This chapter contains an overview of the legal framework in which local and foreign investors operate in Saudi Arabia. It includes a run-down of dispute resolution and bankruptcy rules, an outline of the regulations affecting foreign investors in Saudi Arabia, and an examination of the evolving regulatory framework in place across the Kingdom.
This chapter contains an overview of the tax framework in which local and foreign investors operate in Saudi Arabia, including an outline of the various tax systems in place for different ownership structures and a look at the June 2014 updates to the regulations for zakat, a religious tax based on sharia.
This chapter contains a viewpoint from Jacques Fakhoury, KSA Country Leader,...
Tourism is estimated to have directly contributed $12.7bn to the Saudi economy in 2013, equivalent to 1.7% of GDP, and this was forecast to rise by 5.2% to $13.3bn in 2014. Although religious tourism still dominates the industry, government efforts are under way to expand the sector’s offering, with opportunities available in various segments, including heritage and business tourism. Domestic...
The government represents the biggest provider of health care services in Saudi Arabia, accounting for about 75% of the country’s health spending. In 2015 the government increased its budget for health and social affairs by 48% to $42.64bn. Indeed the Kingdom’s health sector has witnessed rapid growth in recent times as the government looks to meet its 2020 targets of 264 hospitals, 70,694...
Education continues to be a major focus for Saudi Arabia, with an estimated $399.75bn spent on education between 2005 and 2015. This trend is set to continue, as the creation of a knowledge economy forms the third objective of the Kingdom’s 10th Development Plan. Private instruction continues to gain in popularity – the number of pupils at private schools grew by about 9% a year between 2008...
Despite the recent fall in oil prices, Saudi Arabia’s government is pushing ahead with its ambitious development agenda. The outlook is thus bright for the Kingdom’s construction firms, with projects planned under government’s 10th Development Plan including investments worth $258.2bn in real estate; $151.5bn in petrochemicals; and $126.7bn in electricity, gas and water. Indeed, in the short...
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