The year 2020 will always be associated with the coronavirus. The effect on the worldwide economy is currently difficult to predict and will most probably be felt for many years.
German companies are facing challenges around the globe. The German business community in Saudi Arabia is adapting to the new digital routine in an attempt to ensure business continuity in the Kingdom.
The German-Saudi Arabian Liaison Office for Economic Affairs (GESALO) has digitized many of its offerings and is conducting digital meetings between the Saudi-German business community and institutions.
“GESALO is delighted by the professionalism and responsiveness from the private as well as government sectors enabling the German-Saudi relationship to continue in these challenging times,” a statement said.
“Starting and continuing the dialog today will lay a strong foundation for the time when international travel restrictions will be lifted and face-to-face will be possible again. GESALO popular weekly webinars — many in cooperation with local entities — have started making an impact and are playing a pivotal role.
We would like to thank our Saudi partners for their contributions and fruitful discussions, therefore enhancing the partnership.”
Dr. Samra-Rohte, delegate of GESALO, said: “COVID-19 is one of the biggest challenges GESALO, part of the German Chamber of Commerce Abroad (AHK), has seen since it was founded in Riyadh more than 40 years ago.
“However, thanks to digitalization and a solid long-standing business relationship with our partners we will overcome the crisis and look forward to emerging stronger after the crisis through further fruitful cooperation.”
One focus area is the field of renewable energy, where German companies are seeing the potential for investment and cooperation in upcoming tenders.
Besides solar and energy efficiency, hydrogen is one of the topics currently discussed.
Furthermore, the food sector, especially in the field of organic food, offers great opportunities.
The medical sector of Saudi Arabia is another area of interest for German medical equipment producers as well as operators for the upcoming privatization of hospitals. The ongoing megaprojects within Vision 2030 are, despite COVID-19, very much on the agenda of German companies, according to the press statement.