Zaid has extensive experience in Saudi Arabia entrepreneurship, SME’s and corporate entry into the Saudi Arabian market. Here, he looks at the reasons to expand into Saudi Arabia, the opportunities available and gives his tips on sourcing a partner for your growth into the Kingdom.
Saudi Arabia is the largest economy in the Gulf region, it has a stable currency pegged to the US dollar which has seen no major changes to its exchange value in the last few decades and a stable government. Its has also made strong moves to diversify the economy away from oil with the announcement of Vision 2030 in 2016 and is becoming increasingly welcoming to foreign investment. There have been many opportunities coming from increasing government spending in infrastructure, housing, healthcare and education.
Key reasons for investing in Saudi Arabia include:
There have been announcements on major projects in;
For companies ready to invest in Saudi Arabia, there are large numbers of opportunities already available with an increase in project announcements leading up to 2030.
Entering into the Saudi Arabia market can be a confusing and timely project if you don’t have the right support from the outset. When you are selecting a company that will support you in your transition to Saudi, there are a few key elements that any partner should provide.