Business

160 French Companies Establish Businesses in Saudi Arabia

The strategic move by 160 French companies to set up in Saudi Arabia marks a significant boost in economic relations between the two nations. Axel Baroux, the visionary behind Business France, shared insights with “Al-Eqtisadiah.” He spotlighted the creation of over 13,500 jobs due to this venture. These firms are not just setting up shop; they are contemplating making the Kingdom their new headquarters.

Meeting of Minds in Neom

In an ambitious move, 110 French corporations are gearing up for discussions in Neom. Their agenda will be to delve into the job market and seize mutual benefits. This gathering is a testament to the burgeoning interest of French entities in the Saudi landscape.

Kingdom’s Industrial Promise

Baroux, during a Riyadh seminar, shed light on Saudi Arabia’s allure for French investments. Additionally, the Kingdom is now a beacon for opportunities, particularly in sectors like industrial manufacturing and aviation maintenance. This aligns with Saudi’s vision to diversify and enrich its economic fabric.

Dedian’s Forward-Looking Strategy

Antoine Ghusn, at the helm of Dedian’s services, unveiled plans to kickstart aviation equipment maintenance by 2029. Furthermore, the discussion about relocating Dedian’s headquarters to Saudi Arabia speaks volumes about their long-term commitment.

Win-Win for Employment and Growth

The French corporate wave into Saudi Arabia is a boon for job seekers and the economy alike. It’s a blend of strategic foresight and mutual interests, fostering a vibrant business ecosystem. This move is poised to fortify Franco-Saudi ties, promising a future of collaborative prosperity.

Cultivating Global Business Hub

Saudi Arabia’s welcoming stance towards foreign investments, coupled with its vision for industrial expansion, is setting the stage for global businesses to flourish. The focus on sectors like aviation maintenance showcases the Kingdom’s ambition to become a global hub for high-tech industries.

In conclusion, the influx of French businesses into Saudi Arabia is a landmark development in bilateral relations. It’s a narrative of job creation, economic growth, and shared ambitions. As these companies explore new horizons, they contribute to the Kingdom’s vision of becoming a diversified and dynamic economy. This partnership not only enhances Franco-Saudi relations but also paves the way for a future of innovation and mutual growth.

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