December 27, 2010
(Saudi Economic Survey (Saudi Arabia) Via Acquire Media NewsEdge) Leading business software provider, SAP, has launched the Center of Excellence for the Chemicals Industry in Saudi Arabia to support the flourishing market.
The center offers members a unique combination of business tools that includes preconfigured software supporting industry-specific best practices, along with regional consulting services and a regional collaboration hub for communication and innovation.
Five of the world’s top 10 chemical producers will be from Saudi Arabia by 2015, say industry analysts illustrating the rapid growth and development in this market.
Enhanced supply from new refineries and increased investment in differentiated chemicals are transforming Saudi Arabia’s petrochemicals sector, which accounts for the largest non-oil sector in the Kingdom.
“This, coupled with a strong drive to diversify the economy and move towards value-added downstream products will strengthen the Kingdom’s position as a strategic global hub for the expanding chemical industry,” said Omar Al-Madhi, vice president of energy, Saudi Arabia General Investment Authority (SAGIA).
The country’s prime location on key global trade routes along with several other competitive advantages will significantly reduce the cost of doing business in this critical and growing global industry, he said.
The Middle East and North Africa (Mena) is among the fastestgrowing regions for manufacturing petrochemicals and downstream products. There are many reasons that account for this: government investment, favorable feedstock situation, close proximity to the emerging economies of the Asia- Pacific-Japan region, including China and India, and rising populations.
“With population growth comes burgeoning domestic demand for downstream materials used in the production of consumer products and building and construction materials. To thrive in this promising but challenging market operational excellence is paramount. SAP is supporting regional chemical companies in driving operational excellence and helping them to become best run businesses through establishing a Center of Excellence as a regional hub for collaboration on best practices,” said Don Mahoney, vice president of SAP’s Chemical Industry Business Unit, who met with Saudi officials.
“94 per cent of the top 50 global chemical companies – and more than 2,600 in all – run SAP applications and with the insight this brings, we are committed to supporting the Mena region in becoming highly-efficient chemical producers to rival anywhere else in the world. A key aim for SAP is to serve as a trusted advisor for companies in this region, leveraging deep experience gained through its global leadership in chemicals to make every company a best-run business,” said Abdul-Raheem Bawazeer, managing director, SAP, Saudi Arabia.
“Since its entrance into Saudi Arabia late in 2007, SAP has more than quadrupled its initial investment and number of employees in the country making it into the top one hundred investors in Saudi Arabia. Integrating its offerings with one of the main pillars of the Saudi economy further strengthens its presence and added value for the national economy,” said Ahmad A Al- Yamani, chief technology officer, Saudi Arabian General Investment Authority (SAGIA).
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