SAUDI ARABIA has embarked on an unprecedented drive to open up to $1,400 billion (£795 billion) of its industries to foreign investment as it strives to scale back dependence on oil exports. The Kingdom, which is committed to lowering investment barriers as it enters the World Trade Organisation, has launched a $624 billion investment programme and has accelerated an $800 billion privatisation plan. Riyadh is already waging a charm offensive on Western businesses and is to encourage investment from 400 British companies in a roadshow this month. The Saudi Ambassador to the UK and a Saudi government minister are taking...