DESERT MIRAGE
DAVOS IN THE DESERT: A MIRAGE?
The Khashoggi Affair: A Ripple Effect on Saudi Investor Summit
BY NAGAPUSHPA DEVENDRA*
S
everal international companies and investors have
decided to pull out of Saudi Arabia’s Future Investment
Initiative (FII), a massive conference colloquially
known as “Davos in the Desert”, hosted by Crown Prince
Mohammed bin Salman (MBS) as part of his “2030 Vision”
to diversify the country’s economy and reduce its dependence
on oil revenues. A raft of high-profi le investors across the
world refused to attend the summit arguing that Saudi Arabia’s
explanation for Journalist Jamal Khashoggi’s disappearance
is not credible. i Khashoggi who was a prominent critic of
MBS’s governance, disappeared on 2 October after visiting
the Saudi consulate in Istanbul, where Turkish offi cials allege
he was murdered.
Given the Turkey-Saudi distressing relationship, the
issue became more than just a writer’s death. Erdogan
intoned gravely about the Saudis involvement, dragging
the international communities, especially US into the case.
Most of the Western countries, including the US have
condemned Saudi Arabia for violating international human
rights and decided to boycott the summit organised by them.
The New York Times was the fi rst to pull its sponsorship
of the conference, followed by CNN, the Financial Times,
Bloomberg. Media Mogul Arianna Huffi ngton also resigned
her position on the advisory board for this summit. ii Unlike,
the Western media house, their government and investors
response, however were capricious. For instance: The
UK international Trade Secretary Liam Fox announced
his withdrawal from the event, confirming that no UK
offi cials would attend the conference but their ambassador
to Saudi Arabia did attend the summit along with Simon
Penney, Britain’s Trade Commissioner for the Middle East,
Afghanistan and Pakistan. Meanwhile, Germany that shares
a frosty relationship with the kingdom decided to suspend
exports of military equipment until they provide authentic
facts about Khashoggi; they also sent their Economy Minister
Peter Altmaier who urged the European nations to join them. iii
Moreover, the investors like Richard Branson, the founder
of Virgin group; Ernest Moniz, former energy secretary under
Extraordinary and Plenipotentiary Diplomatist • Vol 6 • Issue 10 • Oct-Nov 2018, Noida • 11