Country Profile
From The Report: Saudi Arabia 2014
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Home to an estimated 15.9% of the world’s proven oil reserves, Saudi Arabia is the single largest economy in the Middle East and North Africa. According to the Ministry of Finance, GDP grew by 9.3% to $746bn in 2013. While oil income is expected to continue to account for the majority of government revenues for the foreseeable future, the non-oil sector has expanded significantly in recent decades. Saudi Arabia is a major player in the region and a close ally to many of the world’s leading powers.

This chapter contains interviews with Prince Turki bin Abdullah bin Abdulaziz Al Saud, Governor, Riyadh Region; Prince Saud bin Nayef bin Abdulaziz Al Saud, Governor, Eastern Province; Abdul Latif Al Zayani, Secretary-General, GCC; and a viewpoint from Enda Kenny, Prime Minister of Ireland.

Articles from this Chapter

Interview

OBG talks to Prince Turki bin Abdullah bin Abdulaziz Al Saud, Governor, Riyadh Region
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How is Arriyadh Development Authority (ADA) positioning Riyadh in terms of its position within the governorate, as well as its role as capital? PRINCE TURKI: Riyadh is the national capital, the prime metropolitan area of the Gulf region, and home to the headquarters of several regional and international organisations; however, we aim to further enhance its standing. The government has positioned Riyadh as a regional capital with the implementation of key developments such as the King Abdullah…

Interview

OBG talks to Prince Saud bin Nayef bin Abdulaziz Al Saud, Governor, Eastern Province
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The Eastern Province has natural resources and is home to petrochemical industries, but what vision exists for diversifying the local economy? PRINCE SAUD: Diversification of the local economy invariably starts with establishing the procedures to support all forms of investment, as well as gradually reducing reliance on single-resource income. First, we must improve the environment and business climate in which institutions operate by facilitating coordination and collaboration between the…

Viewpoint

An attractive choice: Enda Kenny, Prime Minister of Ireland, on the Irish economy and the importance of ties with Saudi Arabia
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Although we may be geographically distant from each other, our two countries share many values and interests, and Ireland is more than ready to build upon these. Economically, we have been through some difficult times, but we are now very much on our way to recovery and growth. Export levels have improved, jobs are being created and unemployment is falling. In 2013 alone, our service exports grew by almost 4%, employment by more than 3% and, having been at a high of 15% just two years ago, unemployment…

Interview

OBG talks to Abdul Latif Al Zayani, Secretary-General, GCC
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How is the GCC working with the EU to bring about greater economic and trade cooperation? AL ZAYANI: Cooperation between the GCC and the EU dates back to the early days of the GCC establishment in 1981. The GCC tried to learn from the EU’s experience in regional integration and apply these successes to its own efforts in the Gulf region. In 1988, the GCC and the EU signed a Cooperation Agreement, which established mechanisms to facilitate greater integration between the two organisations.…