Business and Entrepreneurship in Saudi Arabia: Opportunities for Partnering and Investing in Emerging Businesses

The Keys to Doing Business in the Kingdom

Business and Entrepreneurship in Saudi Arabia is the new, essential reference guide for anyone looking to do business and invest in Saudi Arabia. Supported by the U.S.–Saudi Arabian Business Council, this groundbreaking resource is your primer and insider′s guide to the booming economy earning the world′s attention and the numerous strategic opportunities now available to sharp leaders and investors who know how to operate in the Kingdom. Get to know the names of the major players, the political and economic histories, and the actionable approaches to smoothly operate under often confusing and complicated conditions. This single resource is all you need to:

Understand the challenges and needs of young Saudi entrepreneurs in their own words Examine how global competitiveness and technology are redefining business Apply the useful tools and covered concepts in the real world

Unlock the fresh landscape of prospects in one of the world′s youngest and wealthiest countries with Business and Entrepreneurship in Saudi Arabia.

Preface

Acknowledgements

About the Author

Introduction

Chapter 1: The Kingdom s Modern Economy and Economic Might

The Modern Saudi Economy and the National Development Plans

The Private Sector s Role in National Development and Non–Oil GDP

So, how has it all worked out?

The Kingdom s Path to Economic Diversification

Notes

Chapter 2: Innovation in Saudi Arabia: The Kingdom s March toward the Future

Evaluating Innovation in Saudi Arabia: The Global Innovation Index and the Importance of International Market Engagement

Innovation vs. Invention

Technological and Scientific Discovery in Saudi Arabia

King Abdulaziz City for Science and Technology (KACST)

King Abdullah University for Science and Technology (KAUST)

Industrial Clusters Program (IC), SABIC and Saudi Intellectual Property

Notes

Chapter 3: The Development of Family Owned Businesses in Saudi Arabia

Defining the Family Owned Business (FOB)

The Corporate versus Social Nature of the Saudi Family Owned Business

Corporate Succession within Saudi Family Owned Business and New Generation Integration

Management of Strategic Focus and the Importance of Corporate Governance

Illustrations of Saudi Family Owned Businesses

Notes

Chapter 4: Entrepreneurship in Saudi Arabia Today

Defining Entrepreneur in Saudi Arabia

Saudi Entrepreneurs The Decision to go into Business

Mr. Saud Al–Suhaimi, CEO of Jawlah Tours

Bankruptcy in Saudi Arabia

Notes

Chapter 5: Exploring Saudi Entrepreneurism and Opportunities for Business

Entrepreneurship as a Catalyst for Economic Growth – Saudi Realities

Promotion and Support of Saudi Entrepreneurs and Small and Medium–Sized Businesses

Endeavor Global Incorporated (Endeavor) and Endeavor Saudi Arabia

The National Entrepreneurship Institute (RIYADAH)

The Centennial Fund (TCF)

Saudi Technology Development and Investment Company (TAQNIA)

Notes

Chapter 6: New Horizons for the Kingdom and for Its Domestic and Foreign Businesses

A New Era in U.S. Saudi Commercial Relations

Saudi and American Good Will and Right Intentions A High–Level Discussion on US–Saudi Bilateral Commercial Relationship

New Fiscal Realities and Recurrent Development Themes

Closing Thoughts

Notes

Index

EDWARD BURTON is CEO and president of the USSABC. He works with the American and Saudi public and private sectors to promote the interests of the U.S.–Saudi Arabian bilateral commercial relationship. Ed has counseled hundreds of Fortune 500 companies, as well as small– and middle–tier firms in such industries as construction, medical and pharmaceutical, defense and security, information technology, power and water, and technical services.