SEOUL, KOREA - This year’s anniversary of the National Day of the Kingdom of Saudi Arabia comes at a time when the comprehensive development renaissance, based on the foundation laid by the Founder His Majesty King Abdulaziz Bin Abdul Rahman Al Saud, continues apace.

Building on the intellectual, institutional, and management foundations established by the Founder King, and guided by his ideas and practices in development planning and economic management, the sons and successors of the Founding King have continued the efforts that led to the remarkable achievements and successes in all fields, which has been reflected in the continued rise of living standards, improvements in quality of life, comprehensive construction and industrial renaissance, as well as the advanced economic and social services throughout the country. These achievements are the clear testimony on the effectiveness of the developmental approach that has been adopted by the Kingdom

More than fifty years have passed since the establishment of diplomatic relations between the Kingdom of Saudi Arabia and the Republic of Korea in 1962. Since then, the relations between the two countries are witnessing a qualitative leap and amazing developments that have extended to all fields; political, economic, culturral, educational, military, health and others. Such developments are responsive to the policies and principles stipulated in mutual agreements, talks, and mutual visits by officials from the Kingdom of Saudi Arabia and the Republic of Korea.

With the establishment of the Saudi-Korea diplomatic ties in 1962, the Saudi-Korea bilateral relations in the early stages had witnessed a number of achievements, with the participation of Korean experts and manpower in the Kingdom to modernize its infrastructure, mainly with implementation of various projects for roads, public buildings, water desalination, power generation, information technology and many others.

It also paved the way to conclude more deals between the two countries to carry out such projects, based on the needs of the Kingdom and the requirements of its development.

Recent economic and trade data well confirm that the size of trade between the Kingdom and Korea has reached fifty billion dollars for the year 2012. The Kingdom of Saudi Arabia is the fourth largest trading partner to the Republic of Korea, while Korea is Saudi’s fifth largest one.

 

Introduction of Kingdom of Saudi Arabia

● Country Name : Kingdom of Saudi Arabia

● Land Size : 2,250,000 km square

● Capital : Riyadh

● Administrative Divisions : 13 provinces; Al Bahah, Al Hudud ash Shamaliyah, Al Jawf, Al Madinah, Al Qasim, Ar Riyad, Ash Sharqiyah (Eastern Province), 'Asir, Ha'il, Jizan, Makkah, Najran, Tabuk

● Main Natural resources : Petroleum, natural gas, iron ore, gold, copper

● Religions : Islam is the official religion

● Languages : Arabic

● National Holiday : 23 September 1932 (unification of the Kingdom of Saudi Arabia)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Discover Riyadh

Riyadh is the meeting place for the nation and the capital of the Kingdom. It is characterized by its geographical location since it is located in the central part of the Kingdom. It is home for the government and all governmental divisions and major companies as well as foreign embassies in the Kingdom.

 

Historical Sites & Sightseeing Places in Saudi Arabia

● Madain Salih

In 2008, the Archaeological Site of Al-Hijr (Madâin Sâlih) was enlisted to the UNESCO’s list of the world cultural heritage as the first UNESCO’s World Heritage property to be inscribed in Saudi Arabia. Formerly known as Hegra it is the largest conserved site of the civilization of the Nabataeans south of Petra in Jordan.

 

● Mosque in Mecca

As the city of Mecca is the holiest place in the entire Muslim world, Saudi Arabia is no stranger to travelers. For thousands of years, pilgrims have flocked to the country to worship at the Grand Mosque and the Kabaa

 

● Al-Masmak Palace

Al-Masmak was the starting point for King Abdul Aziz to recover the capital of his grandfathers. The palace was renovated and transformed into a public museum. The Gate is on the western side of the palace and made of palm date and tamarisk wood.

The Mosque is to the left side when entering the palace.

● National Museum of Saudi Arabia

The National Museum of Saudi Arabia is another top attraction. It is set in the sweeping grounds of the King Abdul Aziz Historical Area. It provides an extraordinary introduction to all aspects of the Kingdom's natural, religious, historical and social heritage.

 

Saudi Arabia :  a nation on the move

Saudi Arabia has long been recognized as a powerhouse of the Middle East. Now’s it’s poised to become one of the world’s top 10 most competitive nations and with that, one of the most lucrative markets for strategic investment.

Background
Saudi Arabia is the birthplace of Islam and home to Islam's two holiest shrines in Mecca and Medina. The king's official title is the Custodian of the Two Holy Mosques. The modern Saudi state was founded in 1932 by ABD AL-AZIZ bin Abd al-Rahman AL SAUD (Ibn Saud) after a 30-year campaign to unify most of the Arabian Peninsula. The country remains a leading producer of oil and natural gas and holds more than 20% of the world's proven oil reserves. The Kingdom of Saudi Arabia is also a member of G20.

Foreign investment
The variety of domestic and export-oriented investment opportunities in Saudi Arabia has attracted steadily increasing foreign direct investment as the economy has been progressively opened. Saudi Arabia’s rapid improvements have made the country an increasingly attractive destination for investment. The World Investment Report measured Saudi Arabia’s FDI inflows to be the 12th largest in the world and the highest amount in the MENA region.

Economic stability
Sound macroeconomic management and an inflection point in world energy markets have made the KSA’s economy stable, despite the global financial crisis. While much of the world economy has recently been affected by a global liquidity squeeze, Saudi Arabia’s twin surpluses in the government budget and current account have made KSA an attractive, high-liquidity environment for local and foreign ventures.

Market size
As the region’s largest economy and the world’s 19th largest, the sheer size of the markets that Saudi-based projects serve is “a competitive advantage, allowing Saudi businesses to benefit from economies of scale.”  With excellent access to Saudi and other MENA markets, as well as the advanced and emerging economies of nearby Europe and Asia, market exposure for Saudi-based projects is not only vast but also highly diversified.

A large, emerging market
The size of the Saudi Arabian ICT market provides excellent operational scale, as well as the advantages of locating in a technology hub catering to over 350 million Arabic-speakers in the region. Because Saudi society is young and growing rapidly, its consumer market is weighted heavily towards technologically literate early adopters. Arabization (digital content, software) activities enjoy strong growth prospects due to this large emerging market and the increasing supply of qualified software engineers coming available due to public and private training initiatives.

Good reasons to invest
Saudi Arabia is the region’s largest ICT market with strong growth in consumer and enterprise and markets.

Deregulation, privatization and WTO accession promoting private-sector opportunities—supported by significant investment incentives Public-private funding partnerships such as KACST’s R&D co-funding initiatives by KACST.

Strong commitment to e-commerce and e-governance initiatives (including IP protection).

Significant unmet demands for web-based and  mobile services; increased enterprise and government usage of web-based services provide large-scale opportunities for contractors and service providers