Which is now being used and invested in a correct way including Education and World class Factories, universities and Research facilities. We have the biggest amount of Student studying abroad 140,000 Saudis studying in Universities around the world and about 100 factories opening up in KSA each year.
Though i lack first hand information but according to ppl who have spent their entire lives in gulf the only factories that are being allowed to be opened by Europeans are of biscuit and shampoo.
Other than that there are also some construction related industries.
As far as universities are concerned tell me when you have a significant number of peer reviewed research papers.