Following the UK’s recent Brexit referendum, we want to echo the reassurance of the British Embassy in Riyadh that Saudi Arabia remains an attractive market for all British businesses.
Brexit has already provided an enhanced opportunity for British exporters. The recent fall in the value of the pound means that British goods and services are now more attractive than ever for clients and consumers in the Saudi market.
The Kingdom of Saudi Arabia has one of the most rapidly expanding populations in the Middle East and is the UK’s second biggest investor.
With 30m consumers, the Saudi market should be the first target for British Exporters looking to do business in the MENA region.
Saudi is now focusing effort on improving the education and employment rate of its population. The recently announced National Transformation Program 2020 (NTP) and the ambitious ‘Vision 2030’ plan, provides great opportunities for British companies across all sectors.
“Saudi Arabia is the UK’s second biggest investor”
Initiatives currently undergoing approvals with HRH Prince Mohammed bin Salman, include a greater reliance on Public / Private Partnerships and the privatization of state-owned assets. A key focus is also the liberalization of rules and regulations in the Kingdom to provide more opportunities for the employment of Saudi Nationals as well as improving the quality of life for citizens in the Kingdom.
We may even see the first cinemas opening in Saudi soon as well as the launch of the Riyadh Marathon!
Things are changing in Saudi Arabia and the Government is clearly committed to the diversification and development of the Saudi economy.
If you would like to learn more about the opportunities for UK business in Saudi Arabia or if you have any further questions about this topic or your particular situation please do not hesitate to email us at [email protected]