Investor Presentation 2020 slide image

Investor Presentation 2020

9 KSA & Telecom Industry (Q4 2019) Investor Presentation 2020 | stc group Macro Economy & Liquidity • • Saudi Aramco's world record-breaking IPO reaches $29.4 billion. Saudi Arabia became the first Arab nation to take over the G20 presidency. It will host world leaders for a global summit in its capital on November 21- 22. Base salaries will increase by 4.5 percent in Saudi Arabia by 2020, according to the annual Total Remuneration Survey (TRS) by global consultancy Mercer. Unemployment in Saudi Arabia currently stands at 12.3 percent, down from 12.9 percent last year, and Mohammed Al-Tuwaijri, the minister of economy and planning, expects it to fall further by the end of the year, according to reports. Saudi Arabia's energy minister said, the Khafji oil field which is jointly operated with Kuwait would produce 320,000 oil barrels per day (bpd) at the end of 2020, Saudi-owned al-Arabiya TV reported. Regulatory Environment Government Initiatives Saudi Arabia's Communication and Information Technology Commission (CITC) released a Request for Application (RFA) to issue licenses to foreign mobile virtual network operators (MVNO) and to enable them to invest in Saudi Arabia, CITC said in a statement. Custodian of the Two Holy Mosques King Salman ordered to extend the cost-of-living allowance for one additional year until the end of 2020. Saudi Arabia began offering tourist visas for the first time, offering e-visas and visas on arrival to citizens of 49 countries. Saudi Arabia has waived fees on expatriate workers employed in the industrial sector, one of the main economic segments eyed for development, for five years. Minister Al-Sawah stated that the Kingdom ranks first among the countries of the Middle East and North Africa in the size of the electronic games market and among the top 20 markets worldwide, with 4.6 million active players and revenues of about SR 2.8 billion in 2018, which calls for capturing the opportunities in the market through coordination between all stakeholders in the digital entertainment industry. stc
View entire presentation