Luring Apple and Amazon will enhance Prince Mohammed’s reform raise the firm's profile in a young market. A third source confirmed that Apple was in talks with SAGIA, Saudi Arabia’s foreign investment authority. Amazon’s talks are in earlier stages and no specific date has been set for investment plans, they said. Apple already holds second place in the Saudi mobile phone market behind Samsung, according to market researcher Euromonitor. Lengthy courtshipWhile Saudi reform plans call for luring foreign investment broadly across sectors, officials have courted Silicon Valley players especially strongly over the past two years to complement their high-tech ambitions.

Source: The Hindu December 28, 2017 16:41 UTC