Saudi Arabia is freeing its billionaire detainees. Now it has to woo investors

Jan 29 2018 |

Hopefully it's going to be days before the hotel opens up," Economy Minister Mohammed Al-Tuwaijri told CNNMoney's emerging markets editor John Defterios. Related: 6 ways life in Saudi Arabia will change in 2018Now the Saudi government is preparing a roadshow starting in February to explain the episode in the hope of encouraging investors to commit cash in support of the economic transformation. "We will be talking to investors, regulators and whoever is interested in our plan and Vision 2030," Al-Tuwaijri said. Related: Saudi Arabia ends 35-year ban on movie theatersSaudi Arabia said in November that corrupt practices by Saudi royals and officials have cost the kingdom at least $100 billion over decades and it planned to recover that amount. A senior Saudi official told CNN that the government had also seized 1.4 billion square meters of land. Read More at money.cnn.com

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