Saudi power shakeup will not hinder investments says energy minister
Nov 16, 2017 World 0 3403 By Barakat Husseini
- Saudi power shakeup will not hinder investments says energy minister.
- The corruption crackdown is a limited domestic affair.
- has no impact on Saudi's business activities and openness.
The Kingdom of Saudi Arabia has reassured potential investors that the current crackdown on government officials will not affect business in any way, adding that it is only a "limited and domestic affair."
energy minister conveyed this message during a UN conference in Germany this week.
“Everybody understands that this is a limited, domestic affair that the government is simply cleaning house,” he said on the sidelines of the U.N. climate conference in Bonn, Germany.
The energy minister said many foreign investors who had been have been doing business in Saudi Arabia for decades “will tell you that they have not seen corruption in their interactions with the Saudi government or with the Saudi entities”.
“It (the crackdown) has no impact on foreign direct investment. It has no impact whatsoever on the kingdom’s openness, capital flows and our wide open investment environment,” he added.