Onboarding

Overview

Welcome to the regions’ largest economy, Saudi Arabia, with its strong economic and human potential to provide opportunities for international businesses. The Kingdom is the largest, most stable economy in the region, home to one of the top-producing oil and mineral reserves, and to one of the youngest populations in the world. The country has recently opened up some of its untapped industries and resources for investment. Saudi Arabia has launched the Vision 2030 plan, aimed at enhancing its business environment and economic performance by establishing clear priorities, solid alignment among all relevant stakeholders, and serious commitments in leveraging private investments.

The Saudi government has launched a major privatization program aimed at unlocking state-owned assets and at increasing private investors’ participation. Most recently, localization of the value chain in major industries, involving both local and international parties, has become a building block of Saudi Arabia's Vision 2030. It offers huge opportunities to international investors. New trends like women driving, tourism transformation, and cultural expansion will augment the quality of life in the Kingdom, stimulating fresh market demand and growing the potential for local and international investment.
The challenges foreign companies usually face are the features of the Saudi and Arab language and regional, cultural differences. As one of the distinguishing factors, value-based culture often seems complicated for many international brands. International investors miss tremendous investment opportunities due to lack of understanding in networks and local market intelligence. New regulatory requirements to guarantee local content in the value chain make local alliances increasingly import.