Riyadh – Boycotting Doha has pushed many Saudi businessmen and companies that operate in Qatar – more than 388 companies in various fields – to consider limiting their affairs in the kingdom in solidarity with Riyadh calls for Doha to halt support of terrorists groups and organizations.
Companies and businessmen also seek exiting the Qatari crisis with the least losses.
Economists underpinned the importance of assimilating Saudi companies returning to Qatar in an efficient manner.
Dr. Salem Baajaja told Asharq Al-Awsat newspaper that “there is a huge number of Saudi businessmen who had affairs in Qatar but after Riyadh cutting ties with Doha they started to return to the kingdom.”
Baajaja noted that the choice to return and work in the Saudi market is the best since it represents an investment friendly environment.
Financial analyst Abdulrahman al-Ata said that the boycotting of Qatar by eight countries – led by Saudi Arabia – has made the investment in Qatar unsafe, knowing that capitals don’t prefer to take risks through remaining in an environment that is detached from its surrounding on the levels of trade, investment, finance and banking.
“It is difficult for Saudi companies and other companies to continue their affairs in the Qatari environment amid the current boycotting of Doha,” he added to Asharq Al-Awsat.
Ata attributed this to the mounting risks and the market recession, especially that extending the boycotting period would directly affect imports and exports subsequently companies.
This coincides with a paralysis in the trade, investment and financial dealings in Qatar after closing all land, navy and air borders by some countries including Saudi Arabia and UAE.