Saudi’s MBS Unleashes Months of Reforms to Draw More FDI (2)

In a matter of months, Saudi Arabia has frozen rents, opened property ownership to foreigners, relaxed liquor laws and freed its stock market to investors everywhere.

The moves have come as Crown Prince Mohammed bin Salman seeks to turn the nation into an investment destination and better compete with nearby Dubai. They also hint at how the Gulf nation is trying to address oil-price volatility and budget deficits that threaten to slow progress on its $2 trillion economic diversification plan.

More foreign cash would help companies expand, drive infrastructure financing and ease the government’s investment burden. More critically, though, it ...