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TEHRAN, July 27 - Speculations are rising that an ambitious plan for economic reforms attributed to the Saudi Crown Prince Mohammad bin Salman may not progress as desired due to a range of “unprecedented” issues – most importantly a lack of adequate national and international investments.
TEHRAN, Young Journalists Club (YJC) -A report by Forbes highlighted recent indications that wealthy Saudis were unwilling to invest domestically as a sign that showed Prince Salman’s Vision 2030 economic reforms program could sooner or later hit troubled waters.
The report specifically brought into the spotlight concerns that “there may be an entire class of powerful Saudis questioning the future, or at least preparing for a worst-case scenario”.
This, it added, followed anticipations by wealthy Saudis and private businesses that the government might be monitoring their financial transactions and might even take steps “to prevent these people from moving assets out of the country”.
Forbes further wrote that the arrests of 300 prominent Saudi royals and businessmen by Prince Salman’s security apparatus had already led to the stifling of the private sector in the kingdom.
As a result, many wealthy Saudis had already become unwilling to invest domestically despite the government’s centralized push for business growth.
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