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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Riyadh - Sharikat Mubasher: The Saudi Exports Development Authority (Saudi Exports) signed several memoranda of understanding (MoUs) with local and international partners during the Made in Saudi Expo 2025.This included an MoU with the National Industrial Development and Logistics Program (NDLP) to foster entrepreneurs and support the tracks of the 1K Mile Program. Both sides will collaborate to promote national products and provide enablers that strengthen the sustainability of entrepreneurial opportunities and enhance their access to priority markets.The authority also announced its strategic partnership with Alibaba to support Saudi-made products and enhance their presence in digital marketplaces, and foster national companies that seek to expand globally.Another MoU was signed between the Saudi Exports and Merak Capital to promote collaboration in supporting national enterprises and empowering them to benefit from available investment opportunities. The MoU is expected to enhance the local content and expand the reach of local services and products in the markets.Further, the Saudi Exports and Jahez inked an MoU to promote national products across e-commerce platforms and expand their reach in regional and international markets.The authority signed another MoU with Wa’ed Ventures, the $500 million venture capital fund backed by Aramco, to expand areas of collaboration across a number of relevant aspects. Moreover, Saudi Exports and noon inked an MoU to promote national products through Mahali, an initiative launched by noon to help local micro-enterprises and micro-entrepreneurs grow their business online by offering them access to millions of customers, the support of the largest logistics team in the region, and a world-class team to assist them throughout their selling experience.The Made in Saudi Expo 2025 takes place in Riyadh from 15 to 17 December, connecting manufacturers with investors, buyers, and strategic partners worldwide. Being the leading platform propelling national industries to global competitiveness, Made in Saudi Expo 2025 aims to showcase innovative Saudi products and technologies and expand export opportunities.

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JLL acquires minority stake in PIF-owned FMTECH

Riyadh – Sharikat Mubasher: Saudi Arabia’s Public Investment Fund (PIF) and global real estate services firm JLL announced that JLL will acquire a significant minority stake in Saudi Facility Management Company (FMTECH), while PIF will retain a majority holding.According to an official joint press release, the transaction remains subject to customary closing conditions.Following the transaction, FMTECH is expected to benefit from JLL’s global operating expertise, digital facilities management platforms, and international network, supporting service quality, operational efficiency, and transparency across its delivery model. The move is also intended to accelerate knowledge transfer and the localization of advanced technologies within the Saudi facilities management sector.Established by PIF in 2023, FMTECH operates as a national integrated facilities management platform, serving PIF portfolio companies alongside public and private sector clients across the Kingdom. The investment is set to deepen JLL’s presence in Saudi Arabia and builds on its existing partnership with PIF.Saad Alkroud, Head of Local Real Estate Investment at PIF, highlighted that the deal aligns with PIF’s real estate strategy and its broader mandate to drive economic diversification and urban development.Meanwhile, Neil Murray, CEO of Real Estate Management Services at JLL, noted that the partnership combines global operational capabilities with strong local market insight to meet growing demand in Saudi Arabia’s expanding real estate and infrastructure landscape.

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FPT lands its regional headquarters in Saudi Arabia

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