Firms 'Apologize' for Saudi Forum Boycott

The Saudi energy minister said Thursday that foreign companies which boycotted a key investment forum over the murder of journalist Jamal Khashoggi have "apologized" and vowed a return to normal ties.

"Some companies abstained from the (Future Investment Initiative) conference due to political pressure as a result of an odious campaign directed from outside the kingdom which has failed," Khalid al-Falih told state-run Al-Ekhbariya news channel.

"All the companies that abstained have been calling us during the past 48 hours to apologize and express regret," and vowed to open offices and restore normal relations, Falih said.

Finance Minister Mohammed al-Jadaan said on the closing day that the three-day FII held in Riyadh had been "fantastic... and we are very pleased."

The investment conference, dubbed "Davos in the desert", aimed at drawing foreign investors to help Riyadh diversify its oil-reliant economy.

But it was overshadowed by a global outcry over the murder of Khashoggi, a Washington Post contributor and critic of Saudi Crown Prince Mohammed bin Salman.

A long list of investors and international policymakers declined to show up in Riyadh.

Siemens chief executive Joe Kaeser, corporate chiefs from JP Morgan, Ford and Uber, and media powerhouses like CNN and the Financial Times all scrapped plans to attend.

Ministers from Britain and France and the United States, also stayed away.

On Saturday, more than two weeks after Khashoggi's disappearance, Riyadh admitted that the Saudi journalist was murdered during "a brawl" inside the kingdom's consulate in Istanbul on October 2.

Prince Mohammed denounced the "repulsive" murder and vowed justice will prevail, in his first public comments on the case at the investment forum on Wednesday.

Saudi organizers sought to portray an image of business as usual, announcing 12 "mega deals" worth more than $50 billion in oil, gas, infrastructure and other sectors.

Nadhmi al-Nasr, CEO of NEOM, a Saudi mega city to be built from scratch, said that "tens of meetings" were taking place at the forum "behind closed doors."

"The emphasis of these meetings is: 'Let’s go, let’s move on.' The business we are in has not been affected," he said.

In 2017, the government said NEOM -- billed as a regional Silicon Valley -- would attract $500 billion from the kingdom's vast Public Investment Fund, as well as local and international investors.