[COVER STORY] The Chairman of FCC, Sultan AlSadoon

What is the FCC's specific role in Saudi Arabia.

- FCC is a financial and business management advisory firm specializing in investment structuring, operating across over 7 countries worldwide.

In addition, please introduce the Chairman of FCC, Sultan AlSadoon.

- I have more than 30 years of international experience in the finance, investment and international relation development industry.

Please explain ‘Saudi Vision 2030’.

- ‘Saudi Vision 2030’ is a strategic blueprint launched by the Saudi Arabian government to reduce the country's dependence on oil, diversify its economy, and transform its society. It aims to achieve this through various initiatives such as privatization, investment in new industries like tourism and entertainment, and social reforms to empower the youth and women. The vision is centered around three main pillars: a vibrant society, a thriving economy, and an ambitious nation.

The FCC Dikinz Group has played a major role in investment and trade between Korea and Saudi Arabia. What advice world you give Korean companies that want to enter Saudi Arabia?

- Saudi Arabia has implemented various measures to overcome the fear of foreign investors. The government has established transparent and stable regulatory frameworks, providing clear and consistent regulations to instill confidence in investors and assure them of the protections they can expect.

Additionally, Saudi Arabia offers incentives such as tax breaks, subsidies, and other financial benefits that can reach up to 70% to attract foreign investment and make the country more appealing for investors. Political stability is ensured, reducing uncertainty and encouraging long-term investment. Infrastructure development is prioritized, with investments made in transportation networks and utilities to enhance efficiency and reduce costs for investors. The government fosters a business-friendly environment by streamlining bureaucracy, reducing red tape, and facilitating the ease of doing business in the country. Transparency and accountability are promoted in government policies and business dealings, helping to build trust with foreign investors. Furthermore, successful foreign investment stories are showcased to demonstrate Saudi Arabia's potential and alleviate investor apprehension and as for our Korean investors, FCC&Dikinz ensures local knowledge and support.

Are there any necessary conditions for a Korean company to succeed in Saudi Arabia?

- As a financial consultancy firm, we provide tailored services to assist Korean companies in entering the Saudi Arabian market successfully. Our services include comprehensive market research and analysis to assess opportunities and risks, financial feasibility studies to evaluate expansion plans, financial regulatory compliance assistance, financial planning and risk management, project investment financial advisory, strategic partnerships and networking facilitation, financial modeling and valuation. By leveraging our expertise, Korean companies can navigate the complexities of the Saudi market and enhance their chances of success.

The FCC is making efforts to get the Saudi Arabian Taif provincial goverment’s business into full swing. Please explain the introduction of the Taif and the direction of development.

- Taif, nestled in the Makkah Province of Saudi Arabia, has risen as a prominent tourist destination and economic center, thanks to its mild climate, scenic landscapes, and rich history. The city's development strategy revolves around key aspects: Firstly, tourism development capitalizes on Taif's natural beauty and cultural heritage, with investments aimed at enriching visitor experiences and establishing it as a premier destination. Secondly, economic diversification initiatives seek to move beyond traditional sectors, enticing investments in technology, healthcare, and education for sustainable growth and job creation. Thirdly, significant infrastructure expansion supports the burgeoning population and economic activities, enhancing transportation, utilities, and public amenities. Lastly, environmental conservation efforts prioritize preserving Taif's natural allure and heritage sites, ensuring sustainable prosperity. Overall, Taif is poised to emerge as a dynamic, sustainable destination for residents and tourists alike, leveraging its unique assets and fostering econoWe are also honored to be rewarded and recognized by the Korean embassy in Saudi Arabia for promoting economic cooperation and friendship between both countries. mic resilience which makes it perfect for investors.

I hope that collaboration with the 27-year-old mediagroup Sisamagazine will be a win-win for the economic development of the two countries. Please say something to the current affairs of Sisamagazine.

- Thank you for introducing Saudi Arabia and its Vision to South Korea, as well as clarifying the economic and investment opportunities available in the kingdom.