Uber Woes Highlight Saudi Arabia’s Struggles - Bloomberg
Businesses used to complaining about the sclerotic pace of Saudi Arabia's policymaking now struggle to keep up.
Ride-hailing apps are a case in point. The kingdom, with almost no public transport, appeared a dream destination for companies such as Uber, which even got a $3.5 billion investment from the Saudi sovereign wealth fund in 2016.
Yet contradictions inherent within Crown Prince Mohammed bin Salman’s plan to diversify the economy from oil have made life difficult for Uber and rivals like Bolt.
Wait times for cars have soared since the government enforced a rule last year that all drivers must be Saudis. While that’s part of a broad push to create jobs for citizens, it ruled out the millions of foreign migrants in the country.
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