Sovereign AEI, the trusted experts in foreign direct investment and leaders of commercial success in Saudi Arabia, has reported a 50% increase in the Kingdom’s commercial activity. Sovereign AEI is a strategic partnership between two corporate service provider powerhouses. As a well-established and complementary partnership between the UAE and KSA, the two businesses came together to provide a unique and reputable platform aligned with international standards, enabling foreign companies to succeed in the Saudi marketplace.
The portfolio of services provided by Sovereign AEI enables clients to enter, establish and expand in the often-challenging business environment of Saudi Arabia. The opportunities of Vision 2030 for regional and global businesses are endless and unprecedented in respect of global business development. From market entry advice and entity registration to recruitment and local outsourcing, Sovereign AEI’s professional services are designed to help mitigate risk, expedite establishment, and accelerate success in the Kingdom. This exceptional partnership builds on Sovereign’s 20 years presence in the Middle East and AEI’s track record of success in Saudi since 2012.
Since establishing the strategic partnership in 2019, Sovereign AEI has reported solid performances in its operations, enabling over 600 business visits to Saudi Arabian 2019alone. Of these, 50%were first time visitors and over 70% went on to achieve success in the Kingdom. AEI alone has enabled over 1,500 foreign businesses to enter, establish or expand in Saudi Arabia since the company commenced operations in 2012.
Sovereign AEI registered a 300% increase in corporate services in Saudi throughout 2020. The outlook for the coming year remains promising, with an expected uptick of 50% in MISA registrations, compared to pre-pandemic levels. In addition to this, the team is forecasting a 50% increase in HR and immigration services.
Despite the challenges of 2020, Sovereign AEI recorded a 300% increase in corporate services sales
Sovereign AEI operates to the highest international standards of regulatory compliance and service clients with the integrity and professional standards expected.
The strong performance and promising outlook also come in the context of positive market forecasts for the Saudi economy, which is set to return to positive growth in 2021. As per the latest report from global rating agency S&P, higher oil prices caused by rising demand and wider availability of vaccines worldwide will support the Kingdom’s real GDP growth, which is forecast at around 2.3 per cent between 2021 and 2024.
Commenting on the partnership and the Saudi market, Paul Arnold, Managing Director of Sovereign Saudi Arabia, said: “As a global business, we were receiving an increasing number of enquiries from new and existing clients about how to successfully establish and operate a business in Saudi Arabia. Thanks to AEI’s capability and strong local knowledge, we are now able to complement Sovereign’s expertise in handling cross-border corporate and commercial matters.
“The Saudi market presents tremendous opportunities. Most companies are now aware of the market’s potential, the main pillars of Vision 2030 and the significant number of economic reforms carried out over the past 18 months. However, plotting a road map to success can be a challenge. Our principles are to educate, de-risk and enable the client’s ability to enter, establish or expand in the Kingdom. Our robust performance in Q1 is a testament to the attractive nature of the Saudi market, and we continue to see a growing interest and increasing shift of client focus towards KSA, as the country continues to unveil new strategic initiatives.”
Expecting a 50% increase of MISA (Ministry of Investment of Saudi Arabia) registrations, compared to pre-pandemic levels
Stuart D’Souza, Co-Founder and CEO of Arabian Enterprise Incubators (AEI), adds: “The Sovereign AEI partnership is perfectly aligned with Vision 2030, representing a unique combination of local and international expertise to enable clients to capitalize on the unparalleled opportunities in the Kingdom.
“It is easy to spot the many opportunities in Saudi. But the market remains challenging, often opaque, and always shifting from a regulatory, compliance and process perspective. Seeking informed and credible local knowledge with transparent advice is crucial to achieving success. As the world begins to emerge from the pandemic, the future looks bright and together with Sovereign, we will continue to fly the flag for the Saudi market place internationally and connect the Kingdom to the world.”