Saudi Arabia has drawn up a new strategy to convince US companies to invest in the kingdom, as it struggles to deal with the impact of sharply lower oil prices.
Officials have been contacting a host of US corporations as Riyadh looks to increase foreign investment in its stuttering economy and boost employment, according to people familiar with the matter.
“The point is to attract inflows of cash and create jobs, which is why there is a focus on retail and healthcare, which are both labour intensive sectors,” said one Saudi banker briefed on the plans.
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