13/12/2012
'Bureaucracy' Leads Saudi Capitals to Invest in the U.S. Gas
$140 Billion Saudi investments in Washington
U.S.shale gasattractedmore than 140billion dollarsofSaudicapitalwhich migrateddue tolocalbureaucracyto invest inthepetrochemicalsector,takingadvantageoftheincentives offered byU.S.withthegrowingAmericangas discovery.
InvestorsintheSaudipetrochemicalsector expressed their fearof more capitalmigrationoutsideSaudiArabia,afterwhattheydescribedas'bureaucratic'complexities, madebygovernmentagencies .
Engineer Marwan Naseer, President of Alujain Corporation "a Saudi Joint Stock Company'', calls the Ministry of Petroleum and Mineral Resources and Saudi Aramco, to reconsider the consequences of these actions and obstacles and overcome them to prevent Saudi capital migration out of the country for the purpose of investment in the petrochemical sector.
