Opening of Vilicom’s office in Saudi Arabia in the Intercontinental Hotel, Riyadh (at 3.30pm local time)

I am delighted to be here today to meet with the representatives of SAGIA and Vilicom and their Saudi and regional partners.

Vilicom is a good example of the new breed of Irish companies, often technology based, who are identifying opportunities, building partnerships and looking to consolidate their presence in Saudi Arabia. 

The establishment of an office by Vilicom in Riyadh is a sign of its commitment to their partners and its view of the expanding opportunities in the Kingdom.

This is the first office to be set up by an Irish company in Saudi Arabia since the days of the Almarai / Masstock farming venture.  SAGIA, as a progressive inward investment agency, has greatly supported Vilicom in completing this process. 

Setting up in the region is a route to a market that the Irish Government trade and technology agency, Enterprise Ireland, based here in Riyadh, would strongly recommend to Irish companies.

One of the very strong similarities between Ireland and the Kingdom of Saudi Arabia is in how we do business.  The personal relationship comes first and then people decide if they wish to do business together.  It is important, therefore, for companies to spend time together and find a way to work together.

The importance of the Gulf region to Ireland has grown significantly over the last few years.  Nothing demonstrates this more than the fact that, with 114 participating companies, this is one of the largest trade missions ever to leave Ireland.

I wish Vilicom every success here in Saudi Arabia.  We will be working energetically, through our colleagues in Enterprise Ireland, to promote further opportunities for co-operation and trade development.

Thank you.

ENDS