Live Currency Rates
 
  Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- Al-Ghalayini: Tap into high growth sectors for potential opportunities  Join our daily free Newsletter

MENAFN - Arab News - 14/10/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Arab News) BMG Financial Group's CEO Basil Al-Ghalayini participated in the ninth annual Opportunity Arabia Seminar recently, which was organized by The Middle East Association in partnership with the Saudi Committee for International Trade.

Opportunity Arabia 9 aims to introduce British companies to a thriving and growing marketplace and to raise awareness with respect to the limitless business opportunities in Saudi Arabia. In his role, Al-Ghalayini presented some of the high growth sectors in the Kingdom like health, housing and energy, which gave British businessmen and companies an insight into investment opportunities, sizes and future speculations within these sectors across the Kingdom.

The seminar enabled ample networking with experts including keynote speakers like Sir Alan Munro, British Ambassador to the KSA from 1989-1993; Omar Bahlaiwa, secretary general of the Council of Saudi Chambers; and Sir Sherard Cowper-Coles, business development director, international, BAE Systems. The banking, oil and gas, Saudi women in leadership positions, green issues in the construction sector, industrial clustering, health, and education were represented among the other participating guest speakers.

Within the housing sector, Al-Ghalayini shared insights comparing the Kingdom to other GCC countries within this sector, highlighting the current real estate market boom, with massive infrastructure investment providing the basis for growth and a positive outlook for most sectors of the real estate market. A key characteristic of the Saudi market is that local buyers and not foreign investors primarily generate demand. As the demand is increasing, approximately 275,000 housing units/year need to be built from 2012 to 2015, the majority of housing developers are focusing more on the affordable housing segment for lower and middle-income classes.

The total spending in housing development will increase to 30 billion by 2016 in which the housing construction will account 31 percent of total construction sector, offering sizable opportunities for companies specializing in this segment, especially in affordable housing.

In regards to the energy sector, Al-Ghalayini shared that over the next 5 years, Saudi Arabia plans to spend over 100 billion on energy related projects, with 60 billion toward power projects.

Experts suggest that the demand for electricity in Saudi Arabia will increase by 25 percent during the next five years. With the massive industrial development in the Kingdom, the electricity demand is expected to increase in 2020 to 67,000 MW. As a result, the Saudi government is raising its electricity production and distribution capacity, focusing on renewable energy, water treatment and seeking to reduce the overwhelming consumption of electricity and its waste in lighting, air-conditioning and water desalination, among others.

In his discussion on health care, Al-Ghalayini noted that this sector is one of the largest in the region in terms of expenditures, size, activity and potential. At present, the Saudi government funds most of the demand for health care capital and operating expenditures. To ensure that Saudi nationals' health needs are met without adversely affecting economic progress is to increase private sector participation in the health care system. Only by attracting partners from the private sector who can bring world-class medical knowledge, management skills, and capital to the sector, Saudi Arabia will be able to make high-quality health care available to everyone in Saudi society.

In 2010, the government has allocated in its Five-Year Plan 73 billion to various initiatives. Measures include the construction of 117 hospitals, 750 primary health care centers, and 400 emergency centers. Health care spending in Saudi Arabia has increased significantly over the past few years. A high prevalence of lifestyle diseases including obesity, diabetes, and cardiovascular diseases will considerably increase the spending on pharmaceutical, hospital services and medical devices in the future.

Al-Ghalayini concluded that the current Saudi 5-year Development Plan aims to achieve an annual GDP growth rate of 5.2 percent making it one of highest in the world. Through continued investment incentives, private sector, including FDIs, growth is expected to average 6.6 percent annually. Overall, as the case with the Kingdom's development plans over the years, the Government will focus on spending its budget in areas, which will increase the Kingdom's comparative advantages to optimize economic growth and improve the social welfare.

 






  MENA News Headlines
Apr 24 2014Qatar- HH Sheikha Moza Meets Mayor of Kobe Visits RIKEN Research Institution ,Qatar News Agency
(MENAFN - Qatar News Agency) Kobe April 24 - Her Highness Sheikha Moza bint Nasser Chairperson of Qatar Foundation for Education Science and Community Development (QF) today held a meeting with the ...

Apr 24 2014Qatar- Sidra-BMC Event Boosts Biomedical Research Publishing ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - A symposium organised jointly by Sidra Medical Research Centre and BioMed Central (BMC) mulled trends in research and on open access publishing here ...

Apr 24 2014Qatar- Mannai Corp Q1 Net Profit up 73% to QR 150.1 Million ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Exchange listed Mannai Corporation (QE: MCCS) net profit is up 73% to QR 150.1 Million for the first quarter of fiscal year 2014 ending March 31 ...

Apr 24 2014Bahraini firms forecasted to grow 10 pct ,MENAFN
(MENAFN) In a report based on a study of over 650 companies across GCC, Kuwait Financial Centre (Markaz) forecasts a growth of the Bahraini companies' earnings by 10 percent in 2014, Gulf Daily News ...

Apr 24 2014Israeli Army Storms Deir Samit Village West of Hebron ,Qatar News Agency
(MENAFN - Qatar News Agency) bron April 24 - Israeli army forces stormed at dawn Thursday Deir Samit village southwest of Hebron city in the West Bank. The Israeli forces conducted raid and search ...

Apr 24 2014Qatar Airways to add more seats on Doha-Vienna route ,MENAFN
(MENAFN) Qatar Airways plans to offer more 1.700 seats on its Doha-Vienna route beginning from September 2014, according to Gulf News. The company aims to expand the growing passenger demand from ...

Apr 24 2014Qatar- QFC Authority Five-a-Side Football Tournament Kicks Off ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Financial Centre (QFC) Authority's first Five-a-side Football Tournament is displaying dribbling skills of executives from Doha's financial ...

Apr 24 2014Qatar Stock Exchange Down 0.05% ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - The Qatar Exchange ended in the red area when trading closed Thursday at 12954.93 points (0.05%) down 6.63 points from the previous closing of 12961.56 ...

Apr 24 2014Israeli Tanks Enter Gaza Border area ,Qatar News Agency
(MENAFN - Qatar News Agency) Gaza April 24 - Six Israeli military tanks on Thursday entered a border area in the southern Gaza Strip witnesses said. The tanks crossed into Gaza in an area called ...

Apr 24 2014Georgian Justice Minister Leaves Doha ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - HE Minister of Justice of Georgia Tia Tsulukiana left Doha on Thursday morning wrapping up a two-day official visit to the country. An agreement on ...

Apr 24 2014Egyptian Premier Off to Chad ,Qatar News Agency
(MENAFN - Qatar News Agency) Cairo April 24 - Egyptian Prime Minister Ibrahim Mehlib left cairo on Thursday for Chad the first leg of a three-day two-state trip that will also take him to Tanzania ...

Apr 24 2014Australian Federal Parliament Deputy Speaker Meets HE Qatari Ambassador ,Qatar News Agency
(MENAFN - Qatar News Agency) Canberra April 24 - Australian Federal Parliament Deputy Speaker Bruce Scott met here Thursday with HE Qatar's Ambassador to Australia Yousef bin Ali Al ...

Apr 24 2014President Salva Kiir Relieves his Chief of the General Staff ,Qatar News Agency
(MENAFN - Qatar News Agency) Juba April 24 -South Sudanese President Salva Kiir relieved Chief of the General Staff of south sudan army James Hoth Mai. This came in a presidential decree aired ...

Apr 24 2014Omani non-oil exports to enter African markets ,MENAFN
(MENAFN) A senior official at the Oman Chamber of Commerce and Industry (OCCI) said that the Sultanate is seeking expansion in new African markets, in a time it is looking forward to reduce its ...

Apr 24 2014Afghan Guard Shoots Dead 3 Foreigners in Hospital ,Qatar News Agency
(MENAFN - Qatar News Agency) Kabul April 24 - Three foreigners including a doctor were shot dead and their colleague wounded when a guard of a private Cure Hospital opened fire on them in the ...

Apr 24 2014US Secretary of State Meets Egyptian Intelligence Chief ,Qatar News Agency
(MENAFN - Qatar News Agency) shington April 24 - US Secretary of State John Kerry has met with the Egyptian Intelligence Chief Major General Mohammed Ahmed Fareed al-Tohami who is currently ...

Apr 24 20143 GCC countries among top 30 on network readiness index ,MENAFN
(MENAFN) According to an annual global technology survey for network readiness index for 2014, three GCC countries have made it to the top 30 list for the third year in a row, Gulf Daily News ...

Apr 24 2014Uruguay Public Health Minister Meets HE Qatari Ambassador ,Qatar News Agency
(MENAFN - Qatar News Agency) Montevideo April 24 -Minister of Public Health in Uruguay Maria Susana Mu?iz met here on Thursday with HE qatari ambassador to the republic of Uruguay mohamed hassan ...

Apr 24 2014Morocco Admitted As Observer Member to SICA ,Qatar News Agency
(MENAFN - Qatar News Agency) La Romana Dominican April 24 - Morocco has been admitted as an observer member in the Central American Integration System (SICA) which also includes each of Belize ...

Apr 24 2014King bids to reassure Saudis as MERS deaths hit 85 ,AFP
(MENAFN - AFP) King Abdullah was in the Saudi commercial hub of Jeddah on Thursday in a bid to reassure a worried public as the death toll from the MERS virus hit 85. The Red Sea city has seen a ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help