At Riyadh jamboree, Saudis may struggle to lure foreign funds in recession

At Riyadh jamboree, Saudis may struggle to lure foreign funds in recession:

"With low oil prices and austerity pushing Saudi Arabia into recession, the government may struggle to persuade international business leaders this week to pour billions of dollars of badly needed investment into the kingdom.

Crown Prince Mohammed bin Salman, the 32-year-old architect of reforms designed to end Saudi Arabia’s reliance on oil exports, will make a rare public address to hundreds of bankers, businessmen and government officials from around the world at a three-day conference starting on Tuesday.

Arranged by Saudi Arabia’s main sovereign wealth fund, the $180 billion Public Investment Fund (PIF), the event is labeled the Future Investment Initiative - an effort to present the world’s top oil exporter as a leading global investment destination."



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