Philips signs agreement with Saudi retail giant

Wael Gad, CEO of Philips Lighting Saudi Arabia, left, signs distribution agreement with Yaser Ahmed A. Anam, chief operating officer of Ahmed Abdulwahed Co., in Riyadh.
Updated 02 May 2017

Philips signs agreement with Saudi retail giant

Philips Lighting Saudi Arabia, the global leader in lighting, has signed a strategic distribution agreement with Ahmed Abdulwahed Trading Company for its LED (light-emitting diode) and home consumer offering. The evolution of LEDs have changed the industry with innovative new applications, offering significantly greater connectivity, durability and energy-efficient light source.
Wael Gad, CEO of Philips Lighting Saudi Arabia, said: “We are thrilled to sign an agreement that represents a milestone and turning point for serving the end consumers better in the Kingdom. This partnership will give consumers easier and greater access to LED and home products, providing them more energy-efficient and environmentally-conscious lighting,” he added.
The agreement comes at a time when austerity measures by the Saudi government are calling for conscious consumption and elimination of wasteful usage of energy and electricity.
Asked about the misuse of energy, Gad said: “Lighting in house and retail outlets is responsible for 17 percent of electricity use in the Kingdom. The global average is 15 percent, presenting a key area for energy conservation or usage of energy-efficient appliances at homes, in offices, and public places.”
He said the Kingdom is aiming to reduce these dependencies by reducing the size of the subsidies offered on energy and other household services. “The Kingdom is an important market for us, we manufacture locally — operating three factories — and work closely with the local authorities to enhance the LED offering,” Gad added.
He pointed out that the LED lighting (from reputable brands) is proven to be five times more efficient than most halogen bulbs and lasts ten times longer than the traditional light bulbs.
“Philips is committed to remain a trusted partner for the Kingdom and as a supplier of sustainable energy efficiency technologies to meet the goals of Saudi Vision 2030,” he added.
Yaser Ahmed A. Anam, chief operating officer of Ahmed Abdulwahed Co., who signed the agreement on behalf of Ahmed Abdulwahed Co., said: “We have been dealing with several brands, we serve retail channels including shops and supermarkets. We have our own network of 55 retail shops in 20 cities, and hence we have more focus on retailing.”


SAGIA, Xylem ink $50m MoU to advance water security

Updated 05 December 2019

SAGIA, Xylem ink $50m MoU to advance water security

Water technology firm Xylem has signed an MoU with the Saudi Arabian General Investment Authority (SAGIA), representing an investment of $50 million. The agreement aims to expand Xylem’s manufacturing footprint into the Kingdom, and to better serve its portfolio of customers in Saudi Arabia and across the region.

Under the MoU, Xylem will work with SAGIA to develop and localize advanced water and wastewater products and technologies to address water challenges in Saudi Arabia, as well as increase its footprint of service points and rental fleets across the Kingdom. A core objective of the MoU is to accelerate adoption of digital water solutions and optimize utility networks across the Kingdom.

The proposed multimillion-dollar investment will not only help build a vibrant local supply chain, but also see Xylem bringing additional commercial opportunities into the Kingdom, with the wider aim of improving water solutions locally. The agreement is in line with the goals of Saudi Vision 2030 to promote economic diversification through investments in localization that will also contribute to the export of “Made in Saudi” products across the world.

The MoU was signed on the sidelines of the Future Investment Initiative (FII), commonly known as the “Davos in the Desert,” by Ibrahim A. Al-Omar, governor of SAGIA, and Steven Leung, senior vice president and president, emerging markets of Xylem, in the presence of senior officials of both entities and Frank Ackland, managing director Xylem Middle East.

Al-Omar said: “As Saudi Arabia welcomes investors and decision-makers from across the globe to this annual global investment platform, the agreements exchanged here reflect the strength and diversity of the economy. Under Saudi Vision 2030, Saudi Arabia is undergoing an ambitious program of economic reform, and the world is taking notice. This month, Saudi Arabia climbed 30 places in the World Bank’s Doing Business 2020 report, becoming the most improved economy globally. The indicators are
clear: Saudi Arabia is not only open for business, it’s the economy of the future.”

Leung added: “As Xylem continues to lead the water sector’s digital transformation globally, this MoU presents an opportunity to leverage our market-leading portfolio and application expertise to advance water security in Saudi Arabia. Through our investment of $50 million, and with our strong presence in Saudi Arabia, backed by our dedicated office and team, we are committed to creating in-Kingdom value through our investments and partnerships. We are thankful to SAGIA for the opportunity to directly contribute our expertise to the development vision of the leadership, as the Kingdom embarks on its ambitious transformation program.”