Business and Entrepreneurship in Saudi Arabia
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Burton Edward. Business and Entrepreneurship in Saudi Arabia
Preface
Acknowledgments
About the Author
Introduction
Chapter 1. The Kingdom's Modern Economy and Economic Might
Chapter 2. Innovation in Saudi Arabia. The Kingdom's March Toward the Future
Chapter 3. The Development of Family-Owned Businesses in Saudi Arabia
Chapter 4. Entrepreneurship in Saudi Arabia Today
Chapter 5. Exploring Saudi Entrepreneurism and Opportunities for Business
Chapter 6. New Horizons for the Kingdom and for Its Domestic and Foreign Businesses
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This book is about business in the Kingdom of Saudi Arabia and how change occurring within the Kingdom is transforming how business is done. It is about Saudi Arabia's business community and the importance and relevance the Kingdom's economy and its industrial and commercial centers have to global business. But, more importantly, it is about the people, companies, and business environment that make doing business in Saudi Arabia such a unique and rewarding experience.
I have spent most of my professional career assisting American enterprise in the trade of their goods and services, and placement of their capital investments in markets around the world. During the course of this vocation, I have gained knowledge in the art and science of evaluating foreign markets for business and learned what to look for when identifying countries representing the best prospects for gaining and growing market share for American businesses. I have found no market more thought-provoking nor engaging than the Kingdom of Saudi Arabia.
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On January 23, 2015, the Custodian of the Two Holy Mosques, His Majesty King Salman Bin Abdulaziz Al Saud, ascended the throne of the Kingdom of Saudi Arabia. On April 29, 2015, King Salman appointed His Royal Highness Prince Mohammed Bin Naif Bin Abdulaziz Al Saud crown prince and first deputy prime minister. The late King Abdullah had already appointed HRH Prince Mohammad Bin Naif Minister of the Interior on November 5, 2012. And, in a move that caught most Saudi analysts off guard and surprised many, His Majesty King Salman Bin Abdulaziz Al Saud appointed his son, His Royal Highness Prince Mohammed Bin Salman Bin Abdulaziz as deputy crown prince, putting him third in line to the throne after Deputy Crown Prince and Interior Minister Mohammed Bin Naif.
The appointment of His Royal Highness Prince Mohammed Bin Salman, 30 years old, as deputy crown prince, was also accompanied by His Royal Highness's appointment as minister of defense, making him one of the youngest ministers of defense in the world. Although the actions taken by His Majesty King Salman in conveying to His Royal Highness Prince Mohammed Bin Salman his appointments and new responsibilities were quite substantive, they also held great symbolism for many Saudis of younger generations. For the first time, the Kingdom signaled to the world, and most importantly to Saudis themselves, that its leaders were fully cognizant of the importance of the contributions to be made to the future of the country by its younger generation.
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