The U.S.-Saudi Arabian Business Council (USSABC) hosted a webinar on May 12, 2015, on the opportunities and legal considerations of doing business in Saudi Arabia’s healthcare sector. The event was one in a series of programs that the USSABC has held to attract investment to Saudi Arabia. Edward Burton, President and CEO of the U.S.-Saudi Arabian Business Council, moderated the event, which featured speakers from trade exhibition and conference management and marketing company Kallman Worldwide, Inc. and law firm King & Spalding LLP.
Mr. Burton began the webinar by providing some opening remarks that included statistics regarding the Saudi healthcare market. The 2015 Saudi budget provides $42.7 billion (SR160 billion) for Health and Social Affairs spending, a 48 percent increase from 2014. This represents 18.6 percent of the overall budget for 2015 and the second-highest figure allotted. Mr. Burton said that experts predict that Saudi Arabia’s healthcare sector will see a 9 percent CAGR over the next five years. Saudi Arabia’s dedication to improving its healthcare services will provide many opportunities for companies seeking to enter the market.
Joan Williams, Deputy Director at Kallman Worldwide, then discussed the company’s capabilities and events in Saudi Arabia. She spoke about the upcoming Saudi Health Exhibition in Conference taking place in Riyadh from May 18-20. Kallman Worldwide is organizing the U.S. Pavilion at the event, which represents one of the most effective ways to learn about and conduct business in the Saudi healthcare market.
Benjamin Newland and Nabil Issa, Partners at King & Spalding, followed Ms. Williams with a presentation on the legal aspects of the Saudi healthcare sector. Topics they discussed included ownership restrictions, distribution, partner identification, and legal issues, among others. Mr. Newland and Mr. Issa also elaborated on some of the common challenges and solutions for American companies seeking to enter the Saudi market.
USSABC members can view the full webinar recording here.
