RDIF chief praises Saudi reforms, says Bezos hacking story is ‘Fake News’

Speaking on the sidelines of the World Economic Forum (WEF) annual meeting in Davos, Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF) said the Bezos phone hacking claims did not seem plausible. (WEF/File Photo)

• Kirill Dmitriev: Investors interested in business opportunities presented by tourism, improved position of women and youth demographic in Kingdom

DAVOS: One of Saudi Arabia’s biggest investment partners has reassured the global community about doing business in the Kingdom and ridiculed the Jeff Bezos accusations of phone hacking.
Speaking on the sidelines of the World Economic Forum (WEF) annual meeting in Davos, Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), told Arab News that stories about the apparent hacking of Amazon boss Jeff Bezos’ phone did “not look plausible at all.
“This has all the signs of being fake news put about by enemies of the Kingdom.”
Dmitriev, whose organization has channeled investment into Saudi Arabia and partnered with the Kingdom on billions of dollars-worth of joint ventures, said the people he had spoken to in Davos remained in favor of the opportunities presented by Riyadh’s Vision 2030 strategy.
“Lots of people here are positive about the changes going on in Saudi Arabia, both from the West and Asia. They are interested in the business opportunities presented by tourism, the improved position of women and the youth demographic. I’m surprised the Western press does not give the full picture about what is happening in Saudi Arabia,” he added.
While in Switzerland, the RDIF announced a deal to invest in an online tourism platform that would benefit from increased Russian tourism, especially by members of Russia’s big Muslim minority, as well as other potential visitors to Saudi Arabia.
The Bezos allegations, which have been dismissed by Saudi officials as “absolutely silly,” were a hot topic of conversation at the WEF meeting.
A Western executive at a leading Gulf energy company, who declined to be named, said: “Phone hacking and cyber-security is a growing problem in the business world and is not confined to any one country.
“You have to take it all with a pinch of salt. If you’re going to do business in Saudi Arabia you will look at all the pros and cons, and this (the Bezos allegation) is not likely to deter you.”