Business Services Industry
Saudi Arabia intensifies reform efforts to improve competitiveness.
Middle East and North Africa Business Report, July, 2007
Jul. 31--In its latest brief on economic and financial developments in Saudi Arabia, National Bank of Kuwait (NBK) examined the Kingdom's investment programs and policies aimed at expanding production capacity across the oil and gas sectors, and diversifying the economy by improving competitiveness and developing new industries. Central to these efforts are a host of economic reform measures and investor friendly regulations. Over the short-term, the success of such efforts may not be too obvious in light of the rise in oil prices by more than twofold since 2002 and unremitting growth in oil production that raised oil's contribution to the economy dramatically. Higher oil prices have made profit margins in downstream and upstream oil projects very attractive prompting...
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