Business & Economy of Saudi Arabia
The Central Business District of Riyadh with Al Faisaliyah Center, Olaya Towers, and the Kingdom Centre. The capital, the largest city, and the economic powerhouse of Saudi Arabia, is surrounded by the an-Nafud desert.
Image: Richard Mortel
Saudi Arabia's economy
Saudi Arabia has an oil-based economy with strong government controls over major economic activities. According to the Saudi government, the Kingdom of Saudi Arabia is the world's leading oil-exporting country. It is estimated that the country has between 16% and 22% of the world's known oil reserves, but a growing population, aquifer depletion, and an economy largely dependent on petroleum output and prices are major governmental concerns. And this is where Saudi Vision 2030 comes into play, a strategic framework to reduce Saudi Arabia's dependence on oil, to diversify its economy, and develop the public service sectors such as health, education, infrastructure, recreation, and tourism.
Saudi Vision 2030
No less than 96 strategic goals are to be achieved with Saudi Arabia's Vision 2030, which is why the kingdom's Council for Economic and Development Affairs has established 13 programs to realize the ambitious vision.
Ministry of Commerce and Industry
Official ministry website. The ministry is responsible for the commerce and investment sectors in the kingdom.
Council of Saudi Chambers
The Council of Saudi Chambers is the umbrella and only legitimate representative of the Saudi business community.
Al Rajhi Banking &
Al Rajhi Bank, with its headquarters in Riyadh, is the world's largest Islamic bank by capital.
National Commercial Bank
NBC (or AlAhli) was the first Saudi bank. Today, it is one of the Arab world's largest financial institutions; its head office is in Jeddah.
The Riyad Bank is a major financial institution in Saudi Arabia with headquarters in Riyadh.
Samba Financial Group SJSC, formerly known as The Saudi American Bank, is a multinational Saudi banking company with headquarters in Riyadh.
Tadawul is the stock exchange of the Kingdom with headquarters in Riyadh.
Real-time prices from the Saudi stock market.
Largest Saudi Arabian Companies
The Saudi Arabian Oil Company is a global player in the petroleum industry.
Saudi Basic Industries Corporation, based in Riyadh, is a multinational chemical manufacturing company and a subsidiary of Saudi Aramco.
Kingdom Holding Company
KHC is a Saudi investment holding company based in Riyadh.
Saudi Arabian Fertilizer Company was the first petrochemical company in Saudi Arabia.
Saudi Electricity Company
SECO is a Saudi Arabian electric energy company based in Riyadh.
STC is a major telecommunications provider in Saudi Arabia.
Almarai is a multinational Saudi Arabian dairy company.
The Saudi Arabian Mining Company (Ma'aden) is a government-owned (50%) mining company.
Major companies of Saudi Arabia
Wikipedia list of the largest companies in Saudi Arabia.
Saudia is the national flag carrier of Saudi Arabia, formerly known as Saudi Arabian Airlines.
Saudi Ports Authority
The largest Port Network in the Middle East.