Welcome to the website of the Riyadh Group for British Business

The Kingdom of Saudi Arabia is the largest country on the Arabian Peninsula. It borders Jordan on the north, Iraq on the north and north-east, Kuwait, Qatar, Bahrain, and the United Arab Emirates on the east, Oman on the south and south-east, and Yemen on the south, with the Persian Gulf to its north-east and the Red Sea to its west. 

Riyadh is the capital city of Saudi Arabia and is set approximately in the middle of the Arabian Peninsula. It is recognized as one of the fasted growing cities of the world with a population in excess of 4 million. Riyadh started it’s growth in the 1970’s when all embassies were relocated from Jeddah and is now the center of government and commercial activities in the country.

Riyadh is one of the fastest growing cities in the world with the population expected to reach 10 million by 2010.

Security:-

Until recently Saudi Arabia was considered one of the safest countries to live in but following a spate of terrorist activities over the last 3 years this perspective has changed. However the Saudi Government has taken a very robust stand on this and has clamped down hard on all dissident groups and appears to be getting the problem, more or less, under control. It should be noted that all western diplomatic sources are continuing to warn their dependents that care and sensible precautions should be taken if visiting the Kingdom. This has to be considered in the context of the world wide ongoing terrorist situation. For more information contact the British Embassy web sit on ukinsaudiarabia.fco.gov.uk

Religion:-

Islam is the official religion in Saudi Arabia and also forms the basis of the legal system (Sharia ). There are no other forms of religion allowed in the Kingdom and to save any problems on entry no Bibles or religious symbols should be brought into the country.

Government:-

Saudi Arabia is a monarchy with a political system rooted in Islamic Sharia law. The monarchy is the same family as the founder of modern day Saudi Arabia King Abdulaziz bin Abdelrahman Al-Saud, (1932-1963). He was followed by his sons: King Saud (1953-64), King Faisal (1964-75), King Khalid (1975-82), King Fahd (1982-2005) and the current ruler,  the Head of State and the Custodian of the Two Holy mosques is King Abdullah bin Abdul Aziz Al Saud, The First Deputy Prime Minister His Royal Highness Prince Sultan bin Abdul Aziz Al Saud and the Foreign Minister His Royal Highness Prince Saud al Faisal bin Abdul Aziz.

The country is run by The Council of Ministers (Majlis Al Shura) nominated by by the King and the Shoura Council, whose role is to formalize the existing political arrangements and debate new political legislation or social developments.

Economy:-

This is an oil-based economy with strong government controls over major economic activities. Saudi Arabia possesses 25% of the world's proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in OPEC. The petroleum sector accounts for roughly 75% of budget revenues, 45% of GDP, and 90% of export earnings. About 40% of GDP comes from the private sector. Roughly five and a half million foreign workers play an important role in the Saudi economy, for example, in the oil and service sectors. The government in 1999 announced plans to begin privatizing the electricity companies, which follows the ongoing privatization of the telecommunications company. The government is encouraging private sector growth to lessen the kingdom's dependence on oil and increase employment opportunities for the swelling Saudi population. Priorities for government spending in the short term include additional funds for education and for the water and sewage systems. Economic reforms proceed cautiously because of deep-rooted political and social conservatism.

Basic Economic Facts:-

Proven oil reserves (end-2004): 262.7bn barrels
Proven oil reserves as share of world total: 22.1%
Oil production (2004): 10.6mbd
Oil production as share of world total (2004): 13.1%
GDP (2003): US$215 billion
Population including expatriates (2003): 22.5 million
GDP per head (2003): US$9500
Annual growth rate in real GDP (1987-96): 3.0%
Annual growth rate in real GDP (2003, preliminary): 7.2% (oil 14.9%; non-oil 3.8% )
Consumer price inflation (2003, preliminary): 0.5%
Major sectors: Oil, petrochemicals, financial services, construction and building materials
Major destinations for Saudi exports: USA, Japan, Korea, EU
Major exporters to Saudi Arabia: USA, Japan, Germany, UK

Money:-
The Saudi Riyal is tied to the US Dollar at US$1.00 = SR3.75
The Saudi Riyal (SR) is divided into 100 halalahs. Coins are in denominations of 5,10, 25 and 50 halalahs.
Notes come in denominations of SR1, 5, 10, 20, 50, 100, 200 and 500 Riyals.

Websites:-

Further details can be obtained about Riyadh on the following websites.

The British Embassy ;-
For details of all the services offered in Saudi Arabia by UK government.
ukinsaudiarabia.fco.gov.uk 

Saudi Arabia Ministry of Culture & Information:-
A wealth of information on the Kingdom of Saudi Arabia, Riyadh.
www.saudinf.com

SAGIA’s mission is to provide services to the investor and to improve the investment climate in Saudi Arabia.
www.sagia.gov.sa

Riyadh Chamber Of Commerce:- Business hub of Riyadh.
www.riyadhchamber.org.sa

Supreme Commission for Tourism
www.sct.gov.sa   www.sauditourism.gov.sa   www.mas.gov.sa