Saudi Arabia vs Dubai Could Be the Gulf's Next Big Rivalry - Bloomberg:
Ronny Froehlich’s voice echoed across the empty rooms as he walked through his company’s new office in Riyadh.
The German entrepreneur had just set up the internet, but he was already imagining the space as the bustling future headquarters of Golden Scent, a Dubai-based e-commerce firm he co-founded with a Saudi friend five years ago. The next step is to move employees from Dubai and hire more in the Saudi capital.
“If you want to be big in the Middle East, you need to be in Saudi—full stop,” he said. “Maybe in six months we’ll stand here and it’s full.”
The growing number of startups in Riyadh reflects an undeclared competition between two Gulf allies that’s set to intensify this year, realigning the economics of a region striving to reduce its reliance on oil.
No comments:
Post a Comment