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Saudi Arabia Retail Report Q3 2015

68 Pages BMI Research June 10, 2015 SKU: BMI5586534

Saudi Arabia Retail Report Q3 2015

BMI View: The retail sector in Saudi Arabia continues to grow rapidly despite changing economic andpolitical conditions. The low oil price, the death of King Abdullah, and the war in Yemen have underscoredthe stability of the Saudi economy, which keeps expanding amid unfavourable conditions. Arguably the mostconservative country in the Arab world will become more open in the next five years and the participationof foreign businesses in the Saudi retail sector will grow substantially.

Unlike its wealthy partners in the Gulf Cooperation Council (GCC), particularly, UAE and Qatar, SaudiArabia has traditionally relied on preserving its economy from substantial participation of foreign capital.From complicated visa procedures to strict ownership laws, the country's vast retail market has been hardlyaccessible for foreign business owners. However, the first half of 2015 brought promising changes. Thecountry's legislators have relaxed visa procedures for tourists and business travellers of several dozennationalities. Moreover, a package of new stock ownership laws was passed in early May: foreign investorscan hold no more than 10% of the Saudi stock market, only large corporate investors with at least USD5bnin assets can participate in trading, and foreign ownership of all companies in the country is limited to 49%.With the value of more than USD570bn, the Saudi equity market is the largest substantially restrictedmarket in the world. With the country's wealthy population in mind, it is highly appealing to foreigninvestors who will advantaged by the new rules.

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Saudi Arabia Retail Report Q3 2015

BMI Research
June 10, 2015

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