Welcome to SAGIA SAGIA is the gateway to investment in Saudi Arabia. SAGIA’s mission is to create a pro-business environment, provide comprehensive services to investors and foster investment opportunities in energy, transportation and knowledge-based industries. SAGIA was created by the Government of Saudi Arabia in April 2000, when it announced a new Foreign Investment Law. SAGIA has since been actively working with the government and other agencies toward a Saudi development vision for the 21st century.
Our Aspiration: 10 by 10 • The outcome is not negotiable: we will build a competitive country where productive and innovative businesses grow and prosper • This is a Saudi challenge, not an economic problem • 10 by 10 must become a “national fixation”: all Saudis need to be inspired to contribute to enhancing competitiveness In 2010, Saudi Arabia will be ranked in the Top 10 competitive economies in the world
Why is 10 by 10 important? Achieve a sustainable increase in the standard of living and prosperity Goal: Increased employment Increased business formation Growth in foreign investment (capital and skills / knowledge) Achieved Through: Growth in productivity Increased proportion of productivity generated from non-oil sectors Which Requires:
The Road to 10x10: 3 Major Initiatives NCC 3. 2. 1. Accelerating competitiveness through Economic Cities Developing competitive advantage in key sectors in the economy Institutionalizing the Competitiveness Management Process
The National Competitiveness Centre (NCC) will orchestrate the change program to achieve ‘10 by 10’ NCC’s purpose To orchestrate the competitiveness enhancement efforts in the Kingdom to enable Top 10 by 2010 • Be a voice of the private sector in the governmental decision making processes • Provide and be perceived to provide data-driven, objective advice on competitiveness improvement opportunities • Focus on relevant, actionable solutions
Cluster Mobilization General Business Environment The NCC will focus on competitiveness issues at two levels • Highlighting and validating business environment weaknesses • Suggesting policy and other changes that improve the quality of the business environment • Facilitating productive dialogue between private sector, public sector and government • Creating the awareness and importance of a cluster view • Improving the economic platform for clusters and individual companies • Upgrading rules and institutions for cluster development
We are using three key measures to evaluate our competitiveness Ease of Doing Business Index Global Competitiveness Index World Competitiveness Index • International Finance Corporation(IFC) / World Bank • Measures ease of doing business by analyzing the regulatory environment • Emphasis on regulatory information • Coverage: 178 countries • Current Ranking: 23 • World Economic Forum (WEF) • Measures macro and microeconomic competitiveness • Emphasis on survey data (103 parameters) • Coverage: 125 countries • Current Ranking: 35 • Institute for Mgmt Development (IMD) • Measures macro and microeconomic competitiveness • Emphasis on statistical data (199 parameters) and survey • Coverage: 55 countries • Saudi Arabia is currently not ranked
The world’s first Economic Cities, with areas dedicated to Knowledge Based Industries, are “special economic zones” Building on the success of Jubail Industrial City, which captures over 50% of the annual FDI inflow into Saudi Arabia, the Kingdom is planning six more economic cities Location Purpose • Economic cities will act as special economic zones, laboratories to develop best practices and create optimal business environments • One-Step investor services will facilitate entry and setup into the Kingdom to spur business formation • World-class infrastructure and enabling clusters (e.g., education) will stimulate growth in strategic sectors (e.g., energy) • Special incentives will catalyze foreign and domestic investment • High quality of living will attract foreign technical experts and accelerate knowledge transfer Prince AbdulAziz Bin Mousaed EC Knowledge EC King Abdullah EC Jizan EC King Abdullah Economic City is the largest private sectordevelopment in Saudi Arabia. Investment in the city exceeds USD $26.6Bn