With growing local efforts to expand the economy, to invest in Saudi Arabia at this time is ideal. The government keeps creating strategies to boost investment, such as 100% foreign business ownership and other benefits.
In this article, you will learn about the sectors with the best projection and the reasons that make the country a good business place. Let us see:
1. The most promising sectors to invest in Saudi
The economic strategy of the nation includes easing investment opportunities in Saudi Arabia for expats in emerging sectors. In this way, it seeks to expand the economy, to become a country that is not so reliant on oil. Thus, you can invest in the most promising sectors in Saudi Arabia, which we will detail below:
- Industrial sector. In this case, it has an attractive environment, thanks to industrial cities, large infrastructures, and a wide logistics network.
- Information and communication technology. Another investment opportunity in Saudi Arabia is in this sector, as it is one of the main markets in the Middle East. In this case, you will find great projects such as The Promise of the North, the Red Sea Project, Neon, and more.
- Energy and water. The objective of an asset in this sector is to make Saudi Arabia a leading and modern country on it.
- Tourism, culture, and entertainment. The country has proven its capacity to attract tourists, thanks to its natural environments and its cultural richness.
- Chemical industry. Saudi Arabia is one of the most prominent chemical industry markets in the MENA region.
- Metallurgy and mining. In this case, the abundance of raw materials and export privileges due to strategic location are combined.
- Technology. This sector presents a great opportunity for you to invest in Saudi for innovation and technological development in health.
- Transportation and logistics services. Take advantage of the strategic location of the country and opportunities to participate in the new Saudi transportation model.
2. Advantages of making an investment in Saudi Arabia
The stable economy and regulated banking system are not the only factors favoring foreign investment in Saudi Arabia. In addition to those mentioned, other details have attracted investment and business establishment in the country. The benefits that you will obtain when investing in the country are the following:
2.1 Tax benefits
Saudi Arabia has a benefit for investors, the certain tax efficiency in its territory. For example, as a foreign investor, the personal income tax liability is minimal and corporate tax is 15%. Also, in the country, many goods and services are exempt from this tax.
2.2 Receptive environment
In this case, we are not only talking about of the openness for foreign investment but at the level of people. Thus, you will find a cozy atmosphere and the innate hospitality of the Arab culture, ideal if you want to move with your family. Besides, about the business environment, the government eases business and you can count on us to manage the entire process.
2.3 Focus on innovation
In its desire to become a global technology center, the country has created a series of initiatives to support the sector. In addition, the authorities want the technology sector to contribute to GDP with a major sum of money. Likewise, it plans to rise the size of this sector by 50% in addition to creating a quarter of a million jobs.
Also, the momentum in this sector provides unique chances for entrepreneurs and businesses already formed. Hence, now is the best time to establish your business or start a technological venture in the country.
2.4 Expansion of the economy
Saudi Arabia wants to diversify its economy so that it does not depend solely on gas or oil. Therefore, diversification began a few years ago and is now at a faster pace. Thus, the government contributes to companies that offer alternatives in a wide range of industries, to reinforce the economy.
Industries that are growing steadily include the following:
- Financial services.
- Pharmaceutical products.
However, this does not mean that you cannot opt for other companies, you just have to contribute to the economy and your idea will be welcome.
2.5 Security and an attractive standard of living
In Saudi Arabia, you will find a safe environment to live and do business, as is known to all. This is certified by the Gallup Global Law and Order 2021, in which the country obtained a rating of 86 out of 100. In addition, it is the safest country in the G20 according to recent key security indicators.
Likewise, the complexes for expatriates have high levels of security and allow them to adapt to the conservative life of the country. Those who will live in the country with their children should know that the educational level and medical care are top in the world.
3. Get help to invest in Saudi Arabia safely
As you will have seen, the reasons for you to invest in Saudi they are diverse and very attractive, as are the booming sectors. We can offer you the best services that includes the following: immigration solutions, company formation in KSA, Saudi business visa, and more.