Risk Mitigation: Minimize the Risks of Doing Business in Saudi Arabia
As a rapidly developing nation reaching towards a new period of socioeconomic changes, Saudi Arabia is a market in the midst of a transformative transition into a productivity-based future.
The nation has plans in place to redefine its economy, stimulate growth, improve both social and economic conditions and develop each business sector through the initiatives National Transformation Program 2020 and Vision 2030 — which lay out strategic objectives and key performance indicators to achieve by the designated year. Saudi Arabia's ambitious program includes plans for stimulation and improvement in productivity, employment, education, energy, entertainment and every aspect of its local industries and social spheres.
In the changing atmosphere and economy, U.S. companies doing business in Saudi Arabia must make a tangible impact and make meaningful connections for improved future business. In such a complex nation, where government and culture play a large role in business dealings and where building essential relationships is a very specific process, Saudi Arabian business ventures represent real potential for success— but they also carry risks.
As a seasoned advisory firm well-versed in Saudi Arabian government, customs and business development, The Quincy Group will help you minimize the risks of doing business in Saudi Arabia, build your rapport with decision-makers and succeed in expanding your influence and bettering your footing in this region.
Why Risk Mitigation Services Are Essential to Succeeding in Business in Saudi Arabia
When you choose the expert services and advice of The Quincy Group for risk mitigation assistance in your business in the Kingdom, your company gains the experience, expertise and support of our 50 years of in-depth history in the nation's market and culture. Building connections, identifying, planning for, and mitigating difficulties in the Saudi business world can be difficult on your own — even when you're already working in the region — but The Quincy Group both protects and advances your interests by:
- "Lending" you our own expertise and good reputation in business dealings to build trust with decision-makers and further your interests.
- Helping you better your footing in the market with a better understanding of its context, culture and customs.
- Offering you anti-bribery and corruption compliance assistance in Saudia Arabia.
- Keeping up with relevant policies and potential dangers to protect you from conflict.
- Making sure your business goals are on track and aligned with Saudi Arabia's Vision 2030 initiatives.
- Developing a personalized approach to protecting your interests, minimizing risk and forwarding your business goals.
Prepare for the Unexpected
Smart companies are proactive in identifying and mitigating all threats to profitable business. Saudi Arabia is a country with great opportunities for those companies. Having good business intelligence about the landscape is key to managing risks. Quincy’s geocentric focus on this one region helps our clients. We know this country inside and out.
Due Diligence of Current or Prospective Local Partners
We work with clients to mitigate risk by doing the proper due diligence on all in-country partners so that we are all protected from corruption.
Compliance With Anti-Bribery and Corruption (ABC) Laws
We have been operating in the defense and security sector in the Middle East for nearly thirty years. As such, we have an almost innate ability to detect problems before they are apparent. This is an area where an experienced guide can provide significant value.
We support vigilant compliance with Foreign Corrupt Practices Act (FCPA); UK Anti-Bribery Act (UKAB), and other ABC laws including the Saudi Arabian Combating Bribery Law (CBL).
- Quincy can assist and support your regulatory work in export controls such as: Committee on Foreign Investment in the United States (CFIUS);
- International Traffic in Arms Regulations (ITAR); and
- Export Administration Regulations (EAR);
Winning a contract is only the beginning. You must manage the vital relationship with your customer in a smart manner. Execution after victory is crucial.
- negotiating Letters of Credit (LC) and ensuring predictable payments schedules;
- negotiating mobilization payments;
- preventing mission creep;
- negotiating change orders;
- getting interim payments in a timely fashion;
- securing the final holdback “performance contingent” payments at the conclusion of the contract.
How the Quincy Group Delivers Superior Risk Mitigation Assistance in Saudi Arabia
When you pursue new business presence in a complex foreign market, risk mitigation assistance is one of the most valuable assets you can have. With extensive expertise, in-depth knowledge, strong business relationships and 50 years of experience forwarding companies like yours in the Saudi Arabian sphere, The Quincy Group will both protect your interests and help your business endeavors bloom. Trust our assets, access, experience and advice for superior risk mitigation in Saudi Arabia.