The ChemQuest Group, Inc. recently announced its successful bid to assist the Saudi Arabian General Investment Authority (SAGIA) representing the Kingdom of Saudi Arabia (KSA), with its historic initiative to drive sustained economic development to KSA through a technical and market study of paints and coatings within Saudi Arabia. ChemQuest’s recommendations, which will be developed on the basis of competitive criteria from other model countries such as the U.S., Germany, and China, must conform to the Kingdom of Saudi Arabia’s Vision 2030, endorsed by the Cabinet on April 25, 2016.
According to The ChemQuest Group, the company will define a profitable, organic-growth-oriented business investment case for the production of paints and coatings products in Saudi Arabia to meet growing regional demand in the Middle East, amid persistent import gaps. ChemQuest will develop critical benchmark requirements for best investment practices within the global paint and coatings industry. ChemQuest’s multi phase research and analysis will culminate in a best-in-class financial investment model for SAGIA that will outline the short- and long-term competitive advantages (and investment attractiveness) of producing paints and coatings within Saudi Arabia, with a special focus on identifying and overcoming barriers to sustained growth and profitability, or otherwise limiting foreign and local investments.
Saudi Arabia’s Vision 2030 objectives (designed to deliver sustained economic growth to the region in multiple phases) will be implemented through 2030, with robust improvements underway now through 2020.
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