DAMMAM, Kingdom of Saudi Arabia, March 31, 2015 /PRNewswire/ -- Frost &
Sullivan, the Global Growth Consulting firm recently opened its
third regional office in the Middle
East at the Eastern Province Capital City of Dammam,
Kingdom of Saudi Arabia (KSA). The
multi-national consultancy also has a presence in Dubai, U.A.E. and Sanabis, Kingdom of
Bahrain, in the Middle East.
The large and growing population of the KSA presents one of the
most sizable domestic markets in the Middle East region. Over past several years,
Frost & Sullivan has been working with many leading companies
and family owned businesses in the KSA, assisting them with
various aspects of strategy and growth. Our consultants have
been working hand in hand with our clients' teams to identify,
strategise and implement growth opportunities in various sectors.
The new office in Dammam is the
testament to our commitment of continuing partnerships with our
clients in the KSA.
On this occasion and speaking about the economic scenario in the
KSA, Y.S. Shashidhar, Managing
Director, Middle East,
North Africa and South Asia, Frost & Sullivan said,
"Close to half of KSA's GDP is still dependent on oil production,
which also constitutes 80 percent of the Government's income.
A large number of basic products consumed in the country are
imported, whereas exports mostly consist of petroleum
products. Therefore, the KSA continues to have a strategic
need to diversify its economy to non-oil sectors, primarily
manufacturing, that currently constitutes just around 10 percent of
the GDP. The growth in manufacturing sector is also needed,
to employ the fast growing population of young engineers and
graduates coming out of the universities and technical
colleges."
The KSA's economy is expected to witness remarkable growth in
manufacturing, healthcare, education, infrastructure and utilities
sectors over the next several decades. Service sectors will
also simultaneously grow immensely in size and scale as it does in
the time of economic growth and prosperity. Frost & Sullivan
through its global presence, strategic consulting and
with a vast industry knowledge will provide solutions on expansion,
portfolio optimisation, sustainable businesses, operational
improvement, benchmarking etc. which will enable the businesses
in the KSA region in their transition to growth. The companies that
are best positioned to be benefited from the impending
diversification and expansion of the KSA economy are the large
number of family groups. These true local entities have been the
workhorse of the country's economic growth in the past and will
continue to lead the country to the future.
Frost & Sullivan with its local foothold in the KSA will
work on strategising the localisation initiative for manufacturing
in critical areas, which are dependent on imports for the largest
oil and gas conglomerate, thereby supporting the local family owned
businesses and new entrepreneurs to tap into these opportunities
and exploit the potential for the future business.
"Leveraging Frost & Sullivan's global industry specific
expertise to structure and implement actionable strategies will
help clients make lasting improvements to their performance and
realize their most important goals. Together, we find value across
boundaries, develop insights to act on, and energise teams to
sustain success. The value we bring to them is a combination of
strategy consulting expertise, and a proven track record of
delivery, with unrivalled global scale and experience," added
Shashidhar.
In over 45 offices across the globe with more than 1,800
analysts and consultants on ground, Frost & Sullivan brings in
the expertise on the most extensive range of industries like
Automotive and Transportation, Chemicals, Materials and Foods,
Electronics and Security, Energy and Environment, Healthcare,
Information and Communication Technologies, Industrial Automation
and Process Control, Manufacturing and Process Consulting, Metals
and Minerals, Customer Research Management and the Public
Sector.
If you are interested in knowing more about the growth
opportunities in your industry, please send an e-mail with your
contact details - your full name, company name, title, telephone
number, company e-mail address, company website, city, state and
country to Anita Chandhoke/
Paroma Bhattacharya, Corporate
Communications, Frost & Sullivan, at achandhoke@frost.com /
paromab@frost.com.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in
collaboration with clients to leverage visionary innovation that
addresses the global challenges and related growth opportunities
that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these
opportunities and incorporating two key elements driving visionary
innovation: The Integrated Value Proposition and The Partnership
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Proposition provides support to our clients throughout all
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For more information, Contact:
Anita
Chandhoke
Corporate Communications- Middle East and North Africa
P: +91 80 67028020
F: +91 80 41530934
E: achandhoke@frost.com
Paroma Bhattacharya
Corporate Communications - Middle
East and North Africa
P: +91 22 6607 2047
F: +91 22 2832 4713
E: paromab@frost.com
Ravinder Kaur
Corporate
Communications - Middle East, North
Africa and South Asia
P: +91 44 6681 4413
F: +91 44 2431 4264
E: ravinder.kaur@frost.com
http://www.frost.com
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SOURCE Frost & Sullivan