DOCSLIB.ORG

Saudization As a Solution for Unemployment the Case Of

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Saudization As a Solution for Unemployment the Case Of Saudization as a Solution for Unemployment The Case of Jeddah Western Region Manal Soliman Fakeeh Submitted in fulfillment of the requirements for the degree of Doctorate in Business Administration University of Glasgow Business School Faculty of Law Business and Social Science May 2009 II Dedication To my mother, Khadijah J. Attar My first teacher With love III Abstract Saudi Arabia is a young wealthy nation with multiple social and economic problems. While the country is extremely wealthy, it has a young population, many of whom are unemployed. The country is highly dependent on a single resource (oil), and relies heavily on imported labour to meet the requirements of economic growth and contribute to the development of the country. In recognition of these systemic problems, the Government has developed a policy of ‘Saudization’ as a way of replacing expatriate with Saudi workers as a way of solving the problem of unemployment. This thesis is an attempt to understand the roots of this paradox of high wealth and high unemployment. How did Saudi Arabia arrive at a situation where it became dependent on the labour of expatriates and why did the government not use the countries’ wealth to create a vibrant high-skill economy? What strategies is the government using to deal with alarming rates of high unemployment, and how successful are their endeavours. Is Saudization the answer to the current labour market situation and, if not, what are the shortcomings of the policy? These are questions addressed in this thesis. With Saudi Arabia having developed relatively recently, the thesis begins by providing an historical overview of the establishment of the Kingdom and at the impact of the 1970s oil boom. It focuses on the labour market, the role of religion and on government attempts to stem rising unemployment through the policy of Saudization. The thesis draws on documentary evidence as well as on interviews with representatives of the key stakeholder groups: policy makers, employers and employees. It is argued that the roots of the problem in the Saudi labour market can be traced back to the process of transformation from an agricultural to an industrial society. Reliance on oil wealth and the establishment of a rentier economy led to a situation where citizens had a low level of involvement in the economy or the political process and labour needs were met through the recruitment of expatriate employees rather than through education and training. IV The thesis argues that the policy of Saudization falls short in several key areas. First, Saudization as a policy is targeting the symptom (unemployment) instead of focusing on the problem employability. In many respects, the education system and labour market situations are poorly aligned; strict religious controls over the content of the curriculum and a lack of forward planning means that young Saudis are not being equipped with the hard or soft skills necessary to meet economic demands. Second, the policy is not tuned into the needs of the private sector and has failed to meet the concerns of employers or employees. Third, the policy has failed to respect the varying situations of employers in different sectors of the labour market and should recognise the need to set industry specific targets for Saudization. In sum, the research lends weight to the idea that Saudization is deficient as a policy and that, without targeted logistics and application, provides little more than a short-term solution to unemployment. V Table of contents Dedication ........................................................................................................................ II Abstract ........................................................................................................................... III Table of contents .............................................................................................................. V List of tables ..................................................................................................................... X List of figures ................................................................................................................. XII Acknowledgments ........................................................................................................ XIII Declaration of Originality ............................................................................................. XV Acronyms and Abbreviations ....................................................................................... XVI Chapter One - The Saudi Paradox Introduction ....................................................................................................................... 1 Pre-Industrial Saudi Arabia ............................................................................................... 3 Nation Building ................................................................................................................. 9 State Policies ................................................................................................................... 15 Contrasts with Classical Models of Industrialization: The Case of Britain .................... 20 VI The British Empire and British Agriculture .................................................................... 22 The Role of the State in Britain ..................................................................................... 23 Industrialization Inventiveness and Innovation in Britain. ............................................ 25 Industrialization and the Human Dimension in Britain. ................................................ 28 Saudi and British Social Structure .................................................................................. 28 Liberalism, socialism and imperialism ........................................................................... 29 Conclusion. ..................................................................................................................... 31 Chapter Two - The Labour Market Introduction ..................................................................................................................... 36 The Saudi Context ........................................................................................................... 37 Natural (Physical) Resources ......................................................................................... 38 Human Resources ........................................................................................................... 41 Employment .................................................................................................................... 49 Unemployment ................................................................................................................ 54 Skill and Human Capital ................................................................................................. 59 VII Education ........................................................................................................................ 61 Conclusion ...................................................................................................................... 63 Chapter Three - Methodology Introduction ..................................................................................................................... 66 Methods and Scope ......................................................................................................... 67 Sampling ......................................................................................................................... 68 Interviews Subjects and Schedule ................................................................................... 69 Analysis of Data .............................................................................................................. 73 Ethical Considerations .................................................................................................... 74 Chapter Four Saudization as a Solution for Unemployment: Government Perspective Introduction ..................................................................................................................... 77 Saudization ...................................................................................................................... 78 The Views of Policy Makers ........................................................................................... 87 Governmental Perspective on Outcomes ........................................................................ 91 Conclusion .................................................................................................................... 104 VIII Chapter Five - Saudization as a Solution for Unemployment: The Private Sector Perspective Introduction ................................................................................................................... 106 How is Saudization Viewed by the Private Sector? ...................................................... 107 Private Sector’s View on Saudization Objectives ......................................................... 113 On Saudization Methods ............................................................................................... 117 Barriers to Saudization .................................................................................................. 122 Successful Saudization .................................................................................................. 130
Load more

Recommended publications
  • UNEMPLOYMENT in SAUDI ARABIA: ASSESSMENT of the SAUDIZATION PROGRAM and the IMPERATIVES LEADING to YOUTH UNEMPLOYMENT a Thesis Submitted By
    The American University in Cairo School of Global Affairs and Public Policy UNEMPLOYMENT IN SAUDI ARABIA: ASSESSMENT OF THE SAUDIZATION PROGRAM AND THE IMPERATIVES LEADING TO YOUTH UNEMPLOYMENT A Thesis Submitted to the Department of Public Policy and Administration in partial fulfillment of the requirements for the Degree of Masters in Public Policy and Administration By Saud Abdulaziz Kabli Under the Supervision of Dr. Hamid Ali December 2014 The American University in Cairo School of Global Affairs and Public Policy UNEMPLOYMENT IN SAUDI ARABIA: ASSESSMENT OF THE SAUDIZATION PROGRAM AND THE IMPERATIVES LEADING TO YOUTH UNEMPLOYMENT A Thesis Submitted by Saud Abdulaziz Kabli to the Department of Public Policy and Administration November 2014 in partial fulfillment of the requirements for the Degree of Masters in Public Policy and Administration has been approved by the Committee composed of Professor Hamid Ali _______________________________ Thesis Supervisor American University in Cairo Date ____________________ Professor Bahgat Korany _______________________________ Thesis First Reader American University in Cairo Date ____________________ Professor Ghada Barsoum_______________________________ Thesis Second Reader American University in Cairo Date ___________________ Professor Hamid Ali___________________________________ Public Policy and Administration Department Chair Date ____________________ Ambassador Nabil Fahmy _______________________________ Dean of GAPP Date ____________________ ii Acknowledgement I am extremely grateful to my supervisor Prof. Hamid Ali, Associate Professor and Chair of the Department of Public Policy and Administration, for the support and guidance he has provided me throughout the course of my thesis research. I am grateful as well to my thesis readers, Prof. Bahgat Korany, Professor in the Department of Political Science and the Director of the AUC Forum, and Prof.
    [Show full text]
  • Security Council Distr.: General 27 January 2020
    United Nations S/2020/70 Security Council Distr.: General 27 January 2020 Original: English Letter dated 27 January 2020 from the Panel of Experts on Yemen addressed to the President of the Security Council The members of the Panel of Experts on Yemen have the honour to transmit herewith the final report of the Panel, prepared in accordance with paragraph 6 of resolution 2456 (2019). The report was provided to the Security Council Committee established pursuant to resolution 2140 (2014) on 27 December 2019 and was considered by the Committee on 10 January 2020. We would appreciate it if the present letter and the report were brought to the attention of the members of the Security Council and issued as a document of the Council. (Signed) Dakshinie Ruwanthika Gunaratne Coordinator Panel of Experts on Yemen (Signed) Ahmed Himmiche Expert (Signed) Henry Thompson Expert (Signed) Marie-Louise Tougas Expert (Signed) Wolf-Christian Paes Expert 19-22391 (E) 070220 *1922391* S/2020/70 Final report of the Panel of Experts on Yemen Summary After more than five years of conflict, the humanitarian crisis in Yemen continues. The country’s many conflicts are interconnected and can no longer be separated by clear divisions between external and internal actors and events. Throughout 2019, the Houthis and the Government of Yemen made little headway towards either a political settlement or a conclusive military victory. In a continuation from 2018, the belligerents continued to practice economic warfare: using economic obstruction and financial tools as weapons to starve opponents of funds or materials. Profiteering from the conflict is endemic.
    [Show full text]
  • (Nitaqat) in Saudi Arabia and the Condition of Filipino Migrant Workers
    Journal of Identity and Migration Studies Volume 8, number 2, 2014 Nationalization Scheme (Nitaqat) in Saudi Arabia and the Condition of Filipino Migrant Workers Henelito A. SEVILLA, Jr.1 Abstract. The Philippines is one of few countries in the developing world that heavily relied on exporting its laborers to sustain its economic growth. Despite attempts by previous administrations to minimize sending Filipino workers abroad by improving working condition at home so that working abroad would no longer be compulsory but optional, many Filipinos continue to leave the country hoping to alleviate their families from poverty. This idea of working abroad has several implications for migrant workers especially in regions where labor policies are not clearly laid down and that rights and welfare of migrant workers are not protected. This paper seeks to elucidate the conditions of Overseas Filipinos Workers (OFWs) in Saudi Arabia which strictly implemented “Saudization”2 policy since 2011. In particular, the paper tries to address the following questions: What does “Saudization” (nitaqat) mean from Filipinos’ perspectives?; Who are affected by this policy and Why have OFWs been affected by such policy?; How did undocumented or illegal OFWs survive in previous years?; What policies they have implemented to counter it? This paper is centered on its main thesis that Saudi Nationalization policy, which is centered on solving socio-economic problems facing the young and unemployed population in several Gulf countries, has been the driver for these governments to strictly implement such a law and that many migrant workers including Filipinos working on specific areas together with undocumented ones are gravely affected.
    [Show full text]
  • The Quest for Increased Saudization: Labor Market Outcomes and the Shadow Price of Workforce Nationalization Policies
    The Quest for Increased Saudization: Labor Market Outcomes and the Shadow Price of Workforce Nationalization Policies Michael Lopesciolo, Daniela Muhaj, and Carolina Pan CID Research Fellow and Graduate Student Working Paper No. 132 July 2021 © Copyright 2021 Lopesciolo, Michael; Muhaj, Daniela; Pan, Carolina; and the President and Fellows of Harvard College Acknowledgments This paper was written in support of the Economic Diversification & Growth Diagnostics in Saudi Arabia project at the Center for International Development’s Growth Lab at Harvard University. This paper benefited from the feedback of Ricardo Hausmann, Tim Cheston, Semiray Kasoolu, Farah Hani, Matte Hartog, Ricardo Villasmil, Can Soylu, and Shreyas Matha. The authors are grateful to the Labor Market Program in Public Policy General Department at the Ministry of Economy and Planning for their valuable comments. Abstract Few countries have embraced active labor market policies to the same extent as Saudi Arabia. In the aftermath of the Arab Spring, the imperative of increasing Saudi employment became paramount. The country faced one of the highest youth unemployment rates in the world while over 80 percent of its private sector consisted of foreign labor. Since 2011, a wave of employment nationalization efforts has been mainly implemented through a comprehensive and strictly enforced industry and firm specific quota system known as Nitaqat. This paper assesses the employment gains as well as the costs and unintended consequences resulting from Nitaqat and related policies between 2011 and 2017. We find that while job nationalization policies generated significant initial gains in Saudi employment and labor force participation, the effects were heterogeneous across workers, firms and sectors.
    [Show full text]
  • Read the Full Report
    cover_gulf.qxp 01/02/2010 17:09 Page 1 Will Stabilisation Limit Protectionism? The 4th GTA Report The 4th GTA Limit Protectionism? Will Stabilisation After the tumult of the first half of 2009, many economies stabilised and some even began to recover in the last quarter of 2009. Using information Will Stabilisation Limit compiled through to late January 2010, this fourth report of the Global Trade Alert examines whether macroeconomic stabilisation has altered governments’ resort to protectionism. Has economic recovery advanced enough so that national policymakers now feel little or no pressure to restrict Protectionism? international commerce? Or is the recovery so nascent that governments continue to discriminate against foreign commercial interests, much as they did during the darker days of 2009? The answers to these questions will determine what contribution exports and the world trading system are likely The 4th GTA Report to play in fostering growth during 2010. The contents of this Report will be of interest to trade policymakers and other government officials and to commercial associations, non-governmental organisations, and analysts following developments in the world trading A Focus on the Gulf Region system. Edited by Simon J. Evenett Centre for Economic Policy Research 53-56 GREAT SUTTON STREET • LONDON EC1V 0DG • TEL: +44 (0)20 7183 8801 • FAX: +44 (0)20 7183 8820 • EMAIL: [email protected] www.cepr.org Will Stabilisation Limit Protectionism? The 4th GTA Report Centre for Economic Policy Research (CEPR) Centre for Economic Policy Research 2nd Floor 53-56 Great Sutton Street London EC1V 0DG UK Tel: +44 (0)20 7183 8801 Fax: +44 (0)20 7183 8820 Email: [email protected] Website: www.cepr.org © Centre for Economic Policy Research 2010 Will Stabilisation Limit Protectionism? The 4th GTA Report Edited by Simon J.
    [Show full text]
  • Program Occasional Paper Series Summer 2012
    MIDDLE EAST PROGRAM OCCASIONAL PAPER SERIES SUMMER 2012 MIDDLE EAST PROGRAM SUMMER OCCASIONAL PAPER SERIES 2012 Saudi Arabia’s Race Against Time The Saudi offi- The overwhelming impression from a two- David B. Ottaway, cial from the week visit to the kingdom is that the House Senior Scholar, Ministry of of Saud finds itself in a tight race against time Woodrow Wilson International Interior’s “ideo- to head off a social explosion, made more Center for Scholars and former Bureau logical security” likely by the current Arab Awakening, that Chief, Washington Post, Cairo department was could undermine its legitimacy and stabil- relaxed and ity. Ironically, the threat stems partly from confident. The King Abdullah’s deliberate policy to stimulate government had uprooted scores of secret reform by sending a new generation of Saudis al-Qaeda cells, rounded up 5,700 of its fol- abroad for training in the sciences, technolo- lowers, and deafened Saudi society to its siren gy, and critical thinking—skills that his king- call to jihad to overthrow the ruling al-Saud dom’s own educational system, dominated by royal family. For the kingdom, the threat ultra-conservative Wahhabi religious clerics, from Islamic terrorists had become manage- has failed to provide. able. So, what is the main security concern Thousands of beneficiaries from the King of the Saudi government today? The answer Abdullah Foreign Scholarship Program, came as something of a surprise: the return of underway since 2005, have returned from U.S. 150,000 Saudis who have been sent abroad to colleges and universities to face bleak prospects study, nearly one half of whom are now in the for a job, house, or marriage.
    [Show full text]
  • Saudi Arabia 2016 Human Rights Report
    SAUDI ARABIA 2016 HUMAN RIGHTS REPORT EXECUTIVE SUMMARY The Kingdom of Saudi Arabia is a monarchy ruled by King Salman bin Abdulaziz Al Saud, who is both head of state and head of government. The government bases its legitimacy on its interpretation of sharia (Islamic law) and the 1992 Basic Law, which specifies that the rulers of the country shall be male descendants of the founder, King Abdulaziz bin Abdulrahman Al Saud. The Basic Law sets out the system of governance, rights of citizens, and powers and duties of the government, and it provides that the Quran and Sunna (the traditions of the Prophet Muhammad) serve as the country’s constitution. In December 2015 the country held municipal elections on a nonparty basis for two-thirds of the 3,159 seats on the 284 municipal councils around the country. Independent polling station observers identified no significant irregularities with the election. For the first time, women were allowed to vote and run as candidates. Civilian authorities generally maintained effective control over the security forces. The most important human rights problems reported included citizens’ lack of the ability and legal means to choose their government; restrictions on universal rights, such as freedom of expression, including on the internet, and the freedoms of assembly, association, movement, and religion; and pervasive gender discrimination and lack of equal rights that affected most aspects of women’s lives. Other human rights problems reported included: a lack of judicial independence and transparency that manifested itself in denial of due process and arbitrary arrest and detention; a lack of equal rights for children and noncitizen workers; abuses of detainees; overcrowding in prisons and detention centers; investigating, detaining, prosecuting, and sentencing lawyers, human rights activists, and antigovernment reformists; holding political prisoners; arbitrary interference with privacy, home, and correspondence; and a lack of equal rights for children and noncitizen workers.
    [Show full text]
  • Official Calendar 2011
    OFFICIAL CALENDAR 2011 Company: Addresse: Email: Phone Number: I wish to receive further information about the following events: MISSIONS: Algeria UAE/Saudi Arabia/Lebanon Vietnam Russia Turkey LfF Roadshow to Spain Japan/South Korea Poland/Czech Republic Norway Austria/Slovenia China(Jilin Province) China/Singapore/Malaysia Gulf Region LfF Roadshow to Germany LfF Roadshow to England LfF Roadshow to France BUS 7,12,13 BUS 12,13 INTERNATIONAL TRADE FAIRS BUS 7,12,18,25 World Future Energy Summit Asia Financial Forum Jeddah Economic Forum Salon Contact/Logistics Management Forum BUS 7,12,18 MIPIM Horécatel World Hosting Days Lujiazui Forum Foire de Printemps Project Lebanon Salon International de l’Aeronautique et de l’Espace GAIM Monaco Monaco Yacht Show Exporeal Anuga Le Forum des Entrepreneurs by initiatives Medica Big 5 Show World Islamic Banking Summit Pollutec F OREI G N T RADE World SME Expo CeBIT Official Agenda 2011 Hannover Messe Foire Internationale des Gourmets International Building Fair Transport & Logistik Sajam Tehnike www.cc.lu | [email protected] Intersolar Europe CeBIT Bilisim Eurasia SME Forum Future Match - Cebit The Luxembourg Chamber of Commerce is a founding member of SISTEP MIDEST-MIMA Euro-China Business Meeting Jilin Salon à l’Envers À affranchir s.v.p. Chambre de Commerce Département International 7, rue Alcide de Gasperi L-2981 Luxembourg (Kirchberg) An important role of the International Department of the Chamber of Commerce is to actively support Luxembourg companies during their entry and expansion in foreign markets. This service is provided through: State visits, Official Missions and Economic Missions p. 4-5 National Pavilions at International Trade Fairs p.
    [Show full text]
  • The Feasibility of Saudization: Costs and Benefits to Saudi Arabia
    California State University, San Bernardino CSUSB ScholarWorks Theses Digitization Project John M. Pfau Library 2003 The feasibility of Saudization: Costs and benefits ot Saudi Arabia Sulaiman Abdulrahman Al-Khuzaim Follow this and additional works at: https://scholarworks.lib.csusb.edu/etd-project Part of the International Business Commons Recommended Citation Al-Khuzaim, Sulaiman Abdulrahman, "The feasibility of Saudization: Costs and benefits ot Saudi Arabia" (2003). Theses Digitization Project. 2193. https://scholarworks.lib.csusb.edu/etd-project/2193 This Project is brought to you for free and open access by the John M. Pfau Library at CSUSB ScholarWorks. It has been accepted for inclusion in Theses Digitization Project by an authorized administrator of CSUSB ScholarWorks. For more information, please contact [email protected]. THE FEASIBILITY OF SAUDIZATION: COSTS AND BENEFITS TO SAUDI ARABIA A Project Presented to the I Faculty of California State University, San Bernardino i i I In Partial Fulfillment I of the Requirements for the Degree Master of Arts in Public Administration by Sulaiman Abdulrahman Al-Khuzaim March 2003 i I I I THE FEASIBILITY OF SAUDIZATION: COSTS AND BENEFITS TO SAUDI ARABIA i A Projeqt Presented to the I Faculty of California State University, San Bernardino by I Sulaiman Abdulrahman Al-Khuzaim Date I I I ABSTRACT Following the discovery of oil in Saudi Arabia, five year plans for economic development and modernization followed. Foreign workers were needed to provide the skills required for the projects designed by the plans. Although most of the major projects have been completed, a high percentage of foreign workers continue to be employed i in the Kingdom.
    [Show full text]
  • Financial Crisis, Euro Perspectives and the Balkans ______
    EAST-WEST Journal of ECONOMICS AND BUSINESS Journal of Economics and Business Vol. XV – 2012, No 1 & 2 (17-35) _______________________________________________________ FINANCIAL CRISIS, EURO PERSPECTIVES AND THE BALKANS __________________________________________________________________ 1 Ansgar BelkeTPF FPT Univesrsity of Duisburg-Essen and DIW Berlin, Germany ABSTRACTU :U After having pointed to the large-scale problems of the status quo related to the euro area financial and debt crisis we describe the current crisis management framework and assess what its consequences and institutional follow-ups are. We then look at the implications of the latter for the Balkans: do they imply trouble for the Balkan EU perspective? We also briefly sketch what needs to be done in institutional terms in order to prevent future crises. The main part of the paper is devoted to an assessment of the seminal proposal of a European Monetary Fund. We derive that it is a preferable blueprint in our context. We finally convey an outlook on different issues: first on the still open and critical issues in euro area crisis management, second on the interaction of bank and sovereign debt resolution and, finally, also on the future economic performance of the Balkans, i.e. Croatia, Macedonia joint with Turkey, with an 1 TP PT e-mail: [email protected] I am grateful for valuable comments from Fabrizio Coricelli, Camelia Turcu and other participants in the Conference 'Europe and the Balkans: economic integration, challenges and solutions', Orléans, February 3-4, 2011. This paper is also based on presentations at the Jeddah Economic Forum, the Global Economic Symposium Istanbul and the InWent Conference on Exit Strategies Mumbai 2010.
    [Show full text]
  • Bowl Round 2
    2017-2018 IHBB Beta Bowl 2017-2018 Bowl Round 2 Bowl Round 2 - MS First Quarter (1) This country’s parliament recently held an underwater session to call attention to global warming, which threatens its population living on low-lying islands. This country’s population primarily speaks a language related to Sinhalese, spoken on Sri Lanka to its northeast. For ten points, name this Indian Ocean island nation that has become popular among honeymooning couples for its resorts featuring romantic bungalows that have been built over the water. ANSWER: Maldives (2) An early metal version of these objects was called the pot-de-fer, and culverins were portable types of these items. The Hungarian engineer Orban designed a massive one of these objects that malfunctioned and killed him. Vauban designed star forts to defend against these weapons, which Mehmed II used to destroy the walls of Constantinople in 1453. For ten points, name these gunpowder- based artillery pieces. ANSWER: cannons (or bombards; prompt on artillery before mentioned; prompt on supergun; do not prompt on gun, weapon, or other too-vague terms) (3) This country’s prominent businesswomen include Lubna Olayan, who gave a historic address in 2004 at the Jeddah Economic Forum. This country was the target of an incoming missile in 2017 that was fired by rebels in Yemen to its south. For ten points, name this country where, in 2017, King Salman lifted a restriction on driver’s licenses that will, eventually, allow women to drive in Riyadh and Mecca. ANSWER: Kingdom of Saudi Arabia (4) In 2010, nine activists trying to bring aid to this territory were killed when their “Freedom Flotilla” was raided.
    [Show full text]
  • Doing Business Guide 2021: Understanding Saudi Arabia's Tax Position
    Doing business guide 2021 Understanding Saudi Arabia’s tax position Doing business guide | Understanding Saudi Arabia’s tax position Equam ipsamen 01 Impos is enditio rendae acea 02 Debisinulpa sequidempos 03 Imo verunt illia 04 Asus eserciamus 05 Desequidellor ad et 06 Ivolupta dolor sundus et rem 07 Limporpos eum sequas as 08 Ocomniendae dit ulparcia dolori 09 Aquia voluptas seque 10 Dolorit ellaborem rest mi 11 Foccaes in nulpa arumquis 12 02 Doing business guide | Understanding Saudi Arabia’s tax position Contents 04 About the Kingdom of Saudi Arabia 06 Market overview 08 Industries of opportunity 10 Entering the market 03 Doing business guide | Understanding Saudi Arabia’s tax position About the Kingdom of Saudi Arabia The Kingdom" of Saudi A country located in the Arabian Peninsula, Throughout this guide, we have provided the Kingdom of Saudi Arabia (KSA, Saudi our comments with respect to KSA, unless Arabia is the largest Arabia or The Kingdom) is the largest oil- noted otherwise. oil-producing country producing country in the world. in the world Government type Monarchy " Population (2019) 34.2 million GDP (2019) US$ 793 billion GDP growth (2019) 0.33% Inflation (2019) -2.09% Labor force (2019) 14.38 million Crude oil production, petroleum refining, basic petrochemicals, ammonia, Key industries industrial gases, sodium hydroxide (caustic soda), cement, fertilizer, plastics, metals, commercial ship repair, commercial aircraft repair, construction Source: World Bank, General Authority of Statistics 04 Doing business guide | Understanding Saudi Arabia’s tax position 05 Doing business guide | Understanding Saudi Arabia’s tax position Market overview • Saudi Arabia is an oil-based economy Government with the largest proven crude oil reserves Government type Monarchy in the world.
    [Show full text]