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Saudi Arabia

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Background

In 1902 Abd al-Aziz Ibn SAUD captured Riyadh and set out on a 30-year campaign to unify the Arabian Peninsula. In the 1930s, the discovery of oil transformed the country. Following Iraq's invasion of Kuwait in 1990, Saudi Arabia accepted the Kuwaiti royal family and 400,000 refugees while allowing Western and Arab troops to deploy on its soil for the liberation of Kuwait the following year. A burgeoning population, aquifer depletion, and an economy largely dependent on petroleum output and prices are all major governmental concerns.

This is an oil-based economy with strong government controls over major economic activities. Saudi Arabia has the largest reserves of petroleum in the world (26% of the proved reserves), ranks as the largest exporter of petroleum, and plays a leading role in OPEC. The petroleum sector accounts for roughly 75% of budget revenues, 45% of GDP, and 90% of export earnings. About 25% of GDP comes from the private sector. Roughly 4 million foreign workers play an important role in the Saudi economy, for example, in the oil and service sectors. Riyadh expects to have a budget deficit in 2002, in part because of increased spending for education and other social programs. The government in 1999 announced plans to begin privatizing the electricity companies, which follows the ongoing privatization of the telecommunications company. The government is expected to continue calling for private sector growth to lessen the kingdom's dependence on oil and increase employment opportunities for the swelling Saudi population. Shortages of water and rapid population growth will constrain government efforts to increase self-sufficiency in agricultural products.

Holidays

Jan 21-25* - Eid al-Adha (Feast of the Sacrifice)
Sep 23 - Saudi National Day
Nov 14-16* - Eid Al Fitr (End of Ramadan)

Ps: Muslim festivals(*) are timed according to local sightings of various phases of the moon and the dates given above are approximations.

Phone Codes

Country Code: 966
Outgoing International Code: 00

Resources

Market Research

CIA - The World Factbook - Saudi Arabia
This website indicates a wide range of detail information about Saudi Arabia by introducing under 8 different fields as its geography,people, government, economy, communications, transportation, military, transnational issues.

About Saudi Arabia
There is available to find out Saudi Arabia's general outlook on the issues of its social and business profile, passport/visa, money, accomodation, government, duty free, health...etc.

Online Saudi Arabia
It is the online news of Saudi Arabia that provides a number of information about Saudi Arabian business news, climate and so forth.

U.S. Department of State -  For Saudi Arabia
U.S. Bureau of Consular Affairs creates a wide range of research on Saudi Arabia in terms of analyzing its social, political, cultural & economic environments.

Saudi Arabia Business Center
Saudi Arabia Networking is a focal point for the exchange of business opportunities and knowledge between the private sectors world wide and Saudi Arabia. The major goal is mainly to create awareness of trade opportunities in Saudi Arabia for smaller and medium-sized international firms.

Saudi - USA Relations Information Service
In this organization, it is handled the US and Saudi relations in terms of political, economic and business areas.

Trade Information

Saudi Arabian Chamber of Commerce
There is available to find out a list of Chambers of Commerce related to Saudi Arabia.

Saudi Commercial Office - Royal Embassy of Saudi Arabia in Washington
The Saudi Commercial Service provides assistance not only to the potential investors seeking business opportunity in Saudi Arabia but also for the Saudi exporters.

US-Saudi Arabian Business Council
It is an organization of business leaders that aims to increase trade and investment between the two countries. The site has reports, publications and links to public and private sector enterprises.

Saudi Government Ministries
It is the official website designed as informed about the all government ministries of Saudi Arabia including its functions and contact information.

Trade Guide for Saudi Arabia
There is available to get comprehensive information not only about Saudi Arabian imports, export regulations and other formalities and documents related to commercial transactions but also main exported and imported products & trading partners in Saudi Arabia and so forth.

 
 
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