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Stability Of Key Saudi Sectors To Attract More Foreign Investments, Drive National Economic Growth
Published Dec 15, 2009
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Stability across key project-driven sectors in Saudi Arabia will attract more foreign investments and accelerate economic growth to put the Kingdom at the forefront of the region’s recovering economies, according to Collaboration, Management and Control Solutions (CMCS), a leading Project Portfolio Management firm in the Middle East.
Recent industry reports have shown that the KSA’s real estate industry is expected to sustain an annual growth rate of between 5 to 7 per cent through 2012, driven by strong domestic housing demand, expanding business development projects and a surging hospitality sector. The country’s telecommunications sector, the largest in the Gulf, is in a similarly thriving state, with the mobile market in particular growing rapidly in the past years to surpass the 100 per cent penetration mark. Although significantly impacted by the financial crisis, the petrochemical sector is being streamlined by government and primed for further expansion, with profitability expected to increase at a compound annual growth rate of more than 6 per cent in the next two years.
Other businesses which will continue to positively impact Saudi Arabia’s competitiveness and development are banking, which remains minimally exposed to and resilient against the global downturn, and healthcare, which is set for 12 per cent growth through 2012.
“The KSA represents one of the most optimistic markets from both regional and global perspectives. CMCS recently opened two local offices to provide the kind of project management support necessary to sustain the growth of the Kingdom’s project-based sectors. We intend to play a key role in realizing the immense market potential of the country and helping it continue its development momentum,” said Bassam Samman, CEO and Founder of CMCS.
Collaboration, Management and Control Solutions, the recipient of 49 awards from Oracle Primavera, currently serves more than 1,500 clients. The company is a registered education provider for PMI, AACE, CSI and IIBA. CMCS deploys state-of-the-art technology solutions from Oracle’s Primavera product line and from those of other industry leaders such as Hard Dollar, Deltek, EcoSys, ADePT, eTimeMachine, and Synchro.
For more information please contact:
DNA Communications
P.O. Box: 191117, Dubai
T. 00971 4 3988490
F. 00971 4 3988491
E. info@dnacomm.com
W. www.dnacomm.com
Posted by
VMD - [Virtual Marketing Department]
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