Saudi Arabia Articles & Analysis

2016 witnessed the launch of the Kingdom’s historic Vision 2030 and the accompanying National Transformation Programme, both of which call for a major overhaul of the state’s economic apparatus and envision a more open market framework and more dynamic, private sector-led growth moving ahead.

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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.  

Moves to privatise utilities assets in Saudi Arabia and expand the reach of its networks through increased investment should create new opportunities for private operators and service providers.

Increased investment in Saudi Arabia’s mining sector looks set to lift its GDP contribution significantly in the coming years, as part of an accelerating push to diversify the economy under the Vision 2030 development plan.