2006 News Story

Kingdom is the Arab world’s top business destination

Saudi Arabia has been ranked the Arab world’s top business destination by the World Bank and the International Finance Corporation (IFC)’s 2007 Ease of Doing Business Index. Overall, Saudi Arabia ranked 38th out of 175 countries included in the index.

The report compares a country’s regulations that enhance or restrict a company’s ability to grow, invest, and increase productivity.

Some items of note: In registering property, Saudi Arabia ranked fourth overall. The index found that it only takes four days for a company to acquire a property title to expand operations. In the category of paying taxes, Saudi Arabia ranks sixth, one of the most competitive in the world; the total tax a company is required to pay on its gross profit is as low as 14.9 percent. Saudi Arabia also cut the number of days required to start a business to 39 from 64.

Singapore was the top ranked country, followed by New Zealand at No. 2 and the United States at No. 3.