Doing Business in Saudi Arabia Guides. Middle East. The Kingdom of Saudi Arabia (KSA) government has, in the last five years, stimulated economic activity in the KSA by implementing a number of economic and regulatory reforms providing incentives and guarantees to foreign investors looking to invest in the KSA. These include allowing foreign ownership of real estate, offering protection against confiscation, allowing foreign companies to repatriate profits, providing government assistance and credit support, offering industrial loans, and setting comparatively low Saudi Arabia corporate and individual taxes.
Doing Business in Saudi Arabia Guide
Saudi Arabia is the only Middle Eastern country among the G-20 members of industrialized states, and its GDP in 2014 exceeded USD 777 billion. The public sector dominates the Saudi economy with oil accounting for 45% of GDP and nearly 90% of government revenues. A nascent manufacturing sector accounts for less than 10% of GDP. There have been cuts in certain capital expenditure areas such as stadium construction and certain future Aramco petrochemical and refinery projects, though most projects currently underway are moving forward though some have been pared down in scope. Overall, there has not yet been a significant deterioration in the business climate resulting from lower oil prices. The September 2015 announcement by Saudi leadership of a “U.S.-Saudi Strategic Partnership for the 21st Century” lays out a plan for significant new projects over the next 10 years relying mostly on U.S. solutions and expertise. Learn more from Saudi Arabia Business Guide provided by ExportGov from the US Government.
