Presentation on theme: "The Royal Consulate General of the Kingdom of Saudi Arabia in Houston October 23, 2013."— Presentation transcript:
The Royal Consulate General of the Kingdom of Saudi Arabia in Houston October 23, 2013
Market Overview Promising economic growth, strong finances Youthful population, 61% within working age, %35 under 15 years old $711 billion GDP ranked 19 th in the world and 1 st in the Middle East Stable currency, fixed at 3.75 Riyals per $1 since 1986 Low inflation Largest foreign reserve Lowest government debt in the world, less than 3.7% GDP down from 100% in 1999 Regulated financial institutions Largest recipient of FDI in Middle East $141 billion over the past 5 years $718 billion government spending over the last 5 years Real GDP growth average at 6.3% annually during 2008 to 2012, third behind China & India Member of WTO since 2005 Ranked 4 th best out of 140 economies in term of micro economic environment Favorable lending environment Business friendly tax system Low corporate tax at 20% Full repatriation of capital allowed, subject to 5% withholding tax Source: Saudi Arabian General Investment Authority
Saudi-US Relations “Saudi business people are familiar with Americans and with the way Americans do business. Saudi business people for the most part are educated in the United States and fully conversant in English. Genuinely like and respect Americans and actually want to do business with us. Business people in Saudi Arabia welcome efforts of cooperation and partnership with U.S. companies.” - U.S. Department of Commerce Export Promotion
Ninth five-year plan from 2010 to 2014 includes $385 billion in new spending
THANK YOU Hala Al-Abdulwahed Public Affairs Royal Consulate General of the Kingdom of Saudi Arabia Tel: (713) 785-5577 Ext. 1035 HAlabdulwahed@mofa.gov.sa
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