Saudi investments beyond oil and gas
Basil Al Ghalayini, Chairman and CEO of BMG Financial Group, introduced a new Saudi Arabian legislation implemented recently in the Stock Exchange. “I encourage Saudi investors to invest in real estate in Europe and vice versa I entice European investors to the Kingdom of Saudi Arabia by offering them financial packages” said Al Ghalayini. The KSA is dependent on oil, which is the country’s key source of income. However, the private sector has been recently encouraged to greater activity. “We have so-called economic cities. The KSA is the largest recipient of direct foreign investment in the Middle East.” He also presented the possibilities of mediation for getting to the Saudi financial market as well as the benefits of local financial environment, including the 5th place in the world regarding the tax freedom, the membership in the G20 or, for example, fully automated property registration.
Another speaker to present his company was Ing. Peter Vízdal, MBA, Business Development Director of Škoda Transportation. He pointed to the company’s tradition as Škoda Plzeň was founded in 1859. “This is one of the most valuable brands in the country.” Škoda is currently becoming a more and more renowned world supplier of low-floor trams. It cooperates with world famous designers (Porsche). During last year, the company increased its sales by one fifth to CZK 17.8 billion.
Mgr. Jakub Joska, a law attorney and Managing Partner of K + F Legal, introduced a suitable investment tool which is the funds of qualified investors. “Everyone wants to invest with maximum security,” said Joska and described a strict regulation by the Czech National Bank.