The Business Year (TBY), an international business and consultancy firm, has signed a far reaching partnership with The Jeddah Chamber of Commerce and Industry (JCCI) to facilitate the publication of ‘The Business Year: Saudi Arabia 2014.
The memorandum of understanding (MoU) was agreed upon by Paul Loomis, country editor at The Business Year, JCCI Vice Chairman Mazen Batterjee and Henna Al-Maimani, manager of the Jeddah Economic Forum.
The agreement strengthens TBY’s first macroeconomic research project on Saudi Arabia, complementing an agreement with the Riyadh Chamber of Commerce and Industry.
The annual edition will feature interviews with business and political leaders and will be distributed extensively around the world. Featuring chapters on diplomacy and politics, economy, finance, energy, real estate and construction, transport, health and education, agriculture and tourism, the issue aims to be the most comprehensive English-language publication on the Saudi business environment to date.
Batterjee welcomed the partnership and reaffirmed his organization’s commitment to informing the international investment community about business opportunities in Saudi Arabia and the Red Sea port city of Jeddah.
The JCCI is among the oldest chambers of commerce in Saudi Arabia, and works to protect and develop the business interests of its members. Its mission is economic development of the Western province, and in order to meet this mandate it regularly hosts business delegations from around the world. It organized the Jeddah Economic Forum, which ended on Thursday.
The forum was among the largest gatherings of business leaders in the country, and TBY featured as a media partner for the event.
Loomis noted that the Saudi economy is rife with potential for investors and businesses with a comprehensive understanding of the market space and strong strategies.
“The demand for intelligence from the Saudi market is substantial and growing,” he said. “Our work in the country will spread awareness to the international business community and help ambitious firms and individuals to enter the market successfully.”
He added, “Saudi Arabia represents the largest economy in the Gulf and stable oil prices in conjunction with strong government spending, advancing regulatory structures, and a diversifying economy will spur increased international attention and business interaction.”
Batterjee highlighted the importance of the relationship between the JCCI and TBY and said: “The JCCI’s role in the country is to promote business and trade, and Saudi Arabia is full of opportunities for those who are interested in doing so. Partnering with TBY will give in-depth business intelligence on the Saudi market starting in 2014, and will advance our mission by spreading the word about the Saudi economy. We are excited to begin this four-year partnership, which will ensure that decision-makers around the world remain informed about the most important figures in Saudi Arabia and their economic leadership.”
The Business Year’s interview-based format ensures that the views of leaders in each sector of the economy are represented. When The Business Year: Saudi Arabia 2014 is published in late May, TBY will have interviewed over 200 Saudi business leaders and top government officials. These interviews will be featured alongside expert analysis of each sector as well as submissions from guest speakers, including international figures commenting on Saudi Arabia’s economic future.