Exporting to Saudi Arabia

KSA. Kingdom of Saudi Arabia

Opportunities for Spanish companies in Saudi Arabia

Strong points

  • The centre of Islamic culture and main Middle East market for population and GDP thanks to its enormous oil reserves.
  • Important industrialisation stage.
  • The Government is promoting an investment environment favourable for foreign capital.
  • It is in the process of developing infrastructures.
  • Great opportunities for large corporations, SMEs, private investors, management, traders and salary-earning employees.
  • Favourable climate for business with Spain.

Weaknesses

  • There are no customs-free areas.
  • Political crisis in some neighbouring countries.
  • The different royal families play a major role in business.
  • Excessive bureaucracy in administrative formalities.
  • For imported products, it is compulsory to use English and Arabic on labels.

Investments

There are many sectors with great opportunities. Spanish companies can access this market through franchises, direct investment, participation in privatisations or along with a local partner, the latter being of key importance for reaching the Administration and for facilitating contact with Saudi companies and the royal family.

 

Prospects

  • Roughly half of its GDP comes from energy businesses controlled by the government, and representing over 90% of exports.
  • Exchange rate control has been eliminated over the last few years.

 

Find us at

United Arab Emirates

Hassanicor Bldg. Office 104, Al Barsha 1 st, PO Box 54171
Sheikh Zayed Rd, Dubai (UAE)
Tel. +971 (0) 43 996 860 / 6185

 

Contact

Banco Sabadell in the Middle East

Experience

Banco Sabadell has a branch in Dubai, the main financial and service city in the United Arab Emirates..

We have great knowledge of the region, through being the first Spanish bank to become established in the Persian Gulf zone. Banco Sabadell has correspondent relations with most of the financial institutions in each country, as it has been working in the zone for over two decades, first in Beirut and now in Dubai. It also has extensive business lines with local banks to facilitate Spanish companies’ foreign trade operations.

Services

  • Introducing Spanish companies to the market and local banks. Advice on a wide range of financial products: – documentary credits, documentary remittances, collateral and guarantees, international reverse factoring, risk hedging.
  • Support for projects and investments.
  • Ongoing contact with Spanish companies, local companies, agents or their customers.
  • Monitoring transactions