Saudi Arabia: The Business Friendly Economy

 

According to the World Bank’s report, 2012: Doing Business in a More Transparent World, Saudi Arabia is ranked as the 12th most business friendly economy in the world.  Saudi Arabia had high ratings for starting a business and dealing with construction permits.  According to the report Saudi Arabia ranked as the best country to do business in the entire Middle East and Arab world.  Very interestingly, the report ranked the Kingdom ahead of major advanced economies such as Canada, Japan, Germany and France.

Saudi Arabia is the 10th easiest country in the world in which to start a business.  It should be noted that the ease of starting a business is addressed to Saudi entrepreneurs and excluded expatriates. However this is excellent news for Saudi nationals and encouraging with the barrage of recent graduates in the Kingdom who are seeking opportunities.

The report further advises of Saudi Arabia’s standing in the world for registering property, getting credit, protection of investors, taxes, trade and insolvency.

Despite the difficult phase that the global economy is currently undergoing, the International Monetary Fund estimates that Saudi Arabia’s real GDP will grow by 6.5 percent and its nominal GDP will reach $571 billion (SR2.14 trillion) by the end of 2011, maintaining its position as the largest economy in the Middle East.

The report is worth reading.

Comments are most welcomed on experiences readers have had in setting up and establishing a business in Saudi Arabia.  I hope that it is as easy for a Saudi woman to establish a business as for a Saudi man.

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4 Responses

  1. I don’t imagine Saudi Arabia would do so well in a list of labor friendly countries. (Nor would the US these days.)

  2. This is great news! I am a Saudi national and currently studying at the culinary institute of america in New York, I hope to one day open up cooking school’s for women in Saudi Arabia. So that they can better their skills in the industry and maybe they can too have their own business.

  3. Well, I’m not a business person but if I was I would manufacture and sell caps that could be put in the freezer and then worn under an abaya. I’m thinking of those freezer gel packs that are used as ice packs for injuries.

    Sarah, this sounds like a great business.

  4. it would have merit, Annie!

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