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.
Why Strategic Advice Services Are Essential
Saudi Arabia is a complex nation in transition from a post-oil economy to a transformed, revitalized market and society relying on enhanced productivity and diversification. Through the government initiatives National Transformation Program 2020 and Vision 2030, the Kingdom seeks to stimulate national development across every sector — creating more jobs, bettering social conditions, growing diversified business ventures and kickstarting the economy into an age of unprecedented prosperity.
When you're seeking business opportunities in Saudi Arabia, it's important not only to keep up with the nation's current industry goals and business priorities — which will all connect to its ambitious developmental plans— but also to develop a comprehensive understanding and adherence to the deep-rooted, deeply important cultural practices that shape its business sphere.
Doing business in Saudi Arabia is different than doing business anywhere else in the world. Unlike other countries that separate business dealings from local culture and religion, Saudi Arabia emphasizes respect, trust and awareness of local values, customs and cultural norms when conducting any business transactions — and no key decision-maker will work with you without first developing a strong, long-term relationship.
Going into an independent business venture in Saudi Arabia without the proper knowledge and background of appropriate culture, communication and context can be disastrous to your opportunities and your chances of ever doing business in the country. That's why you need strategic advice for conducting business in Saudi Arabia — with the backing of an advising company with a strong presence in the nation, you won't need to worry about jeopardizing your potential prosperity and losing valuable opportunities.
Instead, you can focus on developing trusting relationships, delving into Saudi Arabian culture and gaining access to the assets and primary figures that will advance your organization in the right direction. That's what The Quincy Group can assist you with. We help business leaders and companies progress across a wide variety of industries, including:
- Power and energy
- Tourism, sports, and entertainment
- Defense and security
- Financial services
- Telecommunications and information technology
- Mining, minerals, and petrochemicals
- Consumer goods
- Transportation and infrastructure
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.