Tentmaker Reports

Saudi Arabia Report

Entrepreneurial Missions Index

44.85

General Information

Population

28,828,870 (43rd most populous country in the world)

RELIGIONS
Muslim100%
LANGUAGES
Arabic

Industries

Crude oil production, petroleum refining, basic petrochemicals, ammonia, industrial gases, sodium hydroxide, cement, fertilizers, plastics, metals, commercial ship repair, commercial aircraft repair, construction

Unless otherwise noted, all information included here was obtained from the World Factbook project 4, conducted by the Central Intelligence Agency (CIA). For more detailed information about Saudi Arabia, visit https://www.cia.gov/library/publications/the-world-factbook/geos/sa.html.

Business Information

The World Bank ranks Saudi Arabia as 44 out of 183 economies in terms of ease of doing business. The country ranks as 0 (of 183) in terms of ease of starting a business.

It requires 0 procedures, takes 0 days, and costs N/A% of income per capita to start a business in Saudi Arabia.

In order to start a business in Saudi Arabia, one must follow these procedures:

  1. Register at the Unified Registry / Ministry of Commerce and Industry
  2. Open bank account
  3. Register with the Department of Zakat and Income Tax (DZIT) to obtain a file number and a certificate of commencement of business
  4. Register employer and employees for the General Organization of Social Insurance (GOSI) contributions online

Unless otherwise noted, all information included here was obtained from the Doing Business project 3, conducted by the World Bank. For more detailed information about starting a business in Saudi Arabia, visit http://www.doingbusiness.org/.

 

 

Saudi Arabia Economic Freedom

The annual survey Economic Freedom of the World is an indicator produced by the Fraser Institute, a libertarian think tank which attempts to measure the degree of economic freedom in the world's nations. Economic Freedom of the World index has been more widely used than any other measure of economic freedom, because of its coverage of a longer time period

Their measure of economic freedom is based on that the following standards:

  • Personal choice rather than collective choice,
  • Voluntary exchange coordinated by markets rather than allocation via the political process,
  • Freedom to enter and compete in markets, and
  • Protection of persons and their property from aggression by others.

A state will rate high when it focuses on protection of people and their property from the actions of aggressors, enforcement of contracts, and provision of the limited set of public goods like roads, flood control projects, and money of stable value and little else, but a country’s rating on the EFW summary index will fall as government expenditures increase and regulations expand.   

 

Saudi Arabia Summary

 

1 World Economic Forum

2 Free the World
Gwartney, James and Robert Lawson with Herbert Grubel, Jakob de Haan, Jan-Egbert Sturm, and Eelco Zandberg (2009). Economic Freedom of the World: 2009 Annual Report. Vancouver, BC: The Fraser Institute. Data retrieved from www.freetheworld.com.

3 World Bank Data

4 World Factbook Project

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