ablcc_newsletter-4th-edition-2021_A5_04

5 O n 23 September 2021, the Kingdom of Saudi Arabia celebrated the 91 st Saudi National Day, commemorating the country’s unification after the historical announcement of the late King Abdulaziz bin Abdulrahman Al Saud in 1932. The Arab-Belgian-Luxembourg Chamber of Commerce saw in this celebration a timely occasion to put the spotlight on The Kingdom of Saudi Arabia which, today, has become one of the fastest growing economies in the world offering infinite business opportunities to foreign businesses and, more particularly, Belgian and Luxembourg companies. Saudi Arabia, member of the G-20, is undeniably a partner to be cherished. With a GDP expected to reach 790.00 Billion US$ by the end of 2021 and high government revenues and expenditure, it offers a huge potential for cooperation. Moreover, according to the World Bank Group’s Doing Business 2020 report, Saudi Arabia carried out a record number of business reforms in the past year, earning the country a spot in this year’s top 10 global business climate improvers - which is just one proof of its success. Its position among the world’s largest exporters of oil and gas has tended to overshadow Saudi Arabia’s increasingly diversified economic sectors such as infrastructure, healthcare, energy, petrochemicals, and education to name a few of them. Consequently, there is no need whatsoever to feel that Saudi Arabia should be considered the exclusive playground of large multinationals active in the oil and gas sector. To the contrary, Belgian and Luxembourg SMEs should feel at ease in joining the game. Last but not least, more than just a “new plan”, the Kingdom’s Vision 2030, under its leader Crown Prince Mohammed bin Salman, is a unique transformative economic and social reform that is opening Saudi Arabia up to the world. The Arab-Belgian-Luxembourg Chamber of Commerce thus seized the opportunity gather a comprehensive investigation material – with a view to give our members and friends a clear picture of the rapidly evolving business environment in the country - starting with an exclusive interview with His Excellency Dr Khalid Ibrahim ALJINDAN , Ambassador of the Kingdom of Saudi Arabia in Brussels; followed by a unique article by Her Excellency Dr. Eiman AL-MUTAIRI , Vice Minister of Commerce, CEO - National Competitiveness Center, CEO – Saudi Business Center, on the strengthening of KSA national competitiveness. Focus on the Kingdom of Saudi Arabia – compiled by SONIA DEVERGNIES , Head of communication and Project Manager, Arab-Belgian-Luxembourg Chamber of Commerce