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    Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

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    Green Certifications: A Strategic Imperative for GCC Food Producers

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    UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

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    Ethical Food Market Outlook 2025–2034: Size, Growth, Trends & Forecast

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    Oman Grants Licences to 24 Integrated Aquaculture Farms in 2024

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    Global Agrifood Systems Require $1.1 Trillion Annually to Achieve Sustainability Goals by 2030

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    FAO Report Highlights Severe Agricultural Land Degradation Across the Arab Region

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    Oman: Over 250 Model Farms Drive Fruit Production Growth in Dhahirah

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      UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

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      Oman’s GDP Expands 4.7% on Non-Oil Sector Growth

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      Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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      Middle East Gaming Market to Surpass $42 Billion by 2033, Driven by Youth Demand and Mobile Adoption

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      Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

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      Consumer Electronics Boom Continues Across GCC, Middle East

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      Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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      Oman Signs $520 Million Salt Mining Deal as Part of Mining Sector Expansion

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        Qatar’s Construction Sector Poised for Transformation, Says New Report

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        Jeddah Tower Set to Claim Title of World’s Tallest Building

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        Iraq to Establish Four New Desalination Plants in Basra

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        Whitewill Expands into Oman’s Real Estate Market Amid Rising Foreign Investment

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        Iraq to Develop 60 New Cities to Address Housing Crisis

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        Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

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          Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

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          Iraq Aims for 12 GW of Renewable Energy by 2030

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          Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

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          Iraq and Power China International Sign Deal to Strengthen National Power Grid

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          Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

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            Qatar’s Health Spending Set to Climb 14% by 2029

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            Qatar and the UK Explore Deeper Cooperation in Healthcare

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            Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

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            Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

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              Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

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              Oman Awards Over $600 Million in Contracts for Tourism Expansion

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              Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

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              Oman Secures $6.7 Billion in Tourism Investments Toward $7.8 Billion Goal by 2025

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                Abu Dhabi’s Aldar Targets 87% Construction Waste Recycling In 2025 Sustainability Push

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                Packaging Becomes Lifeline for Struggling Print Industry

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                  UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

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                  Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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                  Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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                  Saudi Arabia’s ICT Spending Tops $10 Billion: Key Trends and What’s Ahead

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                    Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

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                    Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

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                    Baghdad Metro Project Moves Forward Under New Implementation Strategy

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                    Iraq Launches New US$930 Million Railway Project to Strengthen Connectivity and Drive Economic Growth

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                      Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

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                      Green Certifications: A Strategic Imperative for GCC Food Producers

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                      UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

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                      Ethical Food Market Outlook 2025–2034: Size, Growth, Trends & Forecast

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                      Oman Grants Licences to 24 Integrated Aquaculture Farms in 2024

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                      Global Agrifood Systems Require $1.1 Trillion Annually to Achieve Sustainability Goals by 2030

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                      FAO Report Highlights Severe Agricultural Land Degradation Across the Arab Region

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                      Oman: Over 250 Model Farms Drive Fruit Production Growth in Dhahirah

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                        Saudi Arabia’s PPR Pipes Market to Reach 34,119 Tons by 2033, Driven by Sustainability, Infrastructure Expansion, and Water Conservation Efforts

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                        UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

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                        Oman’s GDP Expands 4.7% on Non-Oil Sector Growth

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                        Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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                        Middle East Gaming Market to Surpass $42 Billion by 2033, Driven by Youth Demand and Mobile Adoption

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                        Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

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                        Consumer Electronics Boom Continues Across GCC, Middle East

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                        Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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                          Qatar’s Construction Sector Poised for Transformation, Says New Report

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                          Jeddah Tower Set to Claim Title of World’s Tallest Building

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                          UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

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                          Iraq to Establish Four New Desalination Plants in Basra

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                          Over 111 km of Internal Road Projects Underway in Oman’s Al Dhahirah Municipality

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                          Saudi Arabia’s PPR Pipes Market to Reach 34,119 Tons by 2033, Driven by Sustainability, Infrastructure Expansion, and Water Conservation Efforts

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                          Whitewill Expands into Oman’s Real Estate Market Amid Rising Foreign Investment

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                          Iraq to Develop 60 New Cities to Address Housing Crisis

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                          Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

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                            Lebanon Moves to Build New Gas Power Plants as Part of Reform Program

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                            Turkish Firm ENKA Secures $289M Contract to Upgrade Power Plant in Iraq’s Sulaymaniyah

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                            Oman Seeks Bids for Two Major Substation Projects

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                            Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

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                            Qatar 2025: From Energy Powerhouse to Innovation Leader

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                            Iraq Aims for 12 GW of Renewable Energy by 2030

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                            Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

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                            Iraq and Power China International Sign Deal to Strengthen National Power Grid

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                            Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

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                              Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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                              Qatar Medicare 2025 Returns to Doha as the Premier International Healthcare Platform

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                              Qatar’s Health Spending Set to Climb 14% by 2029

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                              Qatar Precision Health Institute and Qatar Foundation’s Pre-University Education Expand Collaboration to Inspire Future Scientists

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                              Qatar and the UK Explore Deeper Cooperation in Healthcare

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                              The View Hospital Becomes Qatar’s First Private Facility with a Dedicated Dialysis Unit

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                              Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

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                              Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

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                              Hamad Medical Corporation Receives Global Recognition with JCI Accreditation

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                                Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

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                                Global Tourism Set to Reach 30 Billion Trips and $16 Trillion GDP by 2034

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                                Oman Awards Over $600 Million in Contracts for Tourism Expansion

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                                Qatar Expands Role as a Leading Global Tourism Destination

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                                Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

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                                Oman Secures $6.7 Billion in Tourism Investments Toward $7.8 Billion Goal by 2025

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                                Oman Unveils 3-Kilometer Tourist Walkway in Nakhal: A Transformative Step for Local Tourism

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                                Middle East’s Schengen Style GCC Tourist Visa Approved, to be Rolled Out ‘Soon’

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                                  Technological and Sustainable Innovation Drives Growth in Digital Printing

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                                  Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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                                  Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

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                                  Abu Dhabi’s Aldar Targets 87% Construction Waste Recycling In 2025 Sustainability Push

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                                  Qatar Strengthens Circular Economy with Expansion of Recycling Facilities

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                                  Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

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                                  Packaging Becomes Lifeline for Struggling Print Industry

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                                  MENA’s Coated Printing and Writing Paper Market Forecast to Grow 1.6% Annually Through 2035

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                                  Oman Recycles 2.4 Million Tonnes of Construction Waste in 2024

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                                    Technological and Sustainable Innovation Drives Growth in Digital Printing

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                                    UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

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                                    Dubai Launches Region’s First PropTech Hub to Back 200 Startups by 2030

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                                    Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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                                    Consumer Electronics Boom Continues Across GCC, Middle East

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                                    Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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                                    The Top 10 Emerging Technologies for 2025

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                                    Saudi Arabia’s ICT Spending Tops $10 Billion: Key Trends and What’s Ahead

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                                    GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

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                                      Iraq to Establish Four New Desalination Plants in Basra

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                                      Over 111 km of Internal Road Projects Underway in Oman’s Al Dhahirah Municipality

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                                      Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

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                                      Saudi Arabia’s PPR Pipes Market to Reach 34,119 Tons by 2033, Driven by Sustainability, Infrastructure Expansion, and Water Conservation Efforts

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                                      Iraq to Open Three Major Airports in 2025

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                                      Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

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                                      Major Road Infrastructure Upgrades Underway in Oman’s Dhofar Governorate

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                                      Baghdad Metro Project Moves Forward Under New Implementation Strategy

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                                      Iraq Launches New US$930 Million Railway Project to Strengthen Connectivity and Drive Economic Growth

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                                      Home Business & Economy Business

                                      Saudi new car sales to soar 15%

                                      The Saudi Gazette

                                      September 15, 2013
                                      in Business
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                                      New passenger car sales in Saudi Arabia is forecast to increase by 15 percent in 2014 to reach 609,500 units as compared to last year, and sees a 4.8 percent growth in new commercial vehicle sales over 2013 to reach 167,712 units, BMI said in its "Saudi Arabia Autos Report Q3 2013". All told, the total new vehicle market should see growth of some 12.6 percent, to reach 777,212 units.

                                      BMI maintains an upbeat view on the Saudi new car sales market at the mid-point of 2013. Early indications (from the first two months of the year) show that new vehicle sales are up by 14 percent, at 121,583 units. For 2013, BMI maintains its forecast for real GDP growth of 4.1 percent, rising to 4.6 percent in 2014 on the back of a slight rebound in oil exports.
                                       
                                      Business activity in the private sector remains supported by the government's loose fiscal policy stance, easy credit conditions and robust consumer confidence.

                                      Looking forward, BMI expects the government's fiscal policy stance "to remain broadly supportive of the economy over the coming quarters, with both current spending and capital expenditure continuing to see strong growth."

                                      Encouragingly for the autos sector, BMI expects private consumption to grow by 5 percent throughout 2013, with the retail sector having undergone a sustained boom since government spending began accelerating in 2011.

                                      BMI believes that the outlook for the retail sector is set to remain bright over the medium term, with sales benefiting from rising disposable incomes, favorable demographics and increasing urbanization.

                                      Consumer loans granted by Saudi commercial banks grew by 20.5 percent year-on-year (y-o-y) in 2012, with loans for the purchase of cars and equipment rising by 16.1 percent to reach SR57.4 billion.

                                      Rounding out a broadly-supportive picture is the fact that inflation remains relatively subdued, averaging 4.5 percent y-o-y in 2012 and set to fall to 4.1 percent in 2013, paving the way for local interest rates to remain at 2 percent. This will help with those customers who need to take out loans for their car purchases.

                                      In 2012, the dominant carmaker on the Saudi new car sales market remained Toyota Motor, which sold 263,851 cars and commercial vehicles, for a market share of nearly 37.5 percent. Some way back in second place was Hyundai on 123,782 units, or 17.6 percent share. Other key players in the Saudi new car sales market include Ford Motor and Chevrolet in the passenger car segment, and Isuzu Motors in the commercial vehicles segment.

                                      The outlook for domestic auto production will be transformed should Jaguar Land Rover (JLR) decide to establish production facilities in the country. The company originally announced plans to set up production facilities in Saudi Arabia in December 2012, in another significant move in the country's efforts to industrialize the economy and move away from its reliance on the oil sector.

                                      It also aligns with BMI's long-held view that the country is the best placed of the Gulf Cooperation Council (GCC) states to begin domestic vehicle production.
                                      The Saudi Gazette
                                      15 September

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