RED SEA GLOBAL
Sometimes , he says , RSG meets suppliers who are not quite the right fit for its own projects but might be ideal for other gigaproject developers .
“ We have a good network of contacts with our colleagues in the other giga projects , and we share information for mutual benefit ,” says Edwards .
Many of the overseas companies RSG draws into its burgeoning supply chain will establish an on-the-ground presence in the Kingdom – a process that poses logistical challenges , but far fewer than was the case in the past , says Edwards .
“ It ’ s much easier than it used to be ,” he says . “ Back in 2012 it was really quite painful as an overseas registered company to set up in the Kingdom but it ’ s been vastly simplified .”
He adds : “ The Ministry of Investment has a dedicated team to help international companies get registrations sorted out . The
system is now all online and is much easier .
“ The Kingdom is also actively engaged in encouraging companies to form companies and to participate in projects . There are also various incentive programmes led by the PIF . For example , there ’ s one that is designed to encourage investment and development in the Kingdom ’ s manufacturing capability .”
The overwhelming message , Edwards points out , is that ‘ Saudi is open for business ’.
Joint ventures helping to boost Saudi supply chains Not all companies look to set up a Saudi operation . Some choose what Edwards dubs a “ softer entry into the market ”, by forming a joint venture ( JV ).
This , he says , is particularly true of construction : “ JVs are seen as an easier way to bring in expertise from overseas to collaborate and partner with a local
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