List of all articles filed under “saudi-arabia-economy” category.
“Saudi Arabia is the most important economy in the region; the Middle East excluding the Saudi Arabian economy is like Asia excluding the Chinese or Indian economies,” explains Dr. Boutros Klink, CEO of Standard Chartered.
“The economy in Saudi Arabia is quite robust. Many initiatives have taken place and are ongoing to diversify away from the oil sector and to build up the non-oil component of the economy,” says Dr. Boutros Klink, CEO of Standard Chartered.
“Standard Chartered is very keen to assist in developing the secondary trading market in bonds and sukuks in the Kingdom,” argues Dr. Boutros Klink, CEO of Standard Chartered.
“There are five main drivers that make it a particularly strong economy: firstly, you have substantial capital investments made by both the government and private companies. Secondly, there is the strong non-oil GDP growth,” argues Dr. Bernd van Linder, Managing Director of Saudi Hollandi Bank.
“For home finance, the banks and the dedicated mortgage companies are already extremely active in the market. The new mortgage law is very strong and supportive,” explains Dr. Bernd van Linder, Managing Director of Saudi Hollandi Bank.
“The banking sector mirrors the economy, so the outlook is extremely bullish,” claims Dr. Bernd van Linder, Managing Director of Saudi Hollandi Bank.
“The Saudi Arabian economy has taken significant strides. Our company, SATCO, being a classified contracting company with a first classification, stands to benefit significantly from the extensive opportunities in construction in particular,” says Dr. Ahmed Sindi, General Manager of SATCO.
“Those big infrastructure projects that are catering to a growing economy suggest that demand on air travel and traveling between various parts of Saudi Arabia is going to grow. The government recognized that and has put aside many billions of dollars to improve its international airports and its local airports,” says Dr. Ahmed Sindi, General Manager of SATCO.
“Saudi Arabia has a bright future. There is a lot of expansion going on. The government is spending a lot of money, especially in the western areas of Mecca, Medina, Jeddah and the King Abdullah Economic City,” says Dr Mohammed A. Al-Ajlan, CEO of Ra-yek Real Estate.
The Kingdom of Saudi Arabia and oil are some of the oldest synonyms in contemporary history. But the kingdom has more to offer than black gold, and the government in Riyadh is working tenaciously to diversify the economy. “If you compare it by GDP, oil represents 85 percent in Saudi Arabia,” says Abdulrahim Al-Zamil, Chairman of the multi-industry conglomerate Zamil Group.
