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Home - March 2019

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ECONOMIC TRENDS

An international conference will put a spotlight on the kingdom, as it positions itself as a hotspot for business leaders looking to gain a foothold in a high-potential market.

OIL AND GAS

The Saudi oil giant believes industry players must keep the investment taps running so the industry can meet global demand, which is poised to surge.

VISION 2030

Authorities are focused on achieving fiscal balance by promoting shrewd public spending and exploring new revenue streams.


MANUFACTURING

A number of deals were signed between Saudi agencies and companies in India. Pakistan and China, as the kingdom attempts to become an industrial powerhouse.

SME

By providing loan guarantees, the programme has allowed small and medium businesses to overcome one of the major obstacles of entrepreneurship.

Currency

Weak global recovery and the Brexit uncertainty have prompted central banks to keep interest rates unchanged for the time being.


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 IN THIS EDITION

Saudi Arabia will showcase its financial services prowess to an international audience of business leaders in April with the launch of the first Financial Sector Conference in Riyadh.


The two-day event will be graced by the who’s who of the global investment industry and feature a compelling agenda spanning, but not limited to, fintech, Islamic finance, real estate financing, insurance, and the competitiveness challenges facing the world’s top financial institutions.


The conference aims to become the most prominent financial sector event locally and regionally, according to the organisers.


“It seeks to increase the Saudi financial sector’s contribution to GDP by building a diversified and stable financial sector and developing a sophisticated financial market, through inviting all concerned stakeholders in the Saudi financial sector to participate in a constructive dialogue,” the organisers said.


For global institutions, the event will be an opportunity to explore the robustness of the kingdom’s capital markets and the wider economy, as well as the billions of dollars’ worth of financing opportunities in oil and gas, renewable energy, transportation, manufacturing, logistics, entertainment, tourism and retail.


Indeed, the compelling intersection of logistics, transportation and manufacturing is emerging as a fresh round of opportunity for Saudi Arabia, as it expands its non-oil economy in line with the Vision 2030 initiative.


The National Industrial Development Logistics Program (NIDLP) – focused on industry, mining, energy and logistics – underpins a whole host of 2030 goals eyeing various industries, including trade and exports, and the development of key cities spread across the country.


The NIDLP will be of special interest to global institutions who can help develop policies and regulations, provide financial support – debt or equity – for the projects planned under the programme.


Finally, Saudi Arabia’s focus on forging trade ties with Asian countries and signing a host of contracts focused on a variety of sectors with China, India and Pakistan over the past few months should facilitate the non-oil economy’s growth and help the kingdom’s major companies to find new revenue streams.

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