Ballard Partners Seeks to Open Office in Saudi Arabia

Brian Ballard, founder and president of the US Ballard Partners (Photography: Abdul Rahman Al-Salem)
Brian Ballard, founder and president of the US Ballard Partners (Photography: Abdul Rahman Al-Salem)
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Ballard Partners Seeks to Open Office in Saudi Arabia

Brian Ballard, founder and president of the US Ballard Partners (Photography: Abdul Rahman Al-Salem)
Brian Ballard, founder and president of the US Ballard Partners (Photography: Abdul Rahman Al-Salem)

Ballard Partners, the American Government Relations Company,  announced its intention to open its first office in Riyadh. The US company’s move comes after the Saudi Council of Ministers agreed to allow foreigners to practice the legal profession in the Kingdom.

 

Brian Ballard, founder and president of Ballard Partners, said in an interview with Asharq Al-Awsat, shortly before his departure from Riyadh, that he received a great welcome from the government, adding that he was excited about the possibility of opening an office in the country.

 

He revealed that his company has found in Abdullah Al-Meleihi, Chairman of Saudi Excellence Company, a reliable partner through which it will enter the Saudi business environment.

 

Ballard expressed his astonishment at the outcome of the programs launched by Saudi Crown Prince Mohammed bin Salman, through Vision 2030, which he said revitalized the business environment and attracted international investors.

 

Asked about the meetings he held in Riyadh, the president of Ballard Partners said that the purpose of his visit was to explore work opportunities in the country, adding that he discussed with Saudi officials means to best serve the customers by opening the firm’s first office in Saudi Arabia.

 

Ballard noted that he was very impressed by the opportunities offered not only to his company, but also to the clients it represents.

 

Underlining the importance of the Saudi endeavor to attract foreign firms, he indicated that the reforms, which have regulated all aspects of business activities in the Kingdom, were very meaningful and transparent to the point that any company can come and find a suitable environment to launch its business.

 

Ballard stressed that major US firms, accounting firms, as well as companies providing professional services, have a prosperous business future in Saudi Arabia, expecting the coming period to witness more American investments in the country.



Moody's Upgrades Saudi Arabia's Credit Rating

Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
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Moody's Upgrades Saudi Arabia's Credit Rating

Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters

The credit rating agency “Moody’s Ratings” upgraded Saudi Arabia’s credit rating to “Aa3” in local and foreign currency, with a “stable” outlook.
The agency indicated in its report that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification and the robust growth of its non-oil sector. Over time, the advancements are expected to reduce Saudi Arabia’s exposure to oil market developments and long-term carbon transition on its economy and public finances.
The agency commended the Kingdom's financial planning within the fiscal space, emphasizing its commitment to prioritizing expenditure and enhancing the spending efficiency. Additionally, the government’s ongoing efforts to utilize available fiscal resources to diversify the economic base through transformative spending were highlighted as instrumental in supporting the sustainable development of the Kingdom's non-oil economy and maintaining a strong fiscal position.
In its report, the agency noted that the planning and commitment underpin its projection of a relatively stable fiscal deficit, which could range between 2%-3% of gross domestic product (GDP).
Moody's expected that the non-oil private-sector GDP of Saudi Arabia will expand by 4-5% in the coming years, positioning it among the highest in the Gulf Cooperation Council (GCC) region, an indication of continued progress in the diversification efforts reducing the Kingdom’s exposure to oil market developments.
In recent years, the Kingdom achieved multiple credit rating upgrades from global rating agencies. These advancements reflect the Kingdom's ongoing efforts toward economic transformation, supported by structural reforms and the adoption of fiscal policies that promote financial sustainability, enhance financial planning efficiency, and reinforce the Kingdom's strong and resilient fiscal position.