Thanks to the size of its economy, Saudi Arabia is an important geopolitical player in the Middle East. It’s also Sweden’s largest export market in the region, and Swedish companies have been present in the area for more than 70 years. The Saudis are young and dynamic, with approximately 40 percent of the population younger than 35. Combined with the government’s infrastructure investments, this creates plenty of opportunities for Swedish companies to expand or enter the market.
Opportunities for Swedish companies
The largest sectors in Saudi Arabia that could be interesting for Swedish companies are energy, healthcare, manufacturing, telecom and transportation. There is a clear need for cross-sectoral expertise, due to the ongoing shift towards diversification and digitalisation of the economy. This creates opportunities within areas like cyber security, sustainable cities and sectors where Public Private Partnerships are the dominant business model.
Possible challenges
Despite the wide range of opportunities, the ongoing significant reforms can be challenging. Most prominently, companies face obstacles in understanding the regulatory frameworks and how to develop corporate strategies that grasp the full business potential on the market. Business Sweden can offer support and advice to face these challenges. We have more than 40 years of experience in supporting companies through export information, business promotion activities and tailor-made consulting assignments.
How we can help
The Business Sweden team in Riyadh monitors and facilitates business opportunities through the United Nations and the Islamic Development Bank. In addition to Saudi Arabia, our staff in Riyadh works with our office in the United Arab Emirates to cover the majority of markets in the Middle East.
