Saudi Arabia: The Emerging Economic Tiger of the Middle East
12 Pages Posted: 5 Oct 2006
Date Written: October 5, 2006
In Saudi Arabia, World's largest oil exporter, "Liberalization" has been the buzzword during the last couple of years. The government sensing the needs of growing population, industry and trade and also the need to integrate Saudi economy with global economy, has been opening its banking, telecom sectors and privatizing its infrastructure especially the electricity and water sectors.
The article analyses the major socio-economic and regulatory developments that took place in Saudi Arabia during the past two years and brings to light the changing business environment and emerging business opportunities in key sectors/industries of the Kingdom's economy. Further, the article discusses the prospects and challenges for domestic firms in view of Saudi Arabia's accession to World Trade Organization and the kind of investment opportunities in store for both the local and international investors. The article concludes with outlining growth factors, prospects and the product categories for key sectors/industries experiencing high growth rates. Finally, the article concludes with a discussion of the prospects and challenges for domestic firms in view of Saudi Arabia's accession to World Trade Organization the kind of investment opportunities in store for both the local and international investors.
Keywords: Macro economy, Reforms, Liberalisation, Social Developments, Investment Vision, Infrastructue, Financing, Growth Factors
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