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Is saudi Arabia right for you?
The Kingdom of Saudi Arabia is the largest country on the Arabian Peninsula. It is bordered by Jordan on the northwest, Iraq on the north and northeast, Kuwait, Qatar, Bahrain, and the United Arab Emirates on the east, Oman on the southeast, and Yemen on the south, with the Persian Gulf to its northeast and the Red Sea to its west.
Population
Saudi Arabia has a population of approximately 24,735,000.
Political Structure
The central institution of the Saudi Arabian government is the Saudi monarchy. The Basic Law of Government adopted in 1992 declared that Saudi Arabia is a monarchy ruled by the sons and grandsons of the first king, Abd Al Aziz Al Hoati. It also claims that the Qur'an is the constitution of the country, which is governed on the basis of the Sharia (Islamic Law). According to the The Economist's Democracy Index, the Saudi government is the ninth most authoritarian regime in the world.
Infrastructure and Economy
Saudi Arabia's economy is Petroleum-based, roughly 75% of budget revenues and 90% of export earnings come from the oil industry. The oil industry comprises about 45% of Saudi Arabia's gross domestic product, compared with 40% from the private sector. Saudi Arabia officially has about 260 billion barrels of oil reserves, comprising about 24% of the world's proven total petroleum reserves.
To diversify the economy, Saudi Arabia launched a new city on the western coast with investments exceeding 26.6 billion dollars. The city which is named "King Abdullah Economic City" will be built near al-Rabegh industrial city north to Jeddah. The new city, where construction work started in December 2005, includes a port which is the largest port of the kingdom. Extending along a coastline of 35 km, the city will also include petrochemical, pharmaceutical, tourism, finance and education and research areas.
Saudi Arabia officially became a World Trade Organization member in December 2005.
Language
The official language is Arabic.
Currency
Riyal (SAR).
Exchange Control
None.
Law
Based on Shari'a law, several secular codes have been introduced. Commercial disputes are handled by special committees. Saudi Arabia have not accepted compulsory ICJ jurisdiction.
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Disclaimer
The materials contained on this web page are provided for general information only and do not constitute any form of legal definition or advice. IFC Recruitment assumes no responsibility for the accuracy of any particular statement and accepts no liability for any loss or damage which may arise from reliance on the information contained on this site.
References
1. Wikipedia profile: Andorra
2. CIA World Factbook entry: Andorra
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