Understanding the local business
Saudi Arabia is moving rapidly into the 21st century. New leadership is getting ready for power and has initiated initiatives to transform the country towards less dependency on oil and gas.
New projects are announced or are currently under execution in a variety of market segments. The next 10 years to come will be an exciting time for Saudi Arabia and interesting for those that will work in line with the Vision 2030 and are willing to make a serious interest in the country.
The Government’s desire to diversify the economy puts considerable pressure on the private sector industries. Companies need to comply with recruiting a minimum number of Saudi nationals, and some job positions can only be held by Saudis.
This means that management attention must be focused on complying with ever-changing regulations. At the same time, the Saudi Government administration is time-consuming and the result is that doing business in the country is ranked at 91 by the World Bank (2017: Ease of Doing Business).
Traditionally the Oil & Gas, Petrochemical, Power & Water have been the focus for our activities. Nowadays we see a strong development into the mining and maritime (on – and offshore). We are actively looking for new partnerships in these new upcoming market sectors, especially where local presence is crucial for performing timely services on high capital equipments.