For UAE and GCC business houses all roads are currently leading to Saudi Arabia as they bid to pursue the many untapped opportunities in the Gulf’s largest economy. It is a process that will speed up further with the gradual easing up of licensing requirements and the kingdom’s stated intention to bring in more overseas investments.
This means GCC businesses will not feel under pressure to go in with a Saudi partner if they decide that is not the best option.
“Saudi authorities have been emphasising that a GCC-owned venture will be treated on par with a local company and that’s an ideal situation for a regional business,” said Peter Walichnowski, CEO at Majid Al Futtaim (MAF) Properties, who developed Mall of the Emirates and has a wide regional footprint. So far the company has not made an entry into Saudi Arabia, though that could change in the near term, the CEO added.
No comments:
Post a Comment