This is my last article of 2019. Personally, I believe it was the busiest year in terms of business activities, reforms, new laws, local and international events in our recent history.
This year also witnessed perhaps the biggest event in the business world — the initial public offering (IPO) of Saudi Aramco. It would not be an exaggeration to call 2019 a year of several milestones for the Kingdom.
In 2019 different sectors were witnessed — financial, tourism, entertainment, pharmaceuticals and others — attract local and foreign capital directed to existing or new businesses. A World Bank report published earlier this year gave impressive statistics listing tangible improvements and enhancements for doing business in the country.
BMG Financial Group have also witnessed busy traffic of international clients discussing, negotiating and signing mandates with leading global companies who want to set up partnerships in Saudi Arabia.
The last one was signing an advisory mandate with Deutsche Post DHL Group, the largest logistics and transportation company in the world, to explore partnership opportunities in Saudi Arabia. It is a vote of confidence in the country’s attractive business environment to host such vital and crucial sectors.
Several ministries and government agencies played active roles in achieving several milestones in 2019.
The market value of the Saudi stock market hit over SAR5.63 trillion (around $1.5 trillion) making it among the top 10 stock markets in the world.
this momentum is expected continue next year and beyond. In 2020, it seems the Kingdom will witness an unprecedented growth in its gross domestic product.