News from MEAI
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01.07.2024
The economic outlook for Saudi Arabia remains positive, with continued momentum expected in diversification efforts and economic reforms. German, Swiss and Austrian companies can capitalize on emerging opportunities in the following ways:
While opportunities abound, German, Swiss and Austrian companies must navigate cultural differences, regulatory complexities, and geopolitical risks. Additionally, ensuring compliance with local laws and regulations, as well as understanding the dynamics of the Saudi labor market, are essential for successful business operations in the kingdom.
Saudi Arabia’s economic transformation presents promising opportunities for German, Swiss and Austrian companies across various sectors. By leveraging their expertise, innovation, and global experience, German, Swiss and Austrian firms can significantly contribute to Saudi Arabia’s diversification efforts and forge mutually beneficial partnerships. As the kingdom continues its path of economic reform and developments, collaboration between Saudi Arabia and Germany holds immense potential for driving sustainable growth and prosperity in the region.
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Empowering SMEs: The Impact of Executive Search Firms on Talent Acquisition In today’s competitive landscape, Small and Medium Enterprises (SMEs) across the world face critical challenges in securing top-tier executive talent. These challenges are combined with time constraints, access to specialized skills and the need for confidentiality in sensitive hires. Executive Search firms, like Departer […]
The revocation of previous insolvency laws signals a new chapter for insolvency procedures in the UAE, marked by improved efficiency, transparency, and creditor safeguards. Adherence to the new Bankruptcy Law is essential for businesses in the UAE, as failure to comply could lead to penalties.
Looking forward, we anticipate the issuance of executive regulations to supplement the new law, offering additional guidance on its implementation. In the interim, existing regulations and resolutions will remain in effect, ensuring a seamless transition and stability in the insolvency framework.
In compliance with the regulations of the Ministry of Commerce, all companies operating in the Kingdom of Saudi Arabia are required to amend their articles of association to align with the new companies system outlined in Royal Decree No. (M/132) dated 01/12/1443 AH and its executive regulations as per the decision of His Excellency the […]
China is updating its rules for companies and one big change is how they involve employees in decision-making. Starting July 1, 2024, companies with over 300 employees must include employee representatives in their management teams. This is a departure from the old rule, which mainly applied to state-owned companies. Now this will impact not only […]
Saudi Arabia is swiftly evolving into a global leader. By 2023, the country achieved an impressive 87% of its Vision 2030 goals, significantly boosting non-oil revenues to $121.8 billion and reducing unemployment to 7.7%. These milestones underscore the kingdom’s dedication to sustainable growth and economic diversification.
Vision 2030 has propelled Saudi Arabia to third place among G20 countries in economic competitiveness. This remarkable ascent is driven by comprehensive reforms in performance, infrastructure, and efficiency, firmly positioning Saudi Arabia as a key global economic player.
The UAE government has introduced the “Work Bundle” initiative to streamline employee residency processes and work permits for private sector companies. Initially, this program will be rolled out in Dubai, with plans to extend it to other emirates over time.
Two months ago, the European Union has celebrated the opening of the European Chamber of Commerce in the Kingdom of Saudi Arabia (ECCKSA). This strategic move is set to significantly enhance economic ties between the EU and the Gulf region, offering new possibilities for businesses across Europe, particularly those from the DACH region, looking to […]
The Blue Residency will specifically be granted to supporters of environmental action, including members of international organisations, international companies, members of associations and non-governmental organisations, global award winners, and distinguished activists and researchers in environmental work,” the UAE Cabinet announcement said.
Are you an employee or HR decision-maker working in a German, Austrian or Swiss (DACH) company in the United Arab Emirates? If so, we have a special invitation for you! We invite you to participate in the HR & Salary Survey 2024-25, a collaborative effort between Departer and the AHK (German-Emirati Joint Council for Industry […]
Dubai’s booming economy continues to be a magnet for businesses around the globe. The city’s strategic location, bridging the East and the West, coupled with its world-class infrastructure, creates an ideal environment for businesses to thrive. This cosmopolitan city has become a global hub for trade, finance, tourism and innovation, attracting entrepreneurs, investors and professionals.
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Saudi Arabia is undergoing a remarkable transformation, rapidly establishing itself as a global economic leader. With substantial progress towards its Vision 2030 goals, the Kingdom presents a wealth of opportunities for European and DACH businesses looking to expand into a dynamic and evolving market. Vision 2030: Pioneering Sustainable Growth By the end of 2023, Saudi […]
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Departer is a leading German Executive Search company with more than two decades of experience in multinational leadership recruitment. We specialize in placing executives in medium-sized enterprises and private equity portfolio firms across DACH, MEAI, ASIA and ANZ. Our in-depth understanding of the DACH economy forms the cornerstone of international success stories. Contact Departer today […]