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  2. FPT lands its regional headquarters in Saudi Arabia

FPT lands its regional headquarters in Saudi Arabia

GHADA.ISMAIL
Oct 31, 2024
Vietnam's FPT to expand its footprint in Kingdom

Riyadh – Sharikat Mubasher: FPT, one of the largest information technology service companies in Vietnam, announced the inauguration of its regional headquarters in Riyadh, Saudi Arabia, as part of its global expansion strategy to meet the rising demand for digital services and solutions.

The inauguration ceremony was held within the framework of the Vietnamese Prime Minister's working visit to Saudi Arabia where he attended the 8th Future Investment Initiative (FII) Conference, according to the company’s press release.

This is the first Vietnamese enterprise authorized for regional operations in Saudi Arabia, the capital of the largest economy in the Gulf region.

Addressing the ceremony, the Prime Minister welcomed FPT's inauguration of the office in the Middle East, expressing gratitude to the Saudi Arabian agencies for their support and assistance for FPT.

Rimah Ghaddar, FPT Software Middle East Chief Executive Officer added: "Our new regional headquarters symbolizes our firm commitment to Saudi Arabia's journey to becoming the Middle East's leading technology hub. FPT remains steadfast with our commitment to enabling speed, agility, and scalability for our regional customers and promoting cross-border collaborations".

FPT's strategic focus on AI, integrated into all its services and solutions, aligns with Saudi Arabia's Vision 2030, which aims to diversify the economy, foster innovation, and enhance public services through technological advancements.

Since establishing its first office in the Middle East in 2020, FPT has rapidly expanded its footprint, experiencing significant growth with key clients across various sectors.

Leveraging its global expertise and technology, FPT is poised to drive transformative change and contribute to the Kingdom's and the region's ambitious development goals, while strengthening global partnerships and building strong regional collaborations.

 

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Strategic Gears, Rasmal to build investment corridor between Saudi Arabia, Asia
Riyadh - Sharikat Mubasher: Strategic Gears, a Riyadh-headquartered consulting company, signed a memorandum of understanding (MoU) with Qatar's first governed investment company, Rasmal Ventures, to build a two-way investment corridor between Saudi Arabia and Asia.In a statement released today, the Saudi company revealed that it will open access to the Kingdom for Rasmal and its portfolio companies, and Rasmal will do the same for Strategic Gears and its clients across its Asian networks and markets.Over the next months, both parties will define specific programs under the MoU, including introductions, joint market briefings, and co-hosted engagements, focusing on moving companies, capital, and expertise across the Saudi-Asia corridor in both directions.Nasser Alqahtani, managing partner at Strategic Gears, said: “Our clients increasingly ask us not only how to grow at home, but how to reach the markets that will define the next decade, and Asia is at the top of that list. Partnering with Rasmal gives us a genuine gateway into that region through a partner with networks across the region, and it brings Rasmal’s portfolio into Saudi Arabia at a moment when the Kingdom is opening to exactly this kind of high-growth company.”In turn, Soumaya Beya Dridje, partner at Rasmal Ventures, commented: “What this agreement does is connect the two through the people who operate in each. We open the door to Asia for Saudi companies ready to expand, and Strategic Gears helps the companies we back land in the Kingdom with a credible partner on the ground.”The MoU adds an international dimension to the expansion advice Strategic Gears gives to Saudi organizations. At the same time, it underscores Rasmal’s strategy to bridge Gulf capital with the innovation and growth emerging across MENA, Türkiye, and Asia.Saudi companies advised by Strategic Gears will gain a managed channel into Asian markets that are often difficult to enter without a trusted local investor already established there.
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