Oxford Business Group launches highly-anticipated guide on Kingdom’s economy
Prudent planning and massive reserves set aside during the oil price boom have ensured that Saudi Arabia can confidently push forward with its plans for economic expansion, according to a newly-published report by Oxford Business Group (OBG).
The Kingdom’s bullish bid to finance economic diversification and development, while simultaneously staving off the worst of the global downturn, is mapped out in the leading global publishing, research and consultancy firm’s highly-anticipated business guide, The Report: Saudi Arabia 2009.
Widely regarded as the most comprehensive English language report on the country’s investment and business opportunities to be published, the guide was launched on 1st February 2010 at the Al Faisaliah Hotel, Riyadh.
OBG’s latest report includes a detailed, sector-by-sector guide for foreign investors, together with a wide range of viewpoints and interviews with the most prominent political, economic and business leaders, including King Abdullah bin Abdulaziz Al Saud, Custodian of the Two Holy Mosques.
Prince Khalid Al Faisal, Governor of Mecca, Mansour Al Maiman, Secretary-General of the Public Investment Fund, Abdullah AlSuweilmy, CEO of the Saudi Stock Exchange and Noe van Hulst, Secretary-General of the International Energy Forum, also give their views on Saudi Arabia’s economic development.
The report gives extensive coverage to the long list of large-scale power and water projects that are earmarked for the hydrocarbons industry. There is in-depth analysis of how the anticipated increase in capacity will add to Saudi Arabia’s economic development and the interest that the projects are likely to generate among international companies.
As the Kingdom continues its drive to diversify its economy, OBG’s new publication explores the developments already being witnessed in the country’s industrial sector. While petrochemicals and fertilisers continue to dominate, the report highlights a number of new players emerging in the export field, with particular emphasis on aluminium, steel and paper products.
OBG’s report looks in detail at the extensive, billion-dollar infrastructure projects planned for road, rail, air and sea networks which will give transport connections a major overhaul and bring a huge improvement in accessibility. The support that the government is offering to the construction and development of economic cities is also considered, together with the assistance being offered to SMEs. The report highlights the significant number of public-private partnerships which are being sealed, reflecting the government’s bid to steer its economy in a new direction.
Oliver Cornock, OBG’s Regional Editor, voiced his confidence that with the first signs of recovery in sight across the globe, Saudi Arabia’s economic transformation looked set to gather momentum. “The numerous infrastructure projects that the government has planned for the Kingdom, coupled with the emerging non-oil sectors, will undoubtedly attract widespread interest from the worldwide business community,” he said. “I am certain that the government’s unwavering commitment to economic expansion, as displayed in the last Budget, will bring about a swift resumption of growth.”
Cornock also highlighted the important role that OBG’s partners had played in producing the new report. “The level of economic activity taking place in Saudi Arabia heightens the need for OBG to ensure that it teams up with partners capable of providing top-notch business intelligence,” he said. “I am confident that the data in our report on Saudi Arabia offers key players in business the information they require to make their investment decisions.”
The Report: Saudi Arabia 2009 has been produced in partnership with the Saudi Arabian General Investment Authority, KPMG, OBG’s accountancy partner, Al-Jadaan and Partners Law Firm, the group’s legal partner and HSBC Saudi Arabia as its finance partner. It marks the culmination of more than six months of groundbreaking field research by a team of analysts from OBG, assessing trends and developments in all major sectors of the economy, including energy, industry, finance, banking, tourism, transport and real estate.
Available in print form and online, the report forms part of the range of OBG's publications renowned as leading sources of information on developing and emerging economies around the world.
About Oxford Business Group
Oxford Business Group (OBG) is a global publishing, research and consultancy firm, which publishes economic and political intelligence on the markets of the Middle East, Africa, Asia, Eastern Europe and the Caribbean. Through its range of print and online products, OBG offers comprehensive and accurate analysis of political, macroeconomic and sectoral developments, including banking, capital markets, insurance, energy, transport, industry and telecoms.
The critically acclaimed economic, political and business reports have become the leading source of business intelligence on developing countries in the regions they cover. OBG's online economic briefings provide up-to-date in-depth analysis on the issues that matter for tens of thousands of subscribers worldwide. OBG's consultancy arm offers tailor-made market intelligence and advice to firms currently operating in these markets and those looking to enter them.