In order to boost entrepreneurship, Saudi Arabia should consider following a 1950s plan used to improve the Italian economy, which was done in partnership with the US, a recent paper by Michela Giorcelli of the University of California suggested.
Very low levels of R&D
Simple commercial model
The traditional Saudi business community is better described as “merchant” community rather than “entrepreneurs” due to their focus on arbitrage as their primary business model. Vision 2030 acknowledges this, and aims to turn a higher proportion of Saudi business people into dynamic entrepreneurs, such as those more commonly found in the US.Omar Ubaydli