RIYADH — German business leaders in Saudi Arabia have launched a “German Vision 2030 Realization Committee” (GVRC) recently to demonstrate the commitment of German companies to be a trusted partner and advisor toward the ambitious Vision of the Kingdom. The Committee represents major German investors in Saudi Arabia, many of them boasting decades of experience and as well as a significant local footprint in the Kingdom. The inaugural session was attended by global giants such as Siemens, Airbus, and thyssenkrupp, medium-sized champions (V-LINE, HÜBNER, coperion), as well as specialized consultancies (e.g. Horvath & Partners and Dornier). Moreover, the Embassy of the Federal Republic of Germany in Saudi Arabia is also part of the GVRC and actively supports this landmark initiative.
The GVRC is the result of a recent workshop organized by the German-Saudi Arabian Liaison Office for Economic Affairs (GESALO) supported by the German Embassy dedicated to analyze the potential of a collective German effort and contribution to the Kingdom’s socio-economic development. The delegate of German Industry from GESALO, Oliver Oehms, said “German companies are eager to contribute to the successful implementation of the Vision 2030 with high-quality products and technical knowhow”. The GVRC representatives discussed cross-disciplinary topics such as knowledge transfer and local investments in addition to education and training as potential German fields of engagement.
The economic Counsellor of the German Embassy Philipp Schoenbrunn-Knappmann underlined that “with the Vision 2030, the Kingdom is undertaking an impressive change of paradigm which has the full support of the Federal Republic of Germany.” Baschar Kassar, Vice President at Siemens Saudi Arabia, emphasized that “generating lasting value for the societies in which we operate is one of the key drivers for Siemens’ business activities. In Saudi Arabia, we have been dedicating our innovative spirit to serve the Kingdom and its society for nearly 90 years, because what is important to the Kingdom, matters to Siemens”. The CEO of thyssenkrupp in Saudi Arabia, Thomas Dreiling, confirmed that “German industrial solutions and knowhow are critical for the successful realization of the Vision 2030.”
The GVRC ensured that other German companies are welcome to join this initiative in the future. Detlef Daues, Founder and CEO of V-LINE, reiterated that “German SMEs are committed to achieve the Vision 2030’s objective to flourish the role of SMEs in the Kingdom of Saudi Arabia from the minor and limited position they maintain today to a vital, leading role in the economy.” As Oliver Oehms summarized, “German companies are ready to invest in Saudi Arabia and share technical knowledge especially among young Saudis to sustainably contribute to the continuous development of the Kingdom in the next years.”
In 2015, Germany was the third most important trade partner of Saudi Arabia. The bilateral trade volume between the two countries touched 11 billion Euros (SR44 billion). Today, about 700 German companies are active in the Kingdom and operate in various industries. Some companies are worldwide leaders in their field, while others are so-called ‘hidden champions’ such as V-LINE, HÜBNER, and coperion.
The Vision 2030 will transform the Kingdom of Saudi Arabia over the next years in many different ways. After being published in April 2016 by Deputy Crown Prince Mohammad Bin Salman, national as well as international companies have studied this strategic paper. The National Transformation Program, which forms the economic roadmap towards the year 2020, outlines a total of 543 initiatives across 24 governmental bodies with a budget of SR268 billion (€67 billion). Therefore, it is crucial for each company operating in the Kingdom to assess how its engagement can contribute to the realization of Vision 2030 and the implementation of the National Transformation Program. — SG
