Saudi Arabia Articles & Analysis

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Saudi Arabia laid the foundations for a major overhaul of the national economy in 2017, with the government taking steps to privatise key state assets and stimulate investment, as part of long-term plans to diversify the economy.

Saudi Arabia is furthering plans to create the world’s largest sovereign wealth fund and use it as a vehicle for driving economic growth, a move that will have a far-reaching impact on regional and global markets.

Last month Saudi Arabia’s General Authority of Zakat and Tax (GAZT) released the final implementing regulations to legislation governing the new GCC-wide value-added tax (VAT).

To what extent do you expect future growth in the housing market to be supported by mortgage finance?

A project to transform a large area of the Red Sea coast into a luxury tourism destination has been announced as part of the Kingdom’s plans to diversify its tourism offerings, attract investment and expand the sector’s role in the economy.

The government is stepping up investment in transport infrastructure in Saudi Arabia, fast-tracking key projects and creating new opportunities for service providers.