With Saudi Arabia announcing plans to raise $55bn through its privatisation programme, Gulf countries are stepping up efforts to stimulate private investment in public assets and projects, with a view to strengthening state finances, spurring diversification and driving their respective Covid-19 recoveries.
– Economies in the region were hit by reduced trade volumes and lower oil prices
– Governments launched extensive stimulus packages to stabilise their economies
– Short-term recovery will be tied to oil prices and the resumption of travel
– The pandemic looks set to accelerate economic diversification efforts
While many Gulf nations were already working to diversify their economies prior to the coronavirus pandemic, the subsequent economic downturn and collapse in oil prices has meant that governments in the region have had to reassess and – in some cases – accelerate their strategic plans.
INTERCONTINENTAL RIYADH King Saud Road, PO Box 3636, Riyadh 11481 T: (+966) 11 465 5000 www.intercontinental.com/riyadh reservations.icriyadh@ihg.com Rooms: 275 rooms, with 140 standard rooms, 39 junior suites, five large executive suites, two royal suites, 56 club rooms, 10 presidential suites, five club royal suites and 18 cabana...
ETIQUETTE: There are social expectations for interactions between unrelated men and women, which is polite to follow when visiting Saudi Arabia. Businessmen should wait for a woman to offer her hand to shake in a meeting. In other situations, keep a respectful distance. Handshakes between men are common. Saudis pride themselves on their...
What should investors and local entrepreneurs take into account prior to investing in the Kingdom?
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