AstroLabs, the Gulf region’s leading business expansion platform, has partnered with Saudi Awaal Bank “SAB”. This partnership serves to support the aspirations of fast growing companies seeking to enter and expand their business activities in the Kingdom of Saudi Arabia; as well as strengthening SAB’s commitment to the Kingdom’s aim to accelerate private sector contribution to the economy (with a goal of achieving a 65% contribution to GDP from the private sector by 2030).
The partnership provides a seamless experience for companies by offering dedicated support in relation to market entry guidance, company formation, and licensing. Supplementary services also include support with identification and setting up of offices and ongoing business development opportunities.
Saeed Assiri, Chief Innovation Officer at SAB commented: “Our partnership with AstroLabs reaffirms our steadfast commitment to enhancing and supporting the Kingdom’s economic growth. This collaboration not only reflects our vision for a more innovative approach to supporting the growth of the Kingdom’s start-up ecosystem, but also demonstrates our deep interest in effectively contributing to the goals of Vision 2030.”
He added: “By providing support to fast-growing international companies navigating their entry into the Kingdom, this partnership will help stimulate further growth of the national economy, thereby empowering our capabilities and enabling a prosperous future for the coming generations.”
Roland Daher, Chief Executive Officer at AstroLabs, said, ‘’At AstroLabs, we’re focused on helping companies land and grow in Saudi Arabia the right way – from setting up to building real and lasting connections in the market. Partnering with SAB takes that even further. We’re bringing together our deep expansion know-how with SAB’s financial infrastructure to give businesses exactly what they need to get moving fast and start operating with confidence in the Kingdom.”
Utilizing its years-long expertise and profound understanding of the Saudi market, AstroLabs will be able to support incoming businesses in various areas during and after the setup process, including licensing, access to top-tier talent, and office spaces, among other services, in addition to innovation and soft-landing programs. The partnership will also enable newly landed businesses to benefit from new collaborations within SAB’s and AstroLabs’ ever-growing networks.