Doing Business in Saudi Arabia by Nazer
Loay H. Nazer, Chairman of Nazer, talks about doing business in Saudi Arabia.
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Tourism in Saudi Arabia: A Growing Niche
The tourism and service industry could be the providential answer to the pressing unemployment issues in the Kingdom. According to the country’s master economic and industrial development plan through the year 2025, the total Saudi labor force in 2009 consisted of 4,885,960 workers. That figure is projected to grow to 11,850,180 by the end of the planning period.
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Doing Business in Saudi Arabia: Steady Improvement
Over the past decade, Saudi Arabia has emerged as one of the best places to do business in the Middle East. In its ranking “Ease of Doing Business” Index 2011, the World Bank ranked 11th out of 183 countries. Saudi Arabia has made significant progress by moving up to 11th place from the 67th place in the global ranking it occupied in 2005.
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Saudi Arabia: The Kingdom Embraces Change and Reform
Despite Western media relentlessly branding Saudi Arabia an archaic, backwards-oriented Islamic monarchy, the kingdom has done bold steps which aim to get its population back to work by diversifying its energy-oriented economy, empowering women to study work and by embracing the digital age like few other Arab countries.
Challenges to Doing Business in Saudi According to Rafal Real Estate
“As in any emerging market, regulations are not black and white. Here in Saudi Arabia, we have regulations but the interpretation and the implementation of these regulations represent quite a challenge for doing business here,” says Majed Al Hogail, Managing Director of Rafal Real Estate Development Co.
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Doing Business in Saudi Arabia is the Easiest According to Zamil
Abdul Rahman Al-Zamil, Chairman of Zamil Group
Without any hesitation I can tell you that doing business in Saudi Arabia is the easiest of all of these countries. Easy business doesn’t mean only government procedures.
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Real Estate is Second Largest Sector in Saudi Arabia after Oil
Mohammed S. Alkhalil, President of FAD Investment & Development
Real estate is a major issue in Saudi Arabia. It is the second largest sector after oil and gas.
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Best Way to Invest in Saudi Arabia is Trough Funds or Swaps
Dr. Boutros Klink, CEO of Standard Chartered
Saudi Arabia, compared to the other nations in the GCC, has the largest population. It also has the largest local population. So the demographics mix is different. In the credit card industry, the way we deal with the customer base is very different because we are able to build long term relationships with the customers and service their needs as their requirements grow throughout their life cycle.
Success Story of Saudi Entrepreneurship: Al Safi
“Today we have 50,000 cows in one location and we are considered to be the largest integrated dairy farm in the world,” says Ali O. Al-Rakban, CEO of Al Safi.
Competitive Advantages: Support and Subsidies of Saudi Government
“The biggest competitive aspect is the government support for electricity, fuel, some ingredients, etc. This helps us to maintain reasonable and low prices for the final consumers,” says Ali O. Al-Rakban, CEO of Al Safi.