Israelis start investing in Saudi Arabia
4 Min Read
The Israeli occupation and Saudi Arabia are expanding their cooperation on the economic level, and that may extend to diplomacy.
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Riyadh, Saudi Arabia
It looks like Saudi Arabia is flocking alongside its neighbors, the United Arab Emirates and Bahrain, toward the Israeli occupation, seeking further investments and an upgrade in business and economic ties with "Israel" and Israeli businessmen and firms.
Though Riyadh did not normalize ties with the Israeli occupation yet, unlike Abu Dhabi and Manama, it has already kicked off economic normalization with "Tel Aviv". The Kingdom is already issuing special visas to Israeli settlers, with Israeli and Saudi sources saying there has been a hike in signed deals recently and advanced contact concerning investments of Saudi businessmen and investment funds in "Israel".
The majority of businessmen are representatives and directors of Israeli tech firms invited by Saudis, which became possible for Riyadh to do following the cancellation of the blanket ban on Israelis in the Kingdom.
Israeli occupation Prime Minister Benjamin Netanyahu had paid a visit to Saudi Arabia previously, meeting with Crown Prince Mohammed bin Salman in November 2020, as Washington and "Tel Aviv" were conspiring with the UAE and Bahrain to kick off Arab normalization with the oppressive Israeli regime.
The Israeli visits to the Gulf state have been fruitful for the occupation and the Saudi regime, resulting in several business deals, including two huge, lucrative deals worth millions of dollars in the field of agriculture in the Kingdom's desert climate.
Saudi Arabia is eyeing Israeli agri-tech technologies with a lot of interest, as they could help Riyadh achieve food security and independence - but at the expense of the Palestinian cause.
"Israel"-GCC Chamber of Commerce CEO Nirit Ofir told Al-Monitor that the private sectors on both sides have been pulling "Tel Aviv" and Riyadh closer and closer together, as the business sector is not limited by diplomatic issues.
Saudi businessmen have been increasingly asking for special entry visas for Israeli settlers, with the former going to the UAE and Bahrain for meetings with Israeli businessmen.
Affinity Partners, Jared Kushner’s latest private-equity fund, plans to invest millions of dollars of Saudi money in Israeli startups, according to people knowledgeable of the investment plan.
The fund has raised over 3 billion dollars, with 2 billion forcefully flowing from Riyadh’s sovereign-wealth fund, already eyeing two Israeli firms that it will be investing in, according to the sources cited by the Wall Street Journal.
Dozens of Israeli businessmen traveled to Saudi Arabia for trade deals in recent months, Israeli media reported in late May.
This was not the first time that Saudi Arabia invests in Israeli firms, as Saudi businessmen invested in Israeli startups operating in the United States, with contracts with the American defense establishment, including the cyber companies Zimperium and Cybereason.
According to senior Biden administration officials, the issue of Saudi Arabia picking up investments in "Israel" is expected to come up in the talks between President Biden and his delegation with Saudi officials during the upcoming US visit to Saudi Arabia.
US President Joe Biden has long been championing punishing Saudi Arabia over the assassination of Saudi journalist Jamal Khashoggi and Riyadh's grave human rights violations, but it seems that he will be putting aside his sentiment toward the Kingdom due to his country's need for oil and energy, and he will go to the Gulf state later this month.
Reports about the visit - ironically - come the same day as White House Spokeswoman Karen Jean-Pierre said Biden's remarks about Saudi Arabia, which he described as a "pariah", still stood.
Economic relations are developing quite rapidly due to the efforts of the US and the Israeli occupation. On the other hand, the diplomatic scene has also been shifting regarding rapprochement.
