Can Saudi Arabia draw foreign capital?

But are investors willing to trust it just yet?

Saudi Arabia has been pushing growth in non-oil businesses like manufacturing, and its economy is now among the fastest growing of the Group of 20 countries, with non-oil industries expanding. Meanwhile, large industrial undertakings that are key for the energy transition, like solar plants, electrolytic hydrogen facilities, electric vehicle batteries and carbon capture and storage, require heaps of metals.

Foreign capital into Saudi Arabia grew sharply in 2021, largely because of a US$12.4bil pipeline deal by the state-oil company Saudi Arabian Oil Co, or Aramco.Multinational corporations are hovering, signing memorandums of understanding and visiting, but money isn’t hitting the ground. Multi-billion-dollar mining projects require stakeholder approvals and are harder to commit to; public shareholders don’t necessarily want to wait for long-term returns and are less enthusiastic about big spending.

Even as the world’s top miners and companies flocked to Riyadh, few talked about breaking ground on huge projects that mining requires. Barrick Gold Corp and Saudi Arabian Mining Co – known as Maaden – announced they were setting up two exploration joint ventures.

Source: News Formal (newsformal.com)

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

‘Spectacular’ Gavi shines as Barca beat Madrid to win Spanish Super CupGavi turned provider for the second, running on to De Jong’s pass and sliding the ball across for Lewandowski to finish clinically. theSun theSundaily Gavi Barcelona RealMadridBarca SuperCup
Source: theSundaily - 🏆 25. / 51 Read more »

Soccer-Barcelona ease to 3-1 victory over Real Madrid to win Super Cup(Reuters) - Barcelona were crowned Spanish Super Cup champions after goals from Gavi, Robert Lewandowski and Pedri earned them a 3-1 win over bitter rivals Real Madrid in Saudi Arabia on Sunday.
Source: staronline - 🏆 4. / 75 Read more »

Ronaldo to make Saudi debut in friendly against PSGThe highly anticipated showdown, which reportedly had more than 2 million online ticket requests theSun theSundaily AlNassr PSG Ronaldo Messi friendly
Source: theSundaily - 🏆 25. / 51 Read more »

Soccer-Ronaldo to make Saudi debut in friendly against PSG(Reuters) - Cristiano Ronaldo is set to play in Saudi Arabia for the first time since joining Al Nassr after he was named in the line-up to face Paris St Germain in a friendly, where he could come up against long-time rival Lionel Messi.
Source: staronline - 🏆 4. / 75 Read more »