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Chapter | Legal Framework from The Report: Saudi Arabia 2018

This chapter contains an overview of the legal framework in which local and foreign investors operate in Saudi Arabia including a look at the recent restructuring of the insolvency law and an examination of the new reforms and regulations aimed to boost foreign investment into the country. This chapter contains a viewpoint from Fahad Abuhimed, Managing Partner, Abuhimed Alsheikh Alhagbani Law Firm in cooperation with Clifford Chance.

Chapter | tax from The Report: Saudi Arabia 2018

This chapter contains an overview of the tax framework in which local and foreign investors operate in Saudi Arabia including an explanation of the Value-added tax introduced on January 1, 2018, a summary of the parallel systems for zakat and corporate income tax, and a rundown of the taxation treaties in place to help promote foreign investment. This chapter contains a viewpoint from Riyadh Al Najjar, Country Senior Leader, PwC Saudi Arabia.

Chapter | Tourism from The Report: Saudi Arabia 2018

Nestled between two seas and two continents, Saudi Arabia stretches over 2.1m sq km, an area as large as Western Europe. Its diverse landscapes offer a wide variety of scenery; while its rich history, culture and significance in the Muslim religion attract visitors from around the world, making it one of the most visited countries in the world. At around 31.7m – one-third of whom are expatriates – the Kingdom has the largest population of any country in the GCC region providing it with a sizeable source of domestic tourism. Furthermore, Saudi Arabia had an estimated GDP of $689bn in 2017, ranking it as a high-income country, meaning its inhabitants have substantial purchasing power that could be flexed in the travel sector. It comes as no surprise, then, that developing the country’s tourism sector has become a key priority in recent years, especially given that Saudi Arabia is seeking to boost diversification of its domestic industries away from hydrocarbons dependency. This chapter contains an interview with Prince Sultan bin Salman bin Abdulaziz Al Saud, Chairperson and President, Saudi Commission for Tourism and National Heritage.

Chapter | Health & Life Sciences from The Report: Saudi Arabia 2018

Recent years have seen a profound restructuring of the Saudi health care sector, with major reform plans being rolled out that foresee not only future expansion, but a much more significant role for the private sector. These moves are being made are in response to a number of basic challenges, brought about by both economic and demographic developments. According to Tawfiq Al Rabiah, the minister of health, these developments mean that some SR250bn ($66.7bn) of investment in the sector will be required up to 2030. This considerable sum will be injected into a system undergoing far-reaching structural change, with increased emphasis on quality of service and the pursuit of alternative funding models to the current public purse. A major initiative to localise both staffing and materials is also under way, and is likely to see increasing investment in training and recruitment of Saudis, and support to domestic pharmaceuticals, medical equipment and supply manufacturers. This chapter contains an interview with Dr Haitham Alfalah, CEO, King Saud Medical City.

Chapter | Education & Training from The Report: Saudi Arabia 2018

Given pride of place in both the Kingdom’s long-term development plans and in its annual budget, education in Saudi Arabia is currently undergoing a major expansion – both in terms of quantity and quality. A range of new projects were launched over 2017 and will continue into 2018, from university construction to curriculum development. Indeed, the centrality of education and training to the country’s ability to achieve other developmental objectives is now widely recognised by planners, policymakers and investors alike, with important consequences for the sector as a whole. This chapter contains an interview with Ahmed Aleissa, Minister of Education.

Chapter | Real Estate & Construction from The Report: Saudi Arabia 2018

After a period of stabilisation in which the government implemented a number of reforms, the real estate and construction sectors are preparing for the introduction of a range of projects under the Saudi Vision 2030 initiative. Lower oil prices and the resulting fiscal consolidation of the state cooled demand in 2016 and early 2017; however, public and private investment is set to pick up again and the implementation of the NTP and Vision 2030 will have a huge impact on the construction industry if its planned mega-projects are rolled out according to schedule. Increased demand should stem from a growing range of segments, including affordable housing, transport, tourism and commercial space for international tech developers. This chapter contains interviews with Majed Al Hogail, Minister of Housing; and Khalid S Aljasser, CEO, Arabian Centres.