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Why Saudi Arabia?

WHY Saudi Arabia


With a reported $804.9 billion gross domestic product (GDP) in 2021, Saudi Arabia is on the top position as the largest economy in the Middle East and the 19th largest in the world. 
Saudi Arabia's real GDP is expected to rise by an average of 3% between 2022 and 2023, according to the IMF. The aggressive investment strategy aimed at accelerating the realization of Vision 2030, the ambitious national reform plan to reform the Saudi economy, is primarily responsible for this forecasted continuous growth.
The Saudi healthcare sector is one of the main focus areas of Saudi Vision 2030 and National Transformation Program 2020 (NTP) that both aim to increase the quality of healthcare services and facilities across the Kingdom. The budget for Health and Social Affairs in 2022 is 138 billion riyals, or nearly 15% of overall government spending, making Healthcare the third largest beneficiary after education and the military.

Under the Kingdom's Vision 2030, the Health Sector Transformation Program focuses on enhancing public health and disease prevention, as well as expanding access to health care through optimal coverage, comprehensive and equitable geographic distribution, and expanding the provision of e-health services.
There are various projects initiated by the KSA government to achieve these goals such as mandatory insurance for all Saudi and non-Saudi employees, Digital Health : The government has allocated $1.5 billion for healthcare IT and digital transformation programs, Preventive health :  In 2020, Saudi Arabia spent 25 to 35 percent of the total healthcare budget on diabetes, obesity, and cardiovascular diseases. 

This visit offers an excellent opportunity for Finnish companies in (Digital Health / Preventive Health) to network with industry leaders , establish high-level business connections with companies in Saudi Arabia, and explore collaboration opportunities. 
In recent years, Saudi Arabia has seen a change in lifestyle including eating habits. Awareness of healthy eating is on the rise across the county, especially among young people. Finnish food companies offer healthy, pure, and natural products. They are safe products that promote a healthy lifestyle. Finnish food companies have a chance to take a piece of the health food market in KSA. The global health food trend is on the rise, we see that on the shelves of supermarkets and hypermarkets as they dedicate big spaces for health foods. Online shopping is growing fast too in KSA. With growing women's rights leading to a higher employment rate, the demand for convenience products is increasing.
Food from Finland will in KSA organize meetings for participating companies to establish relationships with important stakeholders and to explore business opportunities in various food sectors, for example, healthy food and bottled water.

Source: Business Finland