SUSTG.com / Research

Discover stories, topics, and more about Saudi Arebia faster.

Recent stories from sustg

MUST-READS

  • Saudi Arabia Public Barley SAGO Tenders to Be Scrapped for Private Deals

    Saudi Arabia, the world’s biggest barley buyer, is poised to stop running government tenders for the grain as the kingdom shifts toward private deals for imports. The Riyadh-based Saudi Arabia Grains Organization will stop running the tenders once private companies fully take over the process of importing and selling barley, according to two officials with knowledge of the matter.

  • Saudi Arabia grooms citizens to replace expats in private sector

    Foreigners make up around 10.5 million of Saudi Arabia’s total population of 34.8 million. Gulf countries have recently stepped up their efforts to employ their own citizens in jobs done by expatriates in an attempt to ease economic impact of COVID-19 on their nationals.

  • Saudi Arabia’s VAT exemption ‘to maintain momentum’ in mortgage market

    The recent move by Saudi Arabia’s government to exempt property deals from 15 percent VAT and instead impose a new 5 percent tax on transactions, is expected to maintain momentum in the kingdom's residential mortgage market, according to experts. Dana Salbak, head of research for JLL MENA, said scrapping the tax from first-time home-buyers of properties worth up to SR1 million will also benefit the market.

  • Contemporary Saudi Arabian OTC derivatives legislation

    The part relating to 'trade reporting requirements' of the Rules came into effect on 1 January 2020 (see part II of this article), while the 'risk mitigation requirements' portion came into effect on 1 April 2020 (see part III of this article).

  • Mills sale heralds new era for privatization in Saudi Arabia

    Saudi Arabia has hailed a new era for food security in the kingdom as the country seeks to complete the privatisation of its milling industry. The Minister of Environment, Water and Agriculture, Abdulrahman A Al-Fadley, applauded the "historic" event as Saudi Arabia’s state grain buyer Saudi Grains Organisation (SAGO) said the second and final stage of the bidding process for its mills had started.

  • Igniting innovation to spur Saudi Arabia’s economic growth

    Saudi Vision 2030 supports and promotes innovation. The Kingdom is fostering a sound environment conducive to stimulating entrepreneurship and creativity to enhance its impact and competitiveness in the dynamic global landscape. Digital transformation is the central pivot of the Vision 2030, encouraging the public and private sectors to work faster to keep up with such change and boost SME contribution to gross domestic product (GDP) from 20 per cent to 35 per cent, localise edge technology and knowledge, and ensure the Kingdom is in the top 10 countries on the Global Competitiveness Index. At BIAC, we take pride in being the first company licensed in the Kingdom to manage incubators and accelerators, operating and managing more than ten business incubators and accelerators and our innovative programmes have contributed to Saudi Arabia's GDP by more than SAR 2.1 billion.

  • Saudi Arabia starts final phase of its mills privatisation

    Saudi Arabia’s state grain buyer SAGO said on Sunday the second and final stage of the bidding process for its mills had started. The kingdom is selling its entire flour milling business, in a long-awaited privatisation that marks one of the first sales of the country’s state-owned assets. The sales are part of broader plans to overhaul the economy.

  • Commentary: Innovation key for Saudi Arabia’s future

    Though today Saudi Arabia does not have the national skilled workforce to compete with countries like Japan and Germany, and hence is not attracting high-tech companies like Apple to open production facilities, in one generation’s time it will.

  • Saudi Arabia’s inflation rate surged to 6.1% in July on VAT hike

    The increase was driven mainly by an acceleration in the cost of food and beverages -- which rose more than 14% compared with last year -- and transport, which rose 7.3%.

  • Saudi Arabia’s non-oil private sector stable in July: PMI

    Saudi Arabia’s non-oil private sector stabilised in July after four months of contraction, a survey showed on Wednesday, suggesting the worst of the disruption caused by the coronavirus pandemic may be over. The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers’ Index (PMI) rose to 50.0 from 47.7 in June, settling at the mark that separates growth from contraction.