Last week, we reported that business mogul Naguib Sawiris announced that he wouldn’t take any investment chances in Saudi Arabia.
“Why would I go somewhere where I am not convinced there is a rule of law and order,” Sawiris told CNBC. He also added that there’s no “real democracy” and implied that people aren’t free. Moreover, he urged the oil-rich kingdom to “come straight on human rights.
However, he spoke to Arabiya TV yesterday and explained that his unwillingness to invest in Saudi Arabia, is not an irrevocable decision. He’s just postponing his lookout for opportunities there until implementation of investment laws and arbitrations are enacted.
