GCC companies enter Saudi Arabia to tap US$3 trillion business opportunities being created by foreign investment
Businesses expanding into Saudi Arabia could bag large chunk of the business deals that are being offered to suppliers who are entering the market. Saudi Arabia needs a large pool of resources to manage the growth
Dubai, UAE, February 6, 2024
News Highlights
As many as 88,858 new business licenses were issued by Saudi Government authorities in the first quarter of 2023, while more than 40,000 new companies were added to this in the third quarter;
The total number of small and medium enterprises (SMEs) exceeded 1.27 million in the third quarter of 2023;
Saudi Arabian Government seeks to attract US$3 trillion in foreign investment to promote economic development, transfer foreign expertise and technology to Saudi Arabia;
Saudi National Investment Strategy aims to raise net foreign direct investment flows to $103 billion annually and increase domestic investment to about $450 billion annually by 2030.
Aziz Ali, Chief Executive Officer of Evergreen Businessmen Services
Companies in the GCC countries are expanding in Saudi Arabia to tap the massive opportunities being created by US$3 trillion worth of foreign investment entering the Kingdom as part of the Saudi Vision 2030, by either setting up a totally new business license or opening up a branch, as the country undergoes massive development works.
Bridgestone to support fleet managers and improve efficiency with launch of Webfleet in UAE
February 06, 2024: Bridgestone, a global leader in tyres and sustainable mobility solutions, launched its globally trusted fleet management solution ‘Webfleet’ in collaboration with its exclusive partners, Al Masaood Tyres, Batteries and Accessories (TBA) Division, part of Al Masaood Group and Nasser Bin Abdullatif Alserkal in the UAE. The official launch underlined the organisation’s thrive to advance innovative technologies in sustainable mobility and optimise fleet operations.
Over 60,000 customers worldwide count on Bridgestone’s reliable Webfleet fleet management solution to boost productivity, support drivers, increase safety, maintain compliance, and operate more sustainably. The launch of Webfleet in the UAE will pave the way for a more sustainable future through data-driven mobility solutions, aligning seamlessly with the company’s E8 Commitment.
THE 2ND ANNUAL FINANCIAL RESTRUCTURING MENA CONFERENCE SET TO TAKE PLACE AT ADGM IN FEBRUARY 2024
Focus will be to discuss strategies for effectively addressing corporate insolvencies in the region
Exclusive insights from ongoing billion-dollar restructuring cases and global best practices in NPL offloading and corporate restructuring as GCC banks are reportedly sitting on USD 50bn of NPLs.
Event to host 50 expert speakers and 300+ delegates from 15+ countries
Abu Dhabi, UAE: Abu Dhabi Global Market (ADGM) is set to host the 2nd Annual Financial Restructuring MENA Conference from February 19-20, 2024, at the ADGM building, Abu Dhabi, bringing together globally renowned restructuring practitioners to discuss strategies for effectively addressing corporate insolvencies in the region, resulting from the continued spike in interest rates and inflation. Worldwide, 15% of the corporate bonds and loans trading at distressed levels, currently in excess of USD 590 bn, have defaulted highlighting grave impacts for the global economy.
سيتي للتطوير العقاري تكشف النقاب عن مركز التجارب المبتكر لاستعراض مشروع “أفيلاين ريزيدنسز”
مركز التجارب يوفر العديد من الأنشطة والفعاليات، مثل تجارب معاينة المشروع في الواقع الافتراضي واستعراض الشقق النموذجية وجلسات الاستشارات الفردية والعروض التقديمية التفاعلية
دبي، الإمارات العربية المتحدة، فبراير 2024 – أعلنت شركة سيتي للتطوير العقاري، الشركة الرائدة عالمياً في مجال التطوير العقاري والتي تتمتع بإرث عريق من الموثوقية والجودة يمتد لأكثر من عقد من الزمن، عن إطلاقها مركز تجارب عصري لعرض مشروعها الريادي “أفيلاين ريزيدنسز”، والذي ستنفذه في قلب قرية جميرا الدائرية.
وفي حين يتربّع مشروع أفيلاين ريزيدنسز في قلب المشهد العقاري البديع، فإن تركيز سيتي للتطوير العقاري يتخطى حدود المشروع إلى تضمين رؤيتها الكاملة فيه. وسيمنح مركز التجارب زواره فرصة معاينة المشروع في الواقع الافتراضي واستعراض الشقق النموذجية وجلسات الاستشارات الفردية والعروض التقديمية التفاعلية.
UAE News 24/7 