KPMG Saudi Arabia establishes Research and Economic Studies unit in Riyadh

KPMG’s Saudi Arabian member firm KPMG Al Fozan & Partners has set up a new Research and Economic Studies centre. The move comes as a response to the Saudi Vision 2030 and aims to provide important insight into various aspects of the Saudi economy to help promote international investment.

The new unit will conduct research and publish general studies relating to the Saudi economy and also provide investors with in-depth analysis into specific sectors. The Research and Economic Studies centre will also provide advice to clients about the Saudi investment climate and indicators relevant to the Vision 3030 agenda and potential impacts on the economy.

Chief Economist at KPMG Saudi Arabia, Hussein Abusaaq, will take on the position as Head of the Research and Economic Studies unit. Abusaaq holds a PhD in Economics from the University of Florida as well as two Master’s Degrees in Financial Engineering and Financial Economics from the USA.

Last year, Abusaaq also spent time at Harvard Kennedy School studying public policy and executive leadership skills, and has also completed a BA in Information Systems Management with Honours from King Fahd University of Petroleum and Minerals.

Prior to joining KPMG, Abusaaq had served as an Economic Expert at the Ministry of Economy and Planning since 2016. He has also worked with the Saudi Arabian Monetary Agency (SAMA) between 2004 and 2015 in a number of positions, including most recently, as a senior economist.Abusaaq said; “The unit will provide valuable studies related to the investment climate and analysis of economic indicators. It shall also keep track of and examine economic changes and assess all new developments taking place at the local level, including plans, policies and trends related to the economic policy in the Kingdom.”

Abdullah Al-Fozan, chairman of KPMG MESA and KPMG Saudi Arabia, said in relation to the new unit; “Establishing this valuable unit coincides with the economic, investment, and development boom being witnessed by the Kingdom, in line with the Saudi Vision 2030 and its proposed programmes; which is set to make Saudi Arabia a key attractive destinations for investments in the region and the world.” 

New headquarters

KPMG Al Fozan & Partners is the Saudi Arabian arm of the global professional services and advisory firm which specialises in audit, tax and advisory. The firm established itself in the Kingdom in 1992 and has since grown to host over 1200 professionals in the country. As a result of this substantial growth, the firm recently signed an agreement to establish its new headquarters in the Business Front project in Riyadh. The new headquarters covers over 11000 m2 and will contribute to creating a unique work environment for KPMG Saudi Arabia’s employees and clients.

“KPMG in Saudi Arabia has established itself as a leading professional services firm in Audit, Tax and Advisory services using professionals with international expertise and a team of national talent who understand the nature and needs of the Saudi market,” said Khalil Al Sedais, Managing Partner of KPMG’s office in Riyadh. “The new headquarters will provide an unique work environment for our employees and provide a rich experience for our clients. The number of KPMG employees in Riyadh is currently around 800, and we aim to increase this number to 1,500 employees during the next five years.”