After international outrage over the alleged murder of the journalist Jamal Khashoggi, Siemens CEO Joe Kaeser has cancelled a visit to Saudi Arabia. This, he said on Monday.
Siemens chief Joe Kaeser has cancelled his participation in the on Tuesday beginning investor conference in Riyadh. He had thought long and hard about, and, ultimately, the cleanest, though “not the most courageous” decision, said Kaeser on Monday. Background of the cancellation of the case of the death of journalist Jamal Khashoggi the Saudi Arabian Consulate in Istanbul.
Kaeser explained its decision in a long statement on the career network Linkedin.
Option one would have been not to go to send to Option two, a representative and Option three, “to go and to talk about it,” said Kaeser.
Long he considered the third possibility, because the cancellation of the participation would have been the “easiest” solution would have been to hide behind the “Mainstream,” wrote Kaeser in his post. In the recent past, he had then “hundreds, if not thousands, of” get Mails and entries in social networks, which advised him of a cancellation and that he had taken the time for his decision.
Ultimately, he had decided not to travel to Riyadh. “This is not a decision against the Kingdom”, he stated. The most important was, however, that the “truth” come to light and justice will be made.
Big market for Siemens
Saudi Arabia, for Siemens a multi-billion market, the company currently is involved in two major projects: the construction of a gas-fired power plant and the new underground railway in the capital, Riyadh. Kaeser justified his Hesitation: He didn’t want to take into account the interests of all Stakeholders: the goals and the reputation of Siemens, the partnership with customers in the Arab world and the Saudi Kingdom, is a business opportunity with a value of up to $ 30 billion by 2030, and thousands of jobs in Saudi Arabia and elsewhere. “And it is not a decision against the Kingdom or its people,” wrote Kaeser. “But now the truth must be found out (about the Disappearance of Khashoggis), and justice be done.”
And CEO of Siemens thus, after a long delay a number of other business leaders, who had cancelled her participation at the investor conference, including Deutsche Bank chief Christian Sewig, but also the leading Manager of U.S. companies such as Ford, Uber, Google, JP Morgan and Blackrock.
The Head of the International monetary Fund (IMF), Christine Lagarde, had to be cancelled as one of the first, your participation in the Riad. Also a media partner of the conference, which takes place tomorrow, Tuesday, as the Financial Times and the New York Times, announced the partnership. CNN, Bloomberg and The Economist withdrew also.
A clear message to the crown Prince
“Despite the talk of reforms, the foreign stay direct investment in Saudi Arabia is low, and the scandal will increase the uncertainty of investors only”, warn the analysts of Capital Economics. The diplomatic squabbles with Canada and Germany, according to criticism of the persecution of the Opposition and the research of foreign policy of the country have already let Western entrepreneurs careful.
The Cancellations of large companies at the investors conference to be a question of “more than a mere Image” for Saudi Arabia, says the analyst Cinzia Bianco of Gulf State Analytics. The message of companies to the Saudi crown Prince Mohammed bin Salman was, “enough of the adventurism, instability and uncertainty”. Just ambitious projects of the crown Prince as the High-Tech city of Neom is likely to be harder and harder to find the necessary investment abroad.
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Merkel against arms exports to Saudi Arabia
The managing Director of the German chamber of industry and Commerce day (DIHK), Martin Wansleben, said the economy look at the current events around Khashoggis death “with concern”. Therefore, the “clear attitude of the Federal government was a real character,” he explained with a view to the Statements of Chancellor Angela Merkel (CDU), that it will for the time being no further arms exports to Saudi Arabia. In Saudi Arabia, which is active German economy’s need for “trust and legal security,” said the DIHK. Therefore, the circumstances of his death Khashoggis would have to be informed “in full”.
Also, the President of the Federal Association of German industry (BDI), Dieter Kempf, said the German economy also condemn the “heinous act in the strongest possible terms”. The education of Saudi Arabian side was so far “totally inadequate”.
hb/dk (dpa,afp)