investment initiatives like these build on Saudi Arabia's existing strengths at a time when global investors are increasingly seeking new markets with both strong growth prospects and stability: - Saudi Arabia is the 3rd fastest growing economy in the G20, with 5% average annual growth over the past decade and the IMF projecting strong growth in the years ahead. - Last month (Feb 2015) Fitch affirmed Saudi Arabia's AA sovereign rating with a stable outlook, due to its fiscal position, stability, ongoing market reforms and anticipated oil price recovery. - More than 6,000 foreign companies have established operations in Saudi Arabia in the past decade as a result of economic and regulatory reforms. - Foreign and domestic investment combined has grown by 16% annually, on average, rising from US$ 50 billion in 2005 to US$ 180 billion in 2014. - Saudi Arabia offers foreign investors streamlined and duty free access to a market of 350 million people in the 17 Arab countries in the Greater Arab Trade Agreement. - Saudi Arabia has a young and tech-savvy population, and is making huge investments in human capital and healthcare - accounting for 40% of the national budget - including 35 universities, such as the King Abdullah University for Science and Technology. - Saudi Arabia has no income tax, no property tax, no sales tax, no value-added tax, and its company tax rate is 20%, with the ability to carry losses forward indefinitely to offset future tax liabilities. - Saudi Arabia allows 100% foreign ownership of businesses in key sectors.
