Geography and Economy
The Kingdom of Saudi Arabia is the largest country in the Arabian Peninsula. It occupies an area about the size of the United States east of the Mississippi River. Saudi Arabia’s population is around 23 million and its capital city is Riyadh. Saudi Arabia’s geography is diverse, with forests, grasslands, mountain ranges and deserts. The Kingdom’s political system is rooted in Islam's traditions which call for peace, justice, equality, consultation and respect for the rights of the individual.
The Kingdom is currently experiencing an economic growth. Investments in a number of mega projects got under way. The Capital spending is boosted by private and foreign involvement in the development of the country's hydrocarbon, power and water sectors. There is also an emphasis to upgrade the infrastructure of the country, such as the building ten independent water and power plants by 2016, with an investment outlay of USD 16 billion.
Economy
Saudi Arabia scores well in fiscal freedom, labor freedom, and business freedom. The government imposes no taxes on personal income. Saudi Arabia’s free market economy has evolved into a regional and global economic power with a modern infrastructure. Petroleum is an integral part of the Saudi economy; Saudi Arabia is the world’s largest producer and exporter of oil. In recent decades the Kingdom has increasingly diversified its economy, and today produces and exports a variety of industrial goods all over the globe.
The government has an essential role in industrial and economic development. The Ministry of Economy and Planning formulates economic and social development plans that set long-term economic goals. Additional sectors of the economy are overseen by individual ministries, such as agriculture, energy, transportation, communications and finance. The private sector is playing an increasingly larger role in the Saudi economy – it now accounts for 48 percent of the gross domestic product (GDP). The sector is expected to continue growing, especially as Saudi Arabia opens its doors further to foreign investment. In December 2005, Saudi Arabia joined the World Trade Organization (WTO), a significant development that gives Saudi products greater access to global markets, creates jobs and encourages foreign investment.
www.saudinf.com/main/e1.htm
King Abdullah Economic City
Master-planned as a modern, world-class metropolis, it will become one of the most important cities not only for Saudi Arabia, but for the entire world. In addition to being an “economic city” hosting an unlimited range of economic activities, KAC will also be one of the major cities of western Saudi Arabia, made a permanent home by two million people, all enjoying very high standards of contemporary living. The new City will give investors and entrepreneurs from all over the world limitless opportunities with limitless growth potential. The six components - seaport, industrial district, education zone, financial island, resorts and the residential area - of the City - will work together to make it an important global destination and a focus area for the development of both heavy and light industry, services in various sectors and bring in a greater level of local investment as well as regional and international Foreign Direct Investment into the Kingdom. www.menareport.com/en/business,real_estate/192854
The Kingdom of Saudi Arabia is the largest country in the Arabian Peninsula. It occupies an area about the size of the United States east of the Mississippi River. Saudi Arabia’s population is around 23 million and its capital city is Riyadh. Saudi Arabia’s geography is diverse, with forests, grasslands, mountain ranges and deserts. The Kingdom’s political system is rooted in Islam's traditions which call for peace, justice, equality, consultation and respect for the rights of the individual.
The Kingdom is currently experiencing an economic growth. Investments in a number of mega projects got under way. The Capital spending is boosted by private and foreign involvement in the development of the country's hydrocarbon, power and water sectors. There is also an emphasis to upgrade the infrastructure of the country, such as the building ten independent water and power plants by 2016, with an investment outlay of USD 16 billion.
Economy
Saudi Arabia scores well in fiscal freedom, labor freedom, and business freedom. The government imposes no taxes on personal income. Saudi Arabia’s free market economy has evolved into a regional and global economic power with a modern infrastructure. Petroleum is an integral part of the Saudi economy; Saudi Arabia is the world’s largest producer and exporter of oil. In recent decades the Kingdom has increasingly diversified its economy, and today produces and exports a variety of industrial goods all over the globe.
The government has an essential role in industrial and economic development. The Ministry of Economy and Planning formulates economic and social development plans that set long-term economic goals. Additional sectors of the economy are overseen by individual ministries, such as agriculture, energy, transportation, communications and finance. The private sector is playing an increasingly larger role in the Saudi economy – it now accounts for 48 percent of the gross domestic product (GDP). The sector is expected to continue growing, especially as Saudi Arabia opens its doors further to foreign investment. In December 2005, Saudi Arabia joined the World Trade Organization (WTO), a significant development that gives Saudi products greater access to global markets, creates jobs and encourages foreign investment.
www.saudinf.com/main/e1.htm
King Abdullah Economic City
Master-planned as a modern, world-class metropolis, it will become one of the most important cities not only for Saudi Arabia, but for the entire world. In addition to being an “economic city” hosting an unlimited range of economic activities, KAC will also be one of the major cities of western Saudi Arabia, made a permanent home by two million people, all enjoying very high standards of contemporary living. The new City will give investors and entrepreneurs from all over the world limitless opportunities with limitless growth potential. The six components - seaport, industrial district, education zone, financial island, resorts and the residential area - of the City - will work together to make it an important global destination and a focus area for the development of both heavy and light industry, services in various sectors and bring in a greater level of local investment as well as regional and international Foreign Direct Investment into the Kingdom. www.menareport.com/en/business,real_estate/192854
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