Dr. Florence Eid-Oakden on Saudi Arabia, Vision 2030, FII and relations with Turkey & the US – Bloomberg Surveillance
Our Chief Economist & CEO, Dr. Florence Eid-Oakden, discusses Saudi Arabia, Vision2030, Saudi-Turkish and Saudi-US relations on Bloomberg Surveillance with Francince Lacqua, following the disappearance of Saudi journalist Jamal Khashoggi and ahead of the upcoming Future Investment Initiative in Riyadh.
Commenting on how she expects the Saudi Arabian authorities to handle the situation and when she expects the report to be out, Dr. Eid-Oakden reminded viewers that “this is neither the first nor the last very unfortunate botched attempt at controlling political dissident in the world. It comes at a time where tolerance for this sort of thing is at an all time low”. Dr. Eid-Oakden noted that the situation will be “managed” and that “Saudi Arabia will survive it, oil markets will survive it, and Saudi-US relations and Saudi-Turkish relations will also survive it”.
On the matter of reassuring investors, Dr. Eid-Oakden believes that “the reality is that some investors will require more reassurance than even the best outcome”. Taking a long-term look, she also reminded investors that “the market has a short memory” and will get past such events.
Noting Saudi Arabia’s attempts to diversify the economy, Dr. Eid-Oakden is of the view that “it is a decade long process ahead and will not be achieved in a couple of years” and the current situation facing Saudi Arabia will be one in a string of events that creates a temporary slowdown.
Watch the interview here (minute 31).