Aramco, the state oil company, is attracting interest from foreign investors -- but companies are uncertain about deeper involvement in the kingdom
FILE PHOTO: General view of the Natural Gas Liquids facility in Saudi Aramco's Shaybah oilfield at the Empty Quarter in Saudi Arabia May 22, 2018. Picture taken May 22, 2018.
“There’s a ton of interest in buying Aramco bonds and owning a piece of Saudi Aramco, or at least its debt,” said Jim Krane, an energy studies fellow at Rice University in Houston. “When it comes to actually moving your personnel to the kingdom and opening a franchise there and being subject to Saudi laws and courts, the enthusiasm is quite a bit lower. There’s a lot of questions about rule of law in Saudi Arabia, especially over the last couple of years,” he said.
Attracting foreign investors to build factories and establish businesses is crucial to the plan, but so far such investment has been slow to materialize, said Karen Young, a political economist at the American Enterprise Institute who studies the Gulf states.The brutal killing of Khashoggi by Saudi agents last year helped derail some foreigners’ plans to support Vision 2030. Well-known figures from the U.S.
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