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Saudi business executives visit Filcom Technologies office
March 19, 2012
Last 19 March 2012, Filcom received two important visitors from RIyadh, Kingdom of Saudi Arabia. Dr. Ahmad Alsolaim and Engr. Ayed Al Shamrani were invited by our Managing Director, Mr. Joland Maderazo to come over to Dubai and observe our activities. Although the proposed itenerary for the day did not push because of constraint in time, the meeting held was an important first step in exploring the possibility of doing business in Saudi Arabia.
Engr. Ayed commented that Saudi Arabia is now booming with a number of important projects and he said that now is the right time to test the economic waters in the Kingdom. Engr. Ayed is the Chairman and owner of Technology Patchs LLC both have their offices in Riyadh, Saudi Arabia.
A foreign company desiring to do business legally in the kingdom must be sponsored by a Saudi-based company who is in the same business as the foreign company.
Saudi oil reserves are the largest in the world and Saudi Arabia is the world's leading oil producer and exporter. Oil accounts for more than 90% of the country's exports and nearly 75% of goverment revenues. Proven reserves are estimated to be 263 billion barrels, about one-quarter of world oil reserves.