List of all articles filed under “saudi-arabia-interviews” category.
Jamjoom Medicine was established more than 55 years ago. It has been one of the major players in the healthcare industry. Jamjoom Medicine was the first member of the Jamjoom Pharmaceutical Group. Our strategy to preserve and improve the market leadership has always been built around establishing a successful partnership with our suppliers, through mutual business respect, understanding and a focus on customers’ needs.
Itqan Capital is a Sharia Compliant company focusing on four main lines of business, Asset Management, Principal Investment, Investment Banking and Custodial Services.
The group has in total some 6 or 7 thousand employees. We have a yearly consolidated turnover from all of the group companies in the order of 3.5 to 4 billion riyals. Due to the nature of our equipment, we have a very significant fixed asset base because in our marine business we are running more than a hundred marine construction vessels.
Doing business in Saudi Arabia has become more regulated. That is one of the reasons why have such split views. The role of SAGIA, the investment authority, has become more active. They are supervising the investors, checking whether the investors with license are really active or not.
The capacity of our economy to absorb more Saudi talents is real, but we cannot only rely on the government, the private sector has a crucial role to play here. Until now, there has been a general belief that only the government is responsible for employment and job creation. But I believe that the government and the private sector are equally responsible.
The power sector is growing rapidly, at the rate of 7.5% per annum, which is not easy to manage. Today, any power plant, that is just developing, will require 2 to 5 years for it to be ready for production. 50% of the population today is under the age of 20.
The Saudi lubricant market represents 420 thousand metric tonnes. The emerging markets now consist of the Middle Eastern markets and the African markets. These are set to increase by 3.2% per year for the next 5 years or until at least 2019 according to the latest studies.
Fawaz Hajjar is General Manager of Al Hayat Building Materials Company, a leading supplier of sanitary ware, faucets, water heaters and more. With 15,000 items, the company is one of the largest building material distributors in the kingdom.
IHCC is a turnkey solutions provider that specializes in healthcare, education, and mixed-use projects,. IHCC shapes contemporary and sustainable communities through providing affordable and quality design and build turnkey solutions in healthcare, education and mixed-use projects. A turnkey solutions provider, IHCC’s services include everything from conception to completion including comprehensive feasibility studies, architectural design, MEP engineering, financing, construction, equipping, furnishing, staffing, as well as facilities management and renovation services.
How easy is it to do business in Saudi Arabia? Basically, once you get the knack, you are in it for life. It is always difficult at start. I wouldn’t recommend somebody to jump into starting business immediately. I am talking about foreigners. Of course, if you are a local, you already know your way around. It is a very competitive, open business environment, provided you have all the requirements of any business anywhere in the world – the right offer, the right price, the right quality. That’s the same anywhere else.
