List of all articles filed under “saudi-arabia-doing-business” category.
“(It) is a continual process of adjustment. The regulations, laws, and by-laws all have to be meshed together, fine-tuned, and improved, and that doesn’t happen overnight. We hope that entities like SAGIA, SIDF, MODON, are slowly shifting from their previous stand to better stands,” says Emad Al-Shamma, CEO of Al Khafrah Group Holding Co.
“The challenge is the bureaucracy and legislation for establishing ventures in Saudi Arabia… it should take weeks, but instead it takes months. There is a big demand for industrial zones. MODON is working very hard to supply these areas, but still, the demand exceeds the supply,” says Emad Al-Shamma, CEO of Al Khafrah Group Holding Co.
“There are so many industrial products worldwide that you cannot count them all. However, if you are seeking new products, then Saudi Arabia is the place where you can implement the industrialisation of new products,” says Emad Al-Shamma, CEO of Al Khafrah Group Holding Co.
“If we look at all the fundamentals related to Saudi economy, I do think we have any other option but to be positive and optimistic about our future,” explains Dr. Ghassan Al-Shibl, President and CEO of AEC, who discusses the economy and doing business in Saudi Arabia in an exclusive interview.
Abdullah Alomran, CEO of Riyadh International Convention and Exhibition Centre (RICEC)
According to statistics from SCTA, which is the tourism authority here, the Riyadh International Convention and Exhibition Centre´s share of the total MICE visitors is 10%. Therefore 10% of the visitors coming to Saudi Arabia for MICE purposes have visited the Exhibition Centre here in Riyadh.
Dr. Mohammed H. Al Kathiri, Secretary-General of Riyadh Chamber of Commerce and Industry
The Saudi economy in general has been growing over the last few years and is going to continue growing according to statistics from the Ministry of Economy and Planning and in view of what’s going on in the region. Saudi Arabia is the largest economy in the region and is a member of the G20; it is one of the world’s leading oil producers and exporters and the largest producer of petrochemicals in the Middle East.
In 2013, RICEC was able to attract more than 1 million visitors, 3,200 exhibitors – 60% of whom were international exhibitors. As for the outlook, Alomran optimistically states: “We expect from now until 2017 to have growth of around 10 to 17%, mainly in Riyadh. There will be more projects happening and venues opening around the Kingdom. Overall, there will definitely be growth of over 10% here.”
Riyadh is the capital city and is one of the most important and populated cities in Saudi Arabia. We have more than 5 million people living in Riyadh. With the launch of the Riyadh International Convention and Exhibition Centre (RICEC) in 2009, the MICE sector started to grow more and more as this centre encouraged more people to come to Saudi Arabia for such purposes.
One of the pioneering companies in the business tourism segment is Riyadh International Convention and Exhibition Centre (RICEC). Business tourism is booming with the total revenue generated by conference and exhibition visitors to the Kingdom of Saudi Arabia in 2012, reaching USD 2.3 billion and 3.2 million exhibition and conferences visitors.
Riyadh Chamber of Commerce and Industry discusses the role of the private sector in Saudi Arabia. The private sector is playing an increasingly large role in the Saudi economy, and now accounts for 48% of GDP. The non-oil sector of the economy is growing faster than the oil sector, with construction, transport and communications sectors expanding at double-digit rates.
