A Singapore business delegation discovers promising opportunities in Saudi Arabia’s fast-growing FMCG and retail sectors during a mission trip to Riyadh, Jeddah, and Dammam.
Saudi Arabia – Three Singapore FMCG and Retail companies recently completed a successful business delegation trip to Riyadh, Jeddah, and Dammam, exploring new opportunities across Saudi Arabia’s rapidly growing market. Held from October 20th to 24th, this mission followed increased interest from business communities since Singapore and Saudi Arabia’s joint announcement last year to elevate bilateral relations to a “strategic partnership.”
Participating companies—Cloversoft & Co. (eco-friendly daily consumables), Hoover Melamine Industries (melamine dinnerware), and RÓA (artisanal plant-based patisserie)—gained valuable insights into local consumption patterns and engaged with potential partners, while also learning about operating in the Kingdom. The week-long mission trip was organised by business expansion specialist, World Future Enterprises, and provided the delegates with an appreciation of the nuances that exist across three of the Kingdom’s largest cities. The business leaders were able to understand how consumption is affected by the demography and internal migration within Riyadh, Jeddah, and Dammam, where 82% of the population resides in the Kingdom.
Highlights of the trip included a series of meetings and site visits at key potential partners in Saudi’s FMCG and retail sectors, as well as experiencing the local Saudi Hafawah culture of hospitality through an intimate rooftop dinner at Bonjour Saudi in the restored district of Ad-Diriyah in Riyadh. Furthermore, the business leaders had a chance to engage with key management leaders at Shangri-La Jeddah on their experience as a Singapore brand navigating the local market and interact at a dinner hosted by the Consulate-General of Singapore in Jeddah for their insights on Singapore businesses looking to deepen their exploration in the cosmopolitan city.
Participants expressed their pleasure in the informative mission, which allowed them to explore lasting business partnerships and gain strategic insights into the fast-growing Saudi market in FMCG and retail sectors. The business leaders look forward to more platforms of exposure to the Saudi market, such as the upcoming Saudi-Singapore Gastronomy show, to be held in the Kingdom at the end of this year, organised by ecosystem partners, the Singapore Food Manufacturing Association, and World Future Enterprises.
With the surging global business interest and investments into the Kingdom due to its Vision 2030 strategic agenda, it is poised to see more growth in trade between our Singapore and Saudi Arabia business ecosystems.
Solyh Ahmad
Solyh Ahmad is a MENAT correspondent and passionately writes on current affairs related to international trade and diplomacy in the region. He has helped and advised many companies looking to establish and internationalise into the MENAT regions. Connect with him via LinkedIn.
