(MENAFN-Mid-East.Info) Dubai, United Arab Emirates: CBD Corporate Services Limited (CBD), a leading provider of business services in the Middle East, is pleased to announce its expansion with the opening of its office in Riyadh, Saudi Arabia. Through this venture, CBD will support its ever-growing footprint while providing customers with more choice and flexibility to access upcoming opportunities in Saudi Arabia. The CBD management team has over 50 years of legal and business expertise advising and assisting hundreds of international organizations and entrepreneurs in their entry into the Middle East market. It specializes in the structuring and licensing of all types of onshore and offshore companies. With its regional longevity and strong local network, CBD is the ideal partner for any organization looking to establish a solid and long-term foothold in the Saudi market and take advantage of the many regional opportunities it presents.
Business opportunities in Saudi Arabia
According to the World Bank, Saudi Arabia is among the top 10 Arab countries for ease of doing business and has the largest economy in the GCC with a GDP of $ 700 billion. In a few decades, Saudi Arabia has transformed into a modern and sophisticated state and a major player on the international scene. It is part of the G20 and one of the world’s largest economies, accounting for 22.5% of the Middle East’s total GDP. While crude is still important to Saudi Arabia, its economic diversification is driven by the Vision 2030 program, a reform responsible for massive developments in some non-oil sectors to create a post-oil future. The KSA offers a variety of investment opportunities for potential investors and in various industries including chemicals, IT, energy and water, industry and manufacturing, healthcare and real estate. . As part of KSA’s Vision 2030 economic diversification plan to attract international investment and grow the economy, Qiddiya Investment Company is developing breakthrough multi-billion dollar recreational and educational facilities. Ad Diriyah, a $ 17 billion project, is expected to set Saudi Arabia’s tourism wheels in motion through several luxury resorts from top international hotel brands, as well as more than 100 dining and entertainment options. Another megaproject worth $ 2.7 billion, located in Al Widyan, Riyadh, covers an area of seven million square meters and will create the world’s largest shopping and entertainment destination.
Recent projections released by the World Bank indicate that the Middle East’s GDP is expected to grow by 2.4% in 2021 due to major government reforms to recover from the economic recession caused by COVID-19. As a result, as there is a promising spike in the economies of the Middle East, investors should consider the Middle East and reap benefits such as a welcoming business environment, a relaxed tax regime, and a profitable business structure. .
Carl Dowling, Partner at CBD, said: “This is an exciting time for the company with our growth strategy to expand into the Middle East. Over the past decade, entrepreneurs, SMEs and multinationals have entrusted us with the mission of providing a secure business structure and on-the-ground expertise that has allowed our clients to focus on their business plans and to undertake successful business in the Emirates. We will continue to support the regional success of our clients by providing robust and reliable business services in the Kingdom. “
Wayne Merrick, Managing Director of CBD, added: “We have identified the vast opportunities in Saudi Arabia as part of the Vision 2030 master plan. We want to continue to apply our principles of legal and corporate expertise and ensure a World-class customer service in all of the markets we serve including UAE, Saudi Arabia and Oman.
CBD Corporate Services specializes in assisting entrepreneurs and investors of international organizations to establish the right legal presence for their businesses across the Middle East, with a particular focus on the United Arab Emirates, Oman and Saudi Arabia. . The CBD management team has over 50 years of combined legal and business expertise in the Middle East across all key industry sectors, specializing in market entry, business creation, (re) structuring business, licensing and visa services.
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