Roadmap for Results
Saudi Arabia is a challenging market, with unique cultural, economic and government conditions. But once you have gained trust here, it is a market where you can achieve results and grow your business for many years.
However, this has always been a complex place in which to conduct business. Today it is made more so by virtue of the fact that the government is undergoing a massive transformation process that includes reforming a wide range of government subsidies, reordering the labor market to greatly reduce the expatriate workforce, and initiating a wide variety of efforts to diversify the economy away from hydrocarbons.
Strategy Matters in This Market
At The Quincy Group, we advise our clients to think more like a partner and embrace the long-term priorities of the Kingdom, rather than simply as a vendor content to bid on a series of tenders. We understand Saudi national priorities, whether as reflected in Vision 2030, Saudization policies, or ministerial objectives and budgets.
We help our clients build effective growth strategies in Saudi Arabia by contextualizing their brand equities for this market. We begin by gaining a deep understanding of your core competencies and unique value propositions. We then gather the market and competitive intelligence needed to determine the nature and scale of the addressable market.
This is followed by mapping the relevant stakeholders and regulatory challenges, creating compelling narratives and delivering them to actual decision makers and those to whom they turn for advice. Since the local economy is dominated by government procurement and government companies, a well-thought-out government relations plan is critical to success in the Kingdom.
In addition to an effective government relations campaign, Quincy will also work with you to create plans to mitigate a wide variety of risks. Your country strategy may include the need to form a joint venture or register as a wholly owned company in Saudi Arabia. We have extensive experience with using either of these structures as sales channels and we understand the many benefits and pitfalls of both.
You may have offset obligations or you may be facing other production localization requirements that will require a significant local investment. All of these come with particular risks, many of which we have seen before.
How to Be Successful in Saudi Arabia
Ultimately, success in this market requires a persistent presence in the country. There are high barriers to entry but the long-term returns once those barriers are overcome can be quite rewarding indeed.
Quincy can help you make your case to the right people at the right time.
We have decades of experience in this region where trust is the critical currency. Quincy’s deep resources in business, government, policy, finance, and diplomacy combine to achieve optimal results for our clients. We execute innovative, dynamic campaigns that deliver results.