Author: OBG Admin

Chaim Zach-Managing Director and CEO-Agric International Technology and Trade; Kabiru Rabiu-Group Executive Director-BUA Group; and Aliyu Abbati Abdulhameed-Managing Director

Regulated success: Oversight and organisational rehaul aim at jump-starting technological innovation and economic diversification

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  Saudi Arabia introduced key changes in recent years related to ICT, including the creation of new oversight authorities and regulatory frameworks. These reforms are expected to help further develop and support growth in the sector as the country shifts towards a knowledge-based economy. As a sign of the importance that the Kingdom places on technology, and in recognition of the country’s role in the adoption and promotion of innovation to enhance socio-economic development throughout the region, in December 2019 the Council of Arab Ministers

Stuart Tait-Regional Head of Commercial Banking-Asia Pacific

Secure access: The authorities work to enhance cybersecurity and resilience in the face of evolving online threats

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  Cybersecurity is a priority for Saudi Arabia, a country that is making significant investment in boosting its capacity and is rapidly advancing as a global leader in the space. The Kingdom was the top-ranked Arab country in the International Telecommunication Union’s 2018 global cybersecurity index, and ranked 13th overall out of 175 countries. Increased focus on cybersecurity has also driven growth in the wider ICT sector, as players and investors become more secure, and new technologies and services come on-line to service stakeholders. The

Peter Wong-Deputy Chairman and Chief Executive-HSBC

Competitive advantage: Reforms to improve speed and ease the transport of goods

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  A raft of reforms and digital transformation initiatives in Saudi Arabia have earned the country a place among the top-10 most improved global business climates in 2019, according to the World Bank’s “Doing Business 2020” report. The country’s new rank of 62nd out of 190 countries on the report’s ease of doing business rankings marked an improvement of 30 spots on the previous year. This was attributed to reforms in eight areas of business life, including trade across borders, which took into account upgrades at Jeddah Islamic Port (JIP), the introduction of an electronic single window that enables risk-based inspections, and the launch of

Mark Geilenkirchen-CEO-Port of Sohar

Full throttle: Moving ahead with local and regional rail network integration

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  The Kingdom’s rail network has made major strides in recent years, opening up new passenger stations and lines for residents and pilgrims, while also moving tonnes of freight off the road and onto track. Investment in rail infrastructure is set to continue with Saudi Arabia’s contribution to the Gulf Railway, also called the GCC Railway, and the $7bn Saudi Landbridge Project (SLP), which connects the county’s two largest cities of Jeddah and Riyadh, both set to come on-line in the 2020s. As such, the rail sector is expected to play a leading role in realising the Vision 2030 aim of turning the Kingdom into

Jean François Albrecht-Country Managing Partner

Entertainment time: An expanded leisure offering supports real estate development

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  Economic and social reforms under the Vision 2030 strategy are driving commercial real estate investment and helping to chart a new course for the sector. Demand for entertainment options is playing a major role in growing multifaceted retail offerings, while the country’s efforts to establish itself as a global business centre and major tourist destination bode well for the hotel segment. Although the disruptions caused by Covid-19 resulted in the temporary closure of many public places in March and April 2020 – including malls and cinemas – the progressive opening of the entertainment sector in the Kingdom in recent years has laid the foundation

Daouda Coulibaly-Managing Director-Société Ivoirienne de Banque

Spearheading growth: Giga-projects to expand the entertainment and tourism offering

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  Saudi Arabia is in the midst of developing a number of large-scale, complex and multi-purpose construction projects that aim to transform the wider economy. The Kingdom’s main giga-projects are NEOM, the Red Sea Project and Qiddiya. Rolled out as part of Vision 2030, these developments are globally unique in scope and ambition, and aim to stimulate broader economic growth. The developments follow on from earlier King Abdullah-era mega-projects, such as the King Abdullah University of Science and Technology, the King Abdullah Petroleum Studies and Research Centre, and the soon-to-be-completed King Abdullah Financial District. As of 2019 all three of the giga-projects had commenced their

Ahmed El Beheiry-CEO-Telecom Egypt

Open enrolment: Moves to develop the private education segment offer new opportunities for foreign investors

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  Spurred on by the government’s efforts to increase the involvement of private players in the sector and a 2018 regulatory amendment allowing 100% foreign ownership of schools, universities and colleges, education is one of the largest recipients of foreign investment in Saudi Arabia. Opportunities continue to emerge in the general, vocational, technical and special educational needs segments: in 2019 the Saudi Arabian General Investment Authority (SAGIA) announced that the number of business licences issued in the education sector increased by 100% compared to the

Pham Hong Hai-CEO-HSBC Vietnam

Model patient: A new programme of reforms is decentralising public sector provision and facilitating private investment

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  Transforming the delivery of public health services forms a key plank of Vision 2030. For decades facilities owned and operated by the Ministry of Health (MoH) have formed the backbone of the country’s health care system. While the private sector’s share has increased in recent years – with the share of beds in private facilities reaching 25% in 2018 – the public sector remains the primary vehicle for treatment and care. Rising costs associated with increased incidence of lifestyle-related diseases, along with a growing

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Shopping solutions: The local e-commerce market continues to expand in response to growing demand for online retailers

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  Home to some of the most elaborate shopping centres in the world, it is unsurprising that Qatar and the wider Gulf region has traditionally lagged behind the rest of the world in terms of embracing e-commerce. However, in recent years the country has sought to change this by introducing a series of measures to encourage the growth of online retail. In October 2019 the government launched Theqa, a non-profit e-commerce platform that aims to improve consumers’ awareness of and confidence in online retail by

Xi Jinping-President of China

Advantageous clusters: Foreign and domestic companies are increasingly leveraging the country’s free zones and industrial parks

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  Qatar National Vision 2030 recognises the need to diversify the economy by enabling a flourishing private sector and supporting entrepreneurs, who need seed capital and land for factories, offices and warehouses in order to grow. In 2ence011 the state created Manateq, tasking the agency with managing special economic zones (SEZs) and encouraging businesses and small and medium-sized enterprises (SMEs) to locate there. Land Solutions Manateq oversees a number of industrial parks, including Mesaieed Industrial Zone (MIZ), which covers an area of 12m sq metres