- How does it benefit local companies to be exposed to international brands at The Big 5 Saudi?
Usually it is difficult for local companies to reach international brands due to budgetary limitations in their marketing and business development departments to invest in market analysis, due diligence of international companies and attendance to events located out of KSA. Their presence at events as Big 5 Saudi is an easy and financially viable solution to expose themselves to the international market.
- And how would international companies coming to KSA benefit from the same?
For international companies it is usually difficult to find the adequate local partners and to do a proper assessment about the capabilities of a local company in KSA because the available public information is very limited, very often not updated and therefore not accurate. The chance to meet these local companies during an event as Big 5 allow them direct face to face meeting and give them confidence about the seriousness and professionalism of the potential local partner.
- How does this type of partnership affect the wider market?
Saudi market is currently needing these partnerships because the projects in the pipeline require international know-how and financial resources (specially the PPP projects). At the same time, the strategy of the Kingdom to promote the local employment implies the necessity of the local companies to be involved in these projects as local manufacturers and/or local contractors.
- Is this type of partnership popular/successful in other parts of the world?
This type of partnership is very common and successful in many parts of the world specially in countries with big potential to build large projects but at the same time with firm intention to promote its local businesses and citizens (South America, South Africa, UAE, etc.). Even in Saudi Arabia these partnerships have been implemented many times although they have not been always successful.
- Any further comments?
International partnerships are a must right now in Saudi Arabia more than ever before and events as Big 5 are the perfect scenario to promote such partnerships.
TO ATTEND MY SESSION, REGISTER FOR FREE AT THE VENUE