RIYADH: Eric Trump has praised Saudi Arabia’s decision to open up its stock market to foreign investors, stating that billions of additional dollars are set to flow into the Kingdom.
Speaking to Asharq Al-Awsat, the businessman, who is the executive vice president of the Trump Organization, also lauded the recent development projects taking shape in Riyadh, especially in Diriyah.
The Kingdom has announced its financial markets will be open to all foreign investors from Feb. 1, with the removal of restrictions such as the Qualified Foreign Investor framework, which required a minimum of $500 million in assets under management, and the abolition of swap agreements.
Reflecting on the decision, Trump said: “Some of the new legislation allowing foreign inward investment in Saudi Arabia, I think that’s going to open up possibilities for billions of dollars to flow into the market.
“Obviously opening up the actual stock markets themselves to new foreign investment, I think that’s going to lead to more billions of dollars coming into the market. I think this is going to help with trade and tourism and so many other things.”
