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Over the course of many years, Saudi Arabia has actively engaged in global business activities, primarily through its significant exports of a natural resource, which serves as a major source of revenue, making up an impressive 90% of the state’s income. Nevertheless, there is a noticeable change taking place as the country strives to broaden its economic base, welcoming foreign investments and exploring new opportunities across its vast territory.
Apart from the dominant natural resource sector, Saudi Arabia is also experiencing growth in various industries such as chemicals derived from petroleum, energy, telecommunications, healthcare, and even tourism. The diversification has revitalized the country, attracting international enterprises and infusing the dynamic business environment with renewed vigour.
Moreover, there is a flourishing entrepreneurial spirit within Saudi Arabia, as the government actively supports the development of small and medium-sized businesses. The ambitious Saudi Vision 2030 plan further enhances the country’s integration into the global economic system.
Consequently, there is a notable increase in foreign investments in non-traditional economic sectors. Additionally, the government’s firm commitment to combating corruption is evident through high-profile campaigns targeting members of the royal family, government ministers, and prominent business figures. These efforts have resulted in the recovery of an astonishing $106 billion worth of assets.
The prevailing business culture in the nation embraces an atmosphere of openness, offering promising opportunities for individuals interested in business setup in Saudi Arabia.
To provide you with an overview of the current foreign business landscape in the nation, we have meticulously compiled an extensive list of successful companies based in the United States and their respective sectors that are flourishing in Saudi Arabia. So, let’s delve into it!
Pharma & Biotech Sector
In Saudi Arabia’s healthcare landscape, the pharmaceutical and biotech industry is thriving because of the noteworthy investments from several renowned US companies. These companies forge valuable partnerships with local healthcare institutions, working together to ensure the availability of ground-breaking medications and medical breakthroughs for the Saudi population. Some of these companies include –
Industrial & Manufacturing Sector
The ambitious infrastructure projects and diversification initiatives of Saudi Arabia are the reason why major US industrial and manufacturing companies are considering headquartering in the nation. These companies include –
Agriculture & Food Processing Sector
The pursuit of food security has opened doors for US companies specializing in agriculture and food processing in Saudi Arabia. For instance, Archer Daniels Midland (ADM) is a prominent US-based firm that contributes to the development of the agriculture sector in the nation with the help of advanced farming techniques, food processing technology, and quality seeds.
Other companies include –
Financial Services Sector
As Saudi Arabia continues to strengthen its financial sector, several US financial institutions have established a strong presence in the kingdom. JPMorgan Chase & Co is one of the leading US banks that offers a wide range of financial services, including investment banking, asset management, and advisory services.
Other US-based companies include –
Technology Sector
Saudi Arabia is undergoing a digital transformation, and US technology companies are at the forefront of this revolution. Microsoft, IBM, and Cisco Systems are among the US firms that have partnered with local businesses to provide cutting-edge solutions in areas such as cybersecurity, data analytics, cloud computing, and digital transformation.
Here are some of the well-known US-based IT companies in Saudi Arabia –
Chemicals/Petrochemicals Sector
Given its abundant oil and gas resources, Saudi Arabia has become a global hub for the chemicals and petrochemicals industry. US companies such as Dow Chemical and ExxonMobil Chemical have established significant operations in the kingdom.
Other US companies in this sector include –
- Dow Inc
- ExxonMobil Corporation
- Chevron Corporation
- Huntsman Corporation
- LyondellBasell Industries N.V
Hospitality, Leisure & Entertainment Sector
Saudi Arabia’s Vision 2030 initiative aims to transform the kingdom into a major tourist and entertainment destination. Because of this reason, many US companies specializing in the hospitality, leisure, and entertainment sectors are grabbing this opportunity to expand in Saudi Arabia.
For instance, international hotel chains like Marriott International and Hilton Worldwide have established luxurious hotels and resorts, providing world-class accommodations and services to visitors, both domestic and international.
Other US-based companies in this sector include –
Transport, Logistics & Supply Chain Sector
With its strategic location and ambitious infrastructure projects, Saudi Arabia offers ample opportunities for US companies specializing in transport, logistics, and supply chain management.
Companies such as FedEx Corporation and United Parcel Services (UPS) provide reliable and efficient logistics solutions that contribute to the seamless movement of goods within the kingdom and across borders.
Other companies include –
Defence Sector
Saudi Arabia’s defence industry holds strategic importance, and US defence companies have a long-standing presence in the kingdom. Companies like Lockheed Martin and Raytheon Technologies provide advanced military equipment, technology, and expertise, contributing to Saudi Arabia’s national security.
Some of the other US-based companies in Saudi Arabia are –
EPC (Engineering – Procurement – Construction) Sector
The engineering, procurement, and construction sector in Saudi Arabia has witnessed substantial involvement from US companies. Renowned engineering firms such as Bechtel Corporation and KBR have played pivotal roles in the execution of major infrastructure projects, including transportation networks, energy facilities, and industrial complexes.
Examples of US companies in this sector include –
Setup Your US-Based Business With TASC Corporate Services
US enterprises have successfully penetrated various sectors within Saudi Arabia, capitalizing on the kingdom’s economic diversification efforts and ambitious development projects. From pharmaceutical breakthroughs to technological advancements, agriculture to defence, these industries present a tapestry of prospects for US businesses to flourish and contribute to Saudi Arabia’s advancement.
If you are a US-based company considering expansion into Saudi Arabia, having a reliable partner by your side is imperative. With 15+ years of experience in business setup services, TASC Corporate Services can provide comprehensive support to navigate the complexities of establishing your presence in Saudi Arabia. From company registration in Saudi Arabia and legal compliance to visa processing and market insights, TASC offers the necessary expertise and guidance for a successful entry into the Saudi market.
Reach out to our business setup experts today and unlock the boundless opportunities awaiting your US company in Saudi Arabia.
