By Khaled Al-Amin
In efforts to attract more foreign direct investments to its markets and lessen the reliance on the unhinged falling oil prices, the Saudi government is taking into consideration permitting foreigners to own 100 per cent shares of companies in four different industries, beside the retail industry that already allows this, Mohamed Helal, secretary general of the Saudi Economic Cities Authority, presented last week in an interview in Riyadh.
It has been clear among Middle-eastern communities how foreign powers have interests in the region due to its vast resources and its strategic geopolitical values, what has been termed the “Arab Spring” is obvious now to be a sophisticated foreign agenda.
In the Saudi Kingdom, the atmosphere among the youth has been energised, the sense of belonging and worries of regional threats, became main drivers to Saudi youth, made them enthusiastically looking up to their leadership and work firmly to be part of the new diversified economic era. The young population is a key player in facing new challenges of cheap oil exports, if righteously taken advantage of, the new generations could be reasons of the Kingdoms 21st century triumphs and help stability and control be maintained back in the turbulent surrounding environment.
In Bloomberg’s report on the new government policy, Helal announced, “the decision had already been made on some of the industries,” the Saudi Arabian General Investment Authority, known as SAGIA, has identified about four sectors in which full foreign ownership may be permitted, he added without eating.
New decision to allow foreigners own full shares of non-oil investments, relaxing regulations and opening fresh doors of opportunities, are new leadership’s means to bypass the synthetic obstacle of falling oil prices that came as attempts to hit the Kingdom’s economy. This new policy will allow effortless job-creating machines to operate in many local industries, young Saudi’s will find new opportunities and unemployment rates will drop – according to the International Labour Organisation Statistics (ILOSTAT), unemployment among the youth (15-24) stands at around 30 per cent (most of which are women). The falling oil revenues are slowing the government’s efforts to create more jobs for youth, yet new out-of-the-box thinking and the beyond belief teen-spirit came as perfect alternatives to counter strike the targeted attacks on the Saudi economy.
Threats are also presented in the new US foreign policy shift towards Iran, the long going antagonism between the west and the Islamic revolution in Iran seems to be no longer holding back economic deals and lifting sanctions. The armed crisis in Yemen comes as a disruption to real economic challenges facing Saudi Arabia, the new leadership on the other hand, makes drastic market swings and political modifications keeping the Kingdom entrenched on both regional and global scenes.
It’s time for the younger Saudi population to prove their competence, acquire stability and regain political influence. The Arab world’s backbone is always known to be Saudi Arabia, it holds the holiest sites of Islam, and the Saud Royalty constantly insured the unity and safety of Arabia’s lands. The region is in need of solidarity, technology is a new language that could possibly reunite Arab youth to stand on mutual basis, aim for common interests and absorb threats placed by foreign voracities.
«We do not just need to look outside the box, rather… we need to get ourselves outside and wonder around, then look in. Only then one is able to observe the BIGGER PICTURE and reach conclusions free of emotions»
His highness King Salman, has taken new measures to boost constructive energy within the governmental sectors through positioning young Royalties in powerful posts, Deputy Crown Prince of Saudi Arabia
Second Deputy Prime Minister, Minister of Defence Prince Mohamed Bin Salman, is the king’s favourite son, and has been involved in Saudi politics since the age of 17. Earlier last month, The Independent published an article about the passionate prince with a headline questioning “The most dangerous man in the world?”
A 28 year-old official in the Saudi’s government confirmed in special statements to the Middle East Observer, “the media both globally and regionally has been waging campaigns against “Wahabism”, attempting to link terrorist values to peaceful teachings presented by historic Muslim cleric Mohamed Ibn Abdelwahab.” A wicked war intended to cut the roots of moderate Islam and generalise the stereotype of Islam as a violent religion, there are currently attacks against young princes in efforts to distort the image of the Saudi royalty, he added.
Foreign media is campaigning against Saudi Arabia; they have put Deputy Crown Prince Mohamed Bin Salman under the spotlight, attempting to distract him away from the decisive war against Houthis in Yemen. Yet, the Arab world started to show signs of awareness, the Iran crisis awakened nations to stand united, as hope will always remain bright in hearts of the younger generations.
