Vision 2030 seeks to reshape Saudi Arabia and boost what is the Arab world's largest economy. This video provides key insights from market experts on how to capitalise on the growth opportunities provided by the privatisation programmes, highlighting the trends and challenges to look out for, along with the solutions on how to best operate in Saudi Arabia.
A dynamic economy
The Kingdom of Saudi Arabia (KSA) represents one of the most significant markets in the region for both domestic and international investors. The move to embrace private ownership in the Kingdom through privatisation programmes, along with the recent decisions to allow full foreign ownership of key sectors and others poised soon to follow, are a clear step forward to promote interest from international companies.
The private sector currently contributes an impressive 48% of the country’s GDP, and with the country’s Vision 2030 aiming on increasing this contribution to 65%, the sector is expected to grow. This opens up many opportunities and the increase is expected to rise from 3.8% to the international level of 5.7%.
When considering entering into business dealings connected with KSA, it is highly recommended to obtain specialist legal advice at the outset in order to select the most appropriate business structure and to obtain confirmation as to how the local law applies to the particular investment or business activity. In the last year, our 20+ locally based lawyers have advised over 300 companies in relation to their Saudi Arabia operations, assisting clients on their growth strategy including entry, restructuring, acquisitions, nationalisation issues, distribution arrangements, IP and real estate projects.
For more information about what you should consider before operating in Saudi Arabia, please contact one of our specialist partners.
Saudi Arabia plays a vital role in Clyde & Co’s regional development plan. The establishment of our new professional company demonstrates the firm’s long-term commitment to the Kingdom. The firm is currently the only international law firm to operate a fully integrated office in the Kingdom.