Canon Middle East (CME), a provider of imaging technologies and services, has announced that it is expanding its regional presence by establishing direct operations in Saudi Arabia. The announcement came during a signing ceremony between CME and Ali Zaid Al-Quraishi & Brothers to formally establish Canon Saudi Arabia.
Canon Saudi Arabia will operate from Riyadh and with an additional two branches in Jeddah and Alkhobar will be become the company’s largest entity in the region. With over 300 employees by 2020, Canon Saudi Arabia aims to directly contribute to the Kingdom’s economy and industry diversification strategy as outlined by Vision 2030.
Anurag Agrawal, managing director, Canon Middle East, said: “Establishing Canon Saudi Arabia is an integral part of our strategy of becoming closer to our customers through direct presence in key markets. Saudi Arabia is witnessing a transformation into a more diversified economy with several industries developing and establishing a presence in the region’s largest market. Through our products and business solutions, Canon Saudi Arabia aims to help customers address these opportunities and establish thriving businesses.”
Faisal Al-Quraishi, chairman, Ali Zaid Al-Quraishi & Brother Co. LTD, said: “The joint venture between CME and AZAQ comes as a result of a long business relationship between Canon and Al-Quraishi Group that is 50 years in the making; and this development comes as a natural progression of our successful business ties. AZAQ sees this joint venture as a contribution to the country’s 2030 vision whereby Canon, a global brand, contributes to the Kingdom’s transformation through its innovative technologies and solutions. Furthermore, the partnership will be highly committed to train young Saudi nationals as well as advance technology in private and government sectors alike.”
The new company in the Kingdom will report to Canon Middle East, which will continue in its role as a regional sales organization for the Middle East region. Following the successful development of Canon Emirates, Canon Middle East’s direct operation in the UAE, this strategic step allows Canon to further expand its offerings across the Saudi market where there is a growing need for digital and other technology-based imaging services.
These services are also particularly in demand with the growing number of small to medium enterprises (SME) that require fast, efficient digital systems to operate. Currently, SMEs make up over 91 percent of total enterprises in Saudi Arabia. By facilitating their technology and imaging infrastructure, Canon is supporting the Vision 2030 directive of increasing SME GDP contribution to 35 percent by 2030, forming the backbone of Saudi Arabia’s diversified economy.