The Council of Ministers has approved Vision 2030, and the salient features are as follows: 
&nbsp;
&bull; To raise the non-profit sector&rsquo;s contribution to GDP from less than 1% to 5%
&nbsp;
&bull; To increase household savings from 6% to 10% of total household income 
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&bull; To raise ranking on the E-Government Survey Index to be among the top 5 nations 
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&bull; To raise ranking in the Government Effectiveness Index, from 80 to 20 
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&bull; To increase non-oil government revenue from SR163 billion to SR1 trillion 
&nbsp;
&bull; To raise the share of non-oil exports in non-oil GDP from 16% to 50% 
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&bull; To raise global ranking in the Logistics Performance Index from 49 to 25 and ensure the Kingdom is a regional leader 
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&bull; To increase the private sector's contribution from 40% to 65% of GDP 
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&bull; To increase foreign direct investment from 3.8% to the international level of 5.7% of GDP 
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&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To rise from the current position to the top 10 countries on the Global Competitiveness Index
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&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To increase the Public Investment Fund&rsquo;s assets, from SR600 billion to over SR7 trillion
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&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To increase the localization of oil and gas sectors from 40% to 75% 
&nbsp;
&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To move from the current position as the 19th largest economy in the world into the top 15
&nbsp;
&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To increase women&rsquo;s participation in the workforce from 22% to 30% 
&nbsp;
&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To increase SME contribution to GDP from 20% to 35% 
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&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To lower the rate of unemployment from 11.6% to 7% 
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&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To have three Saudi cities be recognized in the top-ranked 100 cities in the world
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&nbsp;

Vision 2030.

Welcome to the gateway of business prosperity in the Kingdom of Saudi Arabia! As the economic powerhouse of the Middle East, Saudi Arabia offers a fertile ground for international ventures seeking growth and success. However, the path to triumph is paved with cultural nuances, legal intricacies, and a unique business environment that demands a tailored approach.
Our comprehensive blog serves as your roadmap to navigating the intricacies of doing business in Saudi Arabia. Delve into the rich tapestry of Saudi Arabian culture, discovering the customs and etiquettes that can make or break business relationships. Uncover the keys to effective communication and relationship-building, crucial elements in a society that values personal connections.
Legal considerations are paramount when establishing and running a business in Saudi Arabia. Our blog demystifies the legal landscape, providing insights into business structures, regulatory compliance, and the legal nuances that underpin successful ventures. From company registration to intellectual property protection, we equip you with the knowledge to navigate the legal framework with confidence.
Stay abreast of the dynamic economic landscape with our market trend analyses. Saudi Arabia's economic diversification efforts and Vision 2030 initiatives present unique opportunities for businesses. We dissect the latest market trends, helping you position your venture strategically and capitalize on emerging sectors.
Whether you're a seasoned entrepreneur or a newcomer to the international business scene, our blog is your go-to resource for mastering the art of doing business in Saudi Arabia. Gain a competitive edge by understanding the intricacies of the local market, forging meaningful connections, and aligning your business strategies with the Kingdom's vision for the future.
Embark on your journey to success with the knowledge and insights provided by our experts. Saudi Arabia beckons with promise, and with our guidance, your business can thrive in this vibrant and dynamic market. Explore the untapped potential and unlock new horizons for your venture in the Kingdom of Saudi Arabia.

Embarking on a business venture in Saudi Arabia opens up a world of opportunities, but understanding the cultural, legal, and economic landscape is crucial. Our blog provides essential insights and tips to help your international business thrive in the Kingdom. From etiquette and local customs to legal considerations and market trends, we've got you covered. Explore the keys to success in the Saudi Arabian business realm with our expert guidance.

Doing Business In Saudi Arabia.

Saudi Arabia, with its rich cultural heritage and strategic geopolitical position, has emerged as a powerhouse in the global economy. At the heart of this economic prowess lies a robust financial landscape that plays a pivotal role in shaping the Kingdom's growth and development. In this blog, we will delve into the various facets of the Saudi financial landscape, exploring key elements that define its structure and examining the recent trends that have propelled it onto the international stage.
<ol>
<li>
Banking Sector: Pillar of Stability Saudi Arabia boasts a resilient banking sector that serves as the cornerstone of its financial stability. The Kingdom is home to some of the largest and most reputable banks in the Middle East, with institutions like the Saudi Arabian Monetary Authority (SAMA) playing a crucial role in regulating and supervising financial activities.
</li>
<li>
Islamic Finance: A Global Hub With a population predominantly adhering to Islamic principles, Saudi Arabia has become a global hub for Islamic finance. Sharia-compliant banking and financial products have gained widespread acceptance, contributing to the Kingdom's position as a leader in this rapidly growing sector.
</li>
<li>
Vision 2030: Transforming the Financial Landscape Crown Prince Mohammed bin Salman's Vision 2030 has set the stage for a comprehensive transformation of Saudi Arabia's economy, and the financial sector is no exception. We'll explore how the Vision's initiatives are reshaping banking, investment, and capital markets, with a focus on diversification and reducing dependence on oil revenues.
</li>
<li>
Capital Markets: Opening Doors to Foreign Investment The Saudi Stock Exchange (Tadawul) has undergone significant reforms, making it more accessible to foreign investors. We'll examine the impact of these changes on the capital markets, exploring the increased foreign capital inflows and the potential for further market development.
</li>
<li>
Fintech Innovation: Embracing the Digital Future The Saudi financial landscape is witnessing a wave of fintech innovation, with startups and established financial institutions alike embracing digital transformation. From mobile banking to blockchain applications, we'll uncover the technological advancements driving this shift and their implications for the future.
</li>
<li>
Sovereign Wealth Fund: A Global Player The Public Investment Fund (PIF) has emerged as a key player in global investments, with a portfolio spanning diverse sectors. We'll analyze the PIF's strategic investments and their impact on the Saudi financial landscape, both domestically and internationally.
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<li>
Challenges and Opportunities No financial landscape is without challenges. We'll discuss the hurdles facing Saudi Arabia's financial sector, from economic diversification to global market uncertainties. Simultaneously, we'll explore the opportunities that arise from overcoming these challenges, such as the potential for increased foreign direct investment and sustainable economic growth.As Saudi Arabia continues its journey towards economic transformation, understanding the intricacies of its financial landscape is crucial. From traditional banking to cutting-edge fintech, the Kingdom is navigating a path to sustainable and diversified growth, with implications that extend far beyond its borders. As investors, policymakers, and enthusiasts, staying informed about the evolving Saudi financial landscape opens doors to exciting opportunities and insights into the future of one of the Middle East's economic powerhouses.
</li>
</ol>

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