As many people know, the Kingdom of Saudi Arabia opened its doors to the international scene welcoming, foreign tourists from around the world for the first time, by granting tourist visas to citizens coming from 49 countries.
This immense move is a part of the Crown Prince Mohammed bin Salman’s plan laid down in Saudi Vision 2030 which aims to develop new industries and explore possibilities for the Kingdom’s thriving economy.
The government’s development project aimed at achieving three main goals:
- A vibrant society, though investments in architecture, urbanism, culture and entertainment;
- A thriving economy, with the rise of employment rates and international competitiveness;
- An ambitious nation, through increased government efficiency, digital transformation, and non-oil revenues.
With its thriving economy, the Kingdom of Saudi Arabia truly has a lot of room for the development of new industries, and the expansion of its economy.
As Saudi Arabia opens itself to tourism, it also opens to a wide range of investment opportunities in many unexplored fields. In recent years, some of the fastest-growing industries in Saudi Arabia are Advanced Technologies, Entertainment and Hospitality, Financial Services, and Mining and Natural Resources.
Saudi Arabia’s recent changes in its policy is seen to make a great impact on these industries, pushing them up to new heights while also driving the development of new industries.
Diversification and Technology
The Kingdom of Saudi Arabia is striving to diversify its economy and attract foreign investments of innovative corporations, such as IT giants. This is why Google and Snap decided to invest in the country.
Technology is one of the investments that focus on the Vision 2030 strategy. This is why the Government created Badir, a nation-wide program aimed at helping start-ups based in Saudi Arabia. Local investment in Saudi Arabia is supported and encouraged and foreign entrepreneurs can now obtain the Foreign Investment License to operate in the Kingdom in a matter of days with a faster procedure.
That being said, the goals of Saudi Vision 2030 have created the ideal climate for international companies to invest in the county.
Working in Saudi Arabia
Since December 2019, Saudi Arabia made the process of employing foreign workers easier for Saudi entrepreneurs, with the introduction of an instant small business visa.
Expats already constitute 75% of the workforce, with over 9 million foreign workers.
The new visa will help start-ups drive the change towards a less oil-dependent economy. In 2018, non-extraction related economy already grew by 2.9 % thanks to the Government’s support.
Saudi Arabia’s national language which is also widely used in the Kingdom is the beautiful language – Arabic. The language itself is pure art, rich in culture and history. However, this poses a new challenge to the country’s developments and investors, even for tourists, as the imminent language barrier comes to play.
The translation and interpreting needs will be inevitable especially for the language combination English to Arabic and vice versa.
Finding the best language solution will play a huge role in the settlement and enhancement of businesses and industries overall.
Langpros in Saudi Arabia
Langpros, a Riyadh based Language services provider, was established almost a decade ago with its main office in Dubai, UAE.
Being supported by an entire team of linguists all around the globe. Langpros offers a wide range of top-quality language services such as remote interpreting, localization, copywriting and much more.
A qualified that will assist individuals and corporations in ensuring that they are well provided with the appropriate language solution, breaking every language barrier there is.