Headline: Financing the future Source: Euromoney Date: July 2001 Author: Emily McDermott
The conference, which was opened by Prince Salman Bin Abdul Aziz Al-Saud, the governor of Riyadh, is evidence of a newfound desire to attract foreign investment and know-how. Through the oil boom of the 1970s and 1980s there was no need to encourage outside investment. However, today nearly 60% of the Saudi Arabian population are young adults about to enter the work force so the government must create jobs. Opening the market both to foreign direct and portfolio investors is one way to stimulate economic growth and career prospects for the country. |