Canon expands to Saudi Arabia
June 11, 2018
Canon Middle East (CME) has announced that it is expanding its regional presence by establishing direct operations in the Kingdom of Saudi Arabia (KSA).
The announcement came during a signing ceremony between CME and Ali Zaid Al Quraishi & Brothers to formally establish Canon Saudi Arabia, which will become the largest regional direct presence for CME.
Canon Saudi Arabia will operate from Riyadh, and with an additional two branches in Jeddah and Khobar, will be become the company’s largest entity in the region. With over 300 employees by 2020, Canon Saudi Arabia will directly contribute to the Kingdom’s economy and industry diversification strategy as outlined by Vision 2030.
Anurag Agrawal, Managing Director, Canon Middle East, said: “Establishing Canon Saudi Arabia is an integral part of our strategy of becoming closer to our customers through direct presence in key markets. Saudi Arabia is witnessing a transformation into a more diversified economy with several industries developing and establishing a presence in the region’s largest market. Through our products and business solutions, Canon Saudi Arabia aims to help customers address these opportunities and establish thriving businesses.”
Faisal Al Quraishi, Chairman, Ali Zaid Al Quraishi & Brother Co. LTD, said: “The joint venture between CME and AZAQ comes as a result of a long business relationship between Canon and Al Quraishi Group that is 50 years in the making; and this development comes as natural progression of our successful business ties. AZAQ sees this joint venture as a contribution to the country’s 2030 vision whereby Canon, a global brand, contributes to the Kingdom’s transformation through its innovative technologies and solutions. Furthermore, the partnership will be highly committed to train young Saudi nationals as well as advance technology in private and government sectors alike.” 
The new company in KSA will report into Canon Middle East, which will continue in its role as a Regional Sales Organisation for the Middle East region. Following the successful development of Canon Emirates, Canon Middle East’s direct operation in the UAE, this strategic step allows Canon to further expand its offerings across the Saudi market where there is a growing need for digital and other technology-based imaging services. As the government, and other large entities, seek to implement the latest digital business solutions to become more agile, competitive, efficient, reduce operational costs and to adapt to today’s changing business environment, Canon states that its suite of products and services address challenges and allow for streamlining of processes to achieve growth through organisation-wide digital transformation.
These services are also particularly in demand with the growing number of small to medium enterprises (SME) that require fast, efficient digital systems to operate. Currently, SMEs make up over 91 percent of total enterprises in Saudi Arabia, and by facilitating their technology and imaging infrastructure, Canon explains it is supporting The Vision 2030 directive of increasing SME GDP contribution to 35 percent by 2030, forming the backbone of KSA’s diversified economy
“Establishing a long-term presence in KSA adds value to Saudi economy by contributing to the development of a sophisticated digital infrastructure mandated by Vision 2030; which will ultimately attract investors and enhance the competitiveness of the Saudi economy. The IMF is forecasting KSA economy to expand by 1.7 percent in 2018, with predictions of a 1.9 percent growth in 2019, all of which are good indicators of the transformation and growth the Kingdom is witnessing,” added Agrawal. “Historically through our direct operations, we have aided governments and organisations differentiate their business by providing simple and effective solutions and outcomes. We are confident that with Al Quraishi as our local partner, this is a further step towards becoming leaders in imaging solutions across the Middle East.”
In addition to supporting business achieve their goals, Canon Saudi Arabia “has the objective of investing in its employees by enhancing the skills and professionalism of Saudi nationals through extensive learning and development programmes, embracing and enhancing the talent of Saudi youth, and empowering women to further support the country’s Saudisation programme.”
Following Canon’s corporate philosophy of ‘Kyosei’ which means living and working together for the common good, Canon Saudi Arabia explains that the company also aims to establish a strong relationship with the Saudi society through environment initiatives and community welfare programmes that give back and support various causes.
Categories : Around the Industry
Tags : Canon Economy Expansion Middle East Saudi Arabia
