AMTORG has already created partnerships in the region with several influential entities and entered into contracts that will benefit many of our current partners and clients.
The region is ripe for picking, and it’s ready for international businesses to come in and make their marketplace more competitive.
We don’t choose to expand because we believe it’ll hurt us – we expand because we believe it’ll help us and our clients. I’ve said it before, and I’ll repeat it – these are called “potentialities,” because there is always a potential for success in international business expansion. – Boris Grif, Founder & CEO of AMTORG
The governments of Middle East countries have gone so far to develop “clear foreign ownership laws, robust regulation, increased access to funding, and a world- class education system in line with the skills required in a fast-changing world.”
Traditionally, foreign ownership laws within the Middle East have not precisely been investor-friendly. They’ve been quite strict, essentially leaving interested businesses and investors out of the equation entirely. However, there has been a concerted effort more recently to loosen up the rules and allow international businesses and investors to tap into these new markets.
The UAE has recently announced plans to lift its 49% ownership restriction for foreign owners in certain industries, allowing foreign investors to own 100% of companies. This is also matched by Saudi Arabia, where restrictions are being lifted in many industries, and the Vision 2030 agenda is proactively opening up the economy to foreign investments.
The time to invest in the Middle East and to implement international expansion strategy has never been better. There is plenty of opportunities here, and it the best interest of our business to take them for us, our partners and clients.
For sure, there are challenges, since it’s new and not well know market. The Middle East does have a culture gap because each country within the region is different. And not only that, but Middle Eastern culture is tremendously different from Western culture, and that’s something that we take into account as well. We found the solution – partnership with the local professionals. Our team knows how to operate locally and understand Western business practices.
As always, AMTORG will do it’s best to bring the best opportunities to our existing and new clients.