Saudi Arabia showcases $53B in deals at conference

DUBAI, United Arab Emirates (AP) — Saudi Arabia has announced nearly 40 agreements worth $53 billion, billed as the latest effort by Crown Prince Mohammed bin Salman to attract investment, create jobs and diversify revenue away from oil.

A further 29 deals worth $960 million in sectors such as mining, logistics and energy were announced Monday at the launch of the government's National Industrial Development and Logistics Program.

The crown prince looked on from the front row as foreign investors walked across a stage in the opulent event hall of the Ritz Carlton in Riyadh to shake hands with Saudi officials.

It was the second major investor conference in Saudi Arabia since the killing of writer Jamal Khashoggi by Saudi agents sparked a global outcry.