U.S. Businesses Sour on Saudi Arabia in Blow to Crown Prince’s Growth Plans

RIYADH-Saudi Arabia courted the world’s top companies to modernize its economy. Instead, the business environment has grown more hostile and investors are souring on the oil-rich kingdom.

Uber Technologies Inc., General Electric Co. and other foreign firms were hit by surprise tax assessments often totaling tens of millions of dollars.

Originally published at https://www.wsj.com on January 15, 2022.