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Commerce Secretary Penny Pritzker Discusses Exports, New Initiatives at Atlantic Live Event
- May 14,2014
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- Lucien Zeigler
The Atlantic magazine in Washington and its events arm Atlantic Live held a conversation today with United States Commerce Secretary Penny Pritzker and Washington Editor-at-Large, Steve Clemons to discuss the DoC’s efforts at promoting U.S. exports. Pritzker, who spoke last September at the U.S.-Saudi Business Opportunities Forum in Los Angeles for which SUSTG was a principal […]
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Tourism in Saudi Arabia: How the SCTA Can Help the Saudi Economy
- May 6,2014
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- John Sfakianakis
In 2012, 1 billion tourists visited countries all over the world, and this movement led to the generation of more than $1.3 trillion for the global economy. More than half of tourists used air travel to reach their destinations. In 2010, the total contribution of tourism toward the global GDP reached $6.6 trillion (9.3% of […]
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Opportunities for Saudi-China Trade: Is Asia the Future for the Kingdom?
- April 8,2014
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- John Sfakianakis
As part of the recent visit by Saudi Arabia’s Crown Prince Salman to China, I participated the Saudi-China Investment Forum organized by the Saudi Arabian General Investment Authority (SAGIA). I was honored to receive an invitation to speak, and compared with forums organized inside and out of the Kingdom of Saudi Arabia in 2014, this […]
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KACARE and Saudi Arabia’s Frightening Consumption of Energy
- March 26,2014
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- John Sfakianakis
Four years ago, King Abdullah City for Atomic and Renewable Energy (KACARE) was established by a royal decree. Public statements highlighted the numerous nuclear and solar power plants that would be built and entered into production during the next 15 to 20 years. Large sums of money have been paid for advisers and global consulting […]
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High Performance Government and MILE: Delivering on the Promise of eGovernment
- March 3,2014
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- Bill Connor
In a country with 185% mobile device penetration and some of the highest levels of Web usage in the world, how do Saudi officials deliver on the promise of eGovernment? Dr. Mohammed Mustafa Mahmoud, CEO of the Madinah Institute for Leadership and Entrepreneurship (MILE), says it’s not an easy task, given the high expectations of […]
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Is the Saudi Arabian Economy Productive?
- February 21,2014
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- John Sfakianakis
Over the past few years, key macroeconomic indicators point to remarkable breakthroughs by the Saudi Arabian economy. The Kingdom’s economy maintained high GDP growth rates, a budget surplus, growth in the Kingdom’s current account, all while the ratio of public debt to GDP remained minimal. Saudi Arabia’s inflation rate remained low amidst a large influx […]
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Is Saudi Arabia Too Dependent on Management Consultants and Think Tanks?
- February 11,2014
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- John Sfakianakis
During the past ten years, major think tanks and global management consulting firms came to different government agencies and ministries in Saudi Arabia to provide them with recommendations and plans in return for huge wages – in the millions of Riyals. This makes me wonder whether these governmental bodies and ministries are managed by those […]
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Saudi Arabia’s Non-Oil Export Figures are Just Numbers on Paper
- February 3,2014
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- John Sfakianakis
During the past few weeks, we have heard in statements from Saudi officials that Saudi Arabia’s non-oil exports are increasing. In 2013 alone, the value of Saudi oil exports increased by 6.7%, while non-oil exports increased by 2.4%. From 2003 to 2012, total non-oil exports increased from SAR 350 billion to 1.4 trillion.
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Opinion: Comprehensive Reform of the Labor Market in Saudi Arabia
- January 26,2014
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- John Sfakianakis
Besides energy subsidies and the future of energy consumption at the local level, the labor market is considered one of the key variables with respect to the economic future of the kingdom. The labor market should be an integral part of the thinking of government officials when planning at all levels, without exception. The Ministry of […]
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The Reliable Supplier: Saudi Economy Expert Explains Why the Shale Boom in the United States is Actually a Good Thing for Riyadh
- January 24,2014
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- Lucien Zeigler
In a recent article for Foreign Affairs magazine, Saudi economy expert and investment banker Dr. John Sfakianakis writes that while it may be easy to think that the shale boom in the United States is threatening to the world’s largest oil producer in Saudi Arabia, there are several reasons that more production from the United […]
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MUST-READS
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AmazonCloud leader Amazon Web Services makes first Middle East investment
Amazon Web Services caught many established tech giants sleeping as it boomed to a $20-billion-a-year business, and now it's making a move to dominate a new cloud market: the Middle East. Amazon recently announced it will be investing in its first Mideast data centers, based in Bahrain, which the company said will be built by 2019.
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Saudi-RussiaSaudi Arabia, Russia enhance commercial and investment partnership
Following the meetings, the two sides expressed satisfaction with the fraternal and constructive atmosphere that prevailed in the meetings and bilateral relations between the two countries.
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Renewable EnergySaudi Aramco backs investment into diesel engine
Oil and Gas Climate Initiative (OGCI), which includes BP, Shell and Total, invested into Achates Power
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Future Investment InitiativeSaudi investment ambitions impress but foreign money may be slow to come
An undeveloped legal system, sluggish bureaucracy and poor labor productivity have deterred foreign investment and frustrated many Saudi economic plans in the past. Foreigners own only a little over 4 percent of the stock market, and foreign direct investment has been running at under $10 billion a year.
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Softbank Vision FundSoftBank’s Masayoshi Son talks A.I. and investment on Saudi panel
SoftBank CEO Masayoshi Son said Wednesday that his company's acquisition of ARM Holdings is just the beginning of an explosion in demand for semiconductors as robots surpass humans in intelligence by the end of the century.
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Investment LicensesSaudi foreign investment licenses rise by 77%
According to data released by the General Authority for Investment in Saudi Arabia, licensed capital increased by 385 per cent to 1.502 billion riyals ($400.5 million) in the third quarter of 2017, compared to 310 million riyals ($82.7 million) in the corresponding period last year.
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Yasir Al-RumayyanSaudi Sovereign Fund CEO on Investment Strategy
Saudi Public Investment Fund CEO Yasir Al-Rumayyan says he will grow assets under management to more than $2 trillion by 2025 and is targeting a return of nine percent.
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PIFSaudi Fund Targeting Investment Returns of Up to 9%
“We benchmarked ourselves, we went to all the endowments, we went to all the sovereign wealth funds for long-term investments,” Public Investment Fund Managing Director Yasir Alrumayyan said on Tuesday
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Future Investment InitiativeSaudi Arabia opens major conference with eye on investment
The conference, dubbed the Future Investment Initiative , is being hosted by Saudi Arabia’s sovereign wealth fund. The event is being attended by giants in the business world and top Saudi officials.
- NYT (Paywall) -In the Saudi Desert, World's Business Leaders Follow the Money
- Reuters - At Riyadh jamboree, Saudis may struggle to lure foreign funds in recession
- Reuters - Commentary: Aramco clouds Saudi's coming-out party
- Al Arabiya - Saudi crown prince attends panel discussion at landmark investment conference
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Saudi Aramco IPOSaudi Aramco IPO: Saudi Arabia may detail at Future Investment Summit
Many believe Riyadh won't completely desert the idea of an international IPO given its significance to the nation's economic transformation program, known as Vision 2030.
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