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Chamber Lunch Sourcing Business in Saudi Arabia O I L amp。 G A SO I L amp。 G A SI N W A R D M I S S I O NI N W A R D M I S S I O NT O T H E U KT O T H E U K2 7 F e b r u a r y 2 0 0 3L O N D O N N E WC A S T L E A B E R D E E NMiss io n Le ader:Bob Jack sonSecon d S ecretar y Comm ercialBriti s h Tra de O fficeAl Khoba rKEY FACTS SAUDI ARABIA / UK * Saudi Arabia is the UK’s largest trading and investment partner in the Middle East worth approx. 163。4 billion/year. * The UK is the 4th largest supplier of goods to Saudi Arabia, with approx. 8% of the Saudi import market. * There are 144 UKSaudi joint ventures in Saudi Arabia. * Of all the foreign investment licences issued by SAGIA since its inception in 2021, the 2nd largest number (27) has been to British investors. KEY FACTS SAUDI ARABIA / UK * Saudi Arabia has the largest proven oil reserves in the world (25% of the global total), and the 4th largest gas reserves. * English is widely used as the business language in Saudi Arabia. * Approx 30,000 British citizens live and work in Saudi Arabia. * 16 million Saudis live in Saudi Arabia and 6 million expats. The Saudi population is one of the fastest growing in the world (3%/annum). 60% of Saudis are under the age of 20. KEY FACTS WHY INVEST IN SAUDI ARABIA? * Massive investment will be required to meet the needs of the growing population (US$200bn in power amp。 water by 2020). * Foreign investors can now own up to 100% of ventures in most sectors. * Tax on corporate profits attributable to foreign investors has been reduced. * The Saudi stock market is the largest in the region and has performed strongly over the last few years. KEY SECTORS OF OPPORTUNITY IN SAUDI ARABIA There are substancial mercial opportunities for British panies in many sectors, including: Oil amp。 Gas Education amp。 training Agriculture Power Teles amp。 IT Construction Water Safety amp。 Security Leisure Environment Healthcare Consumer goods THE EASTERN PROVINCE IS THE INDUSTRIAL CAPITAL OF SAUDI ARABIA S U P P O R T I N D U S T R IE SS A U D I A N D S A U D I J O IN T V E N T U R E C O M P A N IE SP A IN T , F O O D , P L A S T IC S , M E T A L