Saudi Arabia Discloses Ties to Andreessen Horowitz and Dozens of Other Venture Capitalists

Saudi Arabia is one of the wealthiest countries in the world, yet its relationship with America is at a low point.

This week, senior executives from some of the world's biggest banks are in Saudi Arabia for an investment conference that will lay the groundwork for deals. It has been dubbed "Davos in the Desert."

The Future of Saudi Arabia

Saudi Arabia may project an image of stability, yet the country is grappling with numerous difficulties. These include a rapidly evolving economy and an increasing youth unemployment rate.

The regime has responded to these changes with a series of economic reforms and diversification programs. To reduce dependence on oil, and provide opportunities for Saudi citizens, they are encouraging private sector growth. Furthermore, they aim to open up the country to free trade and foreign investment.

However, the regime faces grave obstacles in its pursuit of economic globalization. It cannot reconcile these changes with the demands of a young population for political development, potentially leading to an unraveling of political stability.

Saudi Arabia is committed to social change as part of its Vision 2030 plan, including giving women the right to drive and dismantling elements of the male guardianship system.

It is also striving to instill an entrepreneurial spirit among its citizens, particularly the youth. To this end, the government is creating six economic cities which will foster growth and diversification.

King Abdullah Economic City will be established along the Red Sea's shoreline as an economic hub. Here, developers and innovators are working to create opportunities for Saudi citizens through innovation and development projects.

This initiative is expected to create more jobs, raise the standard of living for its citizens and assist the country in reaching its goal of becoming a developed society by 2030. Furthermore, the government plans on investing in education, infrastructure and health care to accommodate an ever-increasing population.

Another crucial factor driving this transformation is the government's effort to provide new employment opportunities for youth. They are launching a program that encourages local entrepreneurs and partnerships with international firms, which they hope will result in increased job creation within the country.

The Saudi government is looking to increase access to education for all children by expanding its free primary school program. Furthermore, they aim to reduce the rate of high school dropouts.

The Kingdom of Saudi Arabia is a monarchy

Saudi Arabia is an absolute monarchy, led by its monarch. No political parties or national elections are permitted and according to The Economist's 2010 Democracy Index, Saudi Arabia was ranked seventh out of 137 authoritarian regimes worldwide.

Saudi Arabia has been ruled by a succession of kings with differing policies and approaches towards social and economic reform. Under King Saud (1953-1964), King Faisal (1964-1975), and King Khalid ( 1975-1982), the country underwent rapid economic and bureaucratic progress. These modernist rulers encouraged economic advancement but made concessions to religious establishments while abandoning plans to broaden political participation.

Under Saudi Arabia's Basic Law, which serves as a de facto constitution, the king must abide by Sharia (Islamic law) and the Qur'an. This requires a fierce commitment to Islam and an exact interpretation of its doctrines. Furthermore, he has the power to arrest and punish anyone found breaking Islamic tenets such as alcohol consumption, homosexual acts, and drug possession.

Government in Morocco is headed by the King, who combines legislative and executive functions within the Council of Ministers. This body consists of a prime minister, first and second deputy prime ministers, 23 ministers with portfolio, plus five ministers of state. The king appoints members to this council which has oversight over such administrative tasks as foreign/domestic policy; defense; finance; education; health.

The judiciary in the Kingdom is founded upon Islamic law, or sharia. It consists of three parts: high courts, Board of Grievances and several committees that handle specific disputes. This branch of Islam adheres to Wahhabi school of thought which opposes all reform measures and encourages repression against dissenters.

In the past, the royal family has dominated politics and been divided by factions motivated by clan loyalties, personal ambitions and ideological differences. As absolute monarchy, however, he remains a powerful figure who directs economic policy, foreign affairs and government affairs.

Saudi Arabia, as the world's leading oil exporter, relies heavily on revenue from petroleum sales but has also established itself as a global force in other areas. Its vast resources and strategic location on the Arabian Peninsula afford it ample opportunities for trade, tourism and cultural exchange. Furthermore, Saudi Arabia boasts an extensive network of diplomatic relations with other countries as well as being an influential player within regional organizations.

It is a repressive regime

Saudi Arabia is known for its strict Islamic law that dictates the country's rules. The government has a history of suppressing freedom of expression and citizens' rights, along with harsh blasphemy laws which can result in severe punishments if someone speaks ill of Islam.

Therefore, it is essential to be aware of the country's repressive nature before traveling there. This includes religious laws, censorship policies and internet access restrictions.

Although there have been some minor reforms in recent years, such as allowing women to drive, the country remains highly repressive. Visitors must adhere to local customs and Muslim values; non-Muslims are even prohibited from certain areas.

The country's repressive nature also extends to its economy. Although conditions have improved in recent years, oil remains the country's primary source of revenue and government can exert heavy-handed control over money-flow. This could pose a potential economic crisis should youth unemployment and discontent increase in number.

To remain in power, repressive regimes must continue to implement their policies and maintain control over their people. As such, government agents are constantly monitoring citizens in an effort to prevent them from speaking out against the regime or making any decisions that might jeopardize its stability.

Furthermore, the government is devising a modernization plan for the country. This initiative seeks to boost employment and social opportunities for women, attract foreign investment, and empower the private sector with more influence in economic decisions.

It also plans to build a mega-city on the Red Sea coast that will serve as an important economic center for Jordan. Estimates place this city's cost at around USD$500 billion, providing huge stimulus to the economy of the nation.

Crown Prince Mohammed bin Salman (MBS) has continued his internal crackdown and targeting of dissidents abroad, despite his promises. The murder of journalist Jamal Khashoggi in October 2018 may be one glaring example, but it's only the tip of the iceberg. There have been numerous other reports of arrests and violence against activists, journalists, and human rights workers within Saudi Arabia as well.

It is a rich country

Saudi Arabia is one of the wealthiest nations in the world, thanks to its abundant oil reserves that have propelled a rapid rise in economic activity. Additionally, it's a founding member of several international organizations.

Saudi Arabia, despite its wealth, remains a conservative society. There are strict rules regarding dress and segregation of sexes. Furthermore, all citizens must participate in five days of mandatory daily prayer that includes religious content.

Though the Saudi royal family enjoys great power and wealth, many citizens in the country live in poverty. In fact, about 60% of city dwellers cannot afford to purchase their homes outright.

Corruption in both government and royal family has become widespread. To combat this, authorities have increased taxes and decreased subsidies - leading to an alarming spike in living costs for many Saudis.

To diversify the country's economic model, the government has implemented a series of policies designed to make it more welcoming to foreign investment and emerging startups. For instance, they recently lifted the 49% limit on strategic foreign investors on Tadawul stock exchange.

This is a positive step for the country, as it will attract more investors and stimulate economic growth. Furthermore, taxes from newly established companies can be increased.

Additionally, this would spur the development of new technology in Saudi Arabia, making the country more advanced globally and improving the lives of its citizens.

The country of Morocco is renowned for its food and culture. Inspired by Islamic dietary laws, the cuisine features many meat dishes like shawarma (spit-cooked lamb), falafel, and ful medames.

The country is known for its ultra-conservatism, but it is currently transitioning into a new era of modernization that is altering how it looks and feels. While this transformation will be beneficial to the future of the country, some may find it difficult to adjust.