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OVERVIEW
If Saudi Arabia market is on your business expansion radar and entering KSA market as part of your global expansion strategy, you need a research & consulting firm which has deep roots and has a solid understanding of the Saudi market as the KSA market is complex for local companies and too complex for international companies.
As there are a number of factors which will influence your Saudi entry strategy, GMI Research with its deep understanding of the market can help to formulate a Saudi entry strategy and support you in every step from identifying the total addressable market size, valuable insights on competition, to figure out the right entry strategy whether to enter into limited liability partnerships/joint venture, to set up a greenfield plant or to enter via other strategies and to identifying and set up a distribution network.
Entering Saudi Arabia by setting up a greenfield manufacturing plant has its own share of challenges such as too many regulations, confusing land laws, uncertainty in raw material supply, labor issues, lack of intellectual property rights and others. Government regulations along with market complication, requires the help of India entry strategy consultants. GMI Research having decades of Saudi market knowledge coupled with its expertise in analyzing the potential market opportunity, strategy execution, and deal structuring should be your preferred partner of choice for India entry strategy implementation.
A successful approach to Saudi Arabia market expansion goes beyond assessing standard business factors, such as market size, growth, market intelligence and competitive landscape. However, it should also cover in-depth understanding of the market in light of reason behind expanding into KSA market.
With our rich Saudi market knowledge owing to our exposure and experience tracking and helping our clients on Saudi Arabia market for decades, we provide hands-on, practical support to International companies planning to expand and to start operation into KSA market. GMI Research helps our clients in formulating hands-on business model to develop the most effective KSA market entry strategy covering all the required aspect from Market, Business & Competitive Intelligence, and research, due diligence of a prospect partner and so on.
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Why Saudi Arabia?
Saudi Arabia is the largest economy in the Middle East, the economy grew one of the world’s fastest-growing economies in 2022 owing to comprehensive pro-business reforms, rise in oil prices and production recovery from a Covid-19 pandemic induced recession in 2020. As per IMF the GDP grew at a whopping 8.3% in 2022 due to higher crude oil price which reaches over USD 100 per barrel and surge in non-oil activities. Government budget surplus owing to higher oil prices has boosted government revenues eventually increasing reserves which government is using for massive development projects to transform Saudi economy from oil based to non-oil based.
The government is developing private sector to transform and diversify economy from oil-based economy to non-oil based in order to have a more sustainable economy growth under the Vision 2030. Under the vision 2030 the government has successfully implemented many initiatives and structural reform to push this economic transformation. Under this transformation the government put efforts to enhance local content, to develop local industries, and increasing the role for private sectors.
Public Investment Fund (PIF) a Saudi Arabian government investment arm has launched its strategy for the next five years, the plan is to work on multiple goals but one of the major goal is to Inject around 150 billion SAR annually into the local economy and local companies until 2025, with an aim to increase its assets to 4 trillion SAR and create 1.8 million jobs, directly and indirectly, and focus on 13 vital and strategic sectors by the end of 2025. Under Vision 2030 the government has been assisting financing for small and medium businesses and creating bold capital funds for companies who wants to launch or enter into Saudi market.
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