Saturday, 12 March 2011 | Rabiʻ II 7, 1432 | Last updated at 03:28
Top 100 FDI
SAUDI Arabia has been able to overcome the impact of the global economic crisis because of the decisive action by the Saudi Arabian Monetary Agency (SAMA) and other authorities that helped the Kingdom navigate through the downturn, according to Jim Turley, chairman and CEO of Ernst & Young.
ARE you considering setting up a joint venture (JV) in Saudi Arabia? You’re not alone. The accession of the Kingdom to the World Trade Organization and the establishment of a clear investment framework have led numerous companies to consider gaining a foothold in this, the largest, yet still developing, economy in the Arabian Gulf region.
IT IS of no surprise that banks figure prominently in the foreign direct investment (FDI) list among the top foreign entities investing in Saudi Arabia. This is to be expected given the still omnipresent role of global banks. As Saudi Arabia’s economic history evolved and the economy liberalized to welcome foreign and local participants and firms alike, so did the role of foreign banks.
THE first step, any business leader would agree, when evaluating whether to open up operations in a foreign country is to initially assess the market. In the case of deciding on investing in Saudi Arabia there is no exception. But, where does one begin such an evaluation. The best starting point in beginning one’s assessment is to first examine the facts. According to data from the Saudi Arabian General Investment Authority (SAGIA), Saudi Arabia, with a per capita income forecasted to rise from $20,700 in 2007 to $33,500 in 2020, is the largest economy in the MENA (Middle East & North Africa) region and one of the world’s largest financial forces. The Kingdom is ranked 4th in the world for “fiscal freedom” and possesses the 7th most rewarding tax system on the globe. Out of 181 countries, Saudi Arabia is ranked 11th for overall ease of doing business and first for ease of registering property.
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at Mar 12, 2011 07:46