January the 29th, 2025 – Might Croatian companies be able to impress the notoriously demanding Saudi market? From software development to AI and digital services, there’s hope for stronger ties.
As Sinisa Malus/Poslovni Dnevnik writes, Saudi Arabia has been charting a new strategy for a technology-driven future for several years now. In doing so, it has made some very significant strides in sectors ranging from cloud computing and artificial intelligence (AI) to building futuristic smart cities.
Saudi Arabia’s clear path to becoming a global leader in technology is more than just a strategy – it represents a transformative shift in its vision for economic prosperity.
can croatian companies have a slice of the saudi market cake through vision 2030?
Driven by its ambitious Vision 2030 initiative, Saudi Arabia is undergoing a full-scale digital transformation. The primary aim of that is to diversify its economy and position itself at the forefront of innovation and technology industries. This bold move has attracted regional and international companies eager to contribute to the country’s technological evolution.
Vision 2030 is the cornerstone of Saudi Arabia’s long-term technological ambitions, setting out a comprehensive plan to transform the nation into a knowledge-based economy. The government is prioritising sectors such as digital infrastructure, cyber-security and AI, all while promoting innovation and entrepreneurship.
All of this has been recognised by a group of Croatian businesspeople who have announced their plan to visit Saudi Arabia in mid-February. This initiative was driven by the dedicated work of the members of the organisational team, primarily Željko Hanžek and Zoran Šegić. Their frontman is Aco Momčilović, who revealed more about the logic behind the trip.
“The idea to represent Croatian companies on the Saudi market came from recognising the growing potential of that market, especially in the technology sector. Some Croatian IT companies, such as Q or Infobip and Solvership, are already achieving significant success in that region. Despite that, it’s become clear that so far, there has been no long-term strategic approach or initiative from Croatian companies to fully utilise the potential of the Saudi market.
The experiences and successes achieved in that region by our project partner, Željko Hanžek, encouraged us to organise a delegation in order to further strengthen the presence of Croatian companies on the Saudi market. Very quickly, through communication with various companies, we gained even better insights into their experiences. We also proved that there’s a huge interest in expanding to that region,” assured Momčilović.
The final list of Croatian companies that will go to Riyadh next month is still being determined. So far, participation has been confirmed by: eWyse – eLearning Agency, Insa Investment Software AG Development, Aduro ideja d.o.o., SubHosting Innovations Pvt Ltd. Innovations, Robotiq.ai, NEOS, Notch, Mikos, Farseer, FutureHRConsulting, Aqua Power, S.C.A.N. d.o.o. and Ingemark.
croatian companies outside of the it sphere also have a chance on the saudi market
Considering the accelerated digitisation of that entire region, Croatian software companies have the greatest opportunities within reach on the Saudi market.
“Croatian IT companies can certainly contribute in segments such as the development of software solutions, the implementation of AI and the digitisation of services. These are all areas in which they’ve already got plenty of proven experience. What’s important to note, and to dispel the fear, is that only large Croatian companies with a lot of employees can work there. People think that only because of the belief that all projects in Saudi Arabia are enormous. The truth is that there are all kinds of projects of different sizes there. Often, even very small companies with 5 to 50 people employed can find very interesting projects there without any problems.
This time our delegation is largely Croatian IT companies, but not exclusively. There was a lot of interest shown and we’ll certainly lead a much wider range of companies in future delegations, from production, construction to different specialised services. Our message is that in Saudi Arabia and neighbouring countries – there’s work for everyone,” said Momčilović.
Momčilović added that an increasing sum of Croatian companies are quickly recognising the potential of the Saudi market. It’s true that quite a few Croatian companies have been present on the Saudi market since 2013.
It can now firmly be concluded that after this business trip, others will follow, and new jobs for Croatian companies on the Saudi market can likely be expected this year.