UAE firm forays into Saudi Arabian market

Inayat-ur-Rahman, Business Editor

In a strategic move to strengthen business ties between the Kingdom of Saudi Arabia and the United Arab Emirates, INDEX Holding has officially opened the doors to its regional office, “Integrated Platform Company,” in Riyadh. The inauguration unfolded at the esteemed Riyadh International Convention & Exhibition Center by Dr. Abdulsalam Al Madani, Chairman of INDEX Holding, demonstrating a significant leap forward in fostering economic cooperation between both countries.

As the Meetings, Incentives, Conferences, and Exhibitions (MICE) market continues its exponential growth, the strategic alliance between the UAE and Saudi Arabia promises to shape the future landscape of the events sector in the region.

The inauguration showcased INDEX’s global influence, organizing over 45 conferences and exhibitions annually. Emphasizing the enduring alliance between the United Arab Emirates and Saudi Arabia, INDEX’s expansion reflects a dedicated commitment to strengthening economic relations.

Moreover, INDEX is presently organizing the fifth successive edition of the Saudi International Dental Conference (SIDC) in Riyadh from January 18 to 20, further underscoring the strategic importance of this initiative.

Government officials, industry leaders, and dignitaries from Saudi Arabia and the UAE were present, including key figures Dr. Ziyad Allahem, President of the Saudi Dental Society; Prof. Khalil Ibrahim Al Eisa, former president of the Saudi Dental Society; Dr. Meshari Faraj Al-Otaibi, President of Makkah International Dental Conference & Exhibition; and Dr. Nahawand Thabet, Consultant of Oral and Maxillofacial Surgery, and FDI Liaison in Africa.

Dr. Abdulsalam AlMadani, Chairman of INDEX Holding, underscored the significance of this strategic move, stating: “This step is part of an ambitious strategy to promote cooperation between the UAE and Saudi Arabia in the event’s industry. INDEX seeks to continue its progress in expanding and shaping the future of the events sector inspired by the vision of the wise leadership of the United Arab Emirates, which is firmly founded on brotherhood, shared visions, and strong positions under the leadership of His Highness Sheikh Mohammed Bin Zayed Al Nahyan President of the United Arab Emirates and the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz of Saudi Arabia.”

The MICE industry emerges as a cornerstone of prosperity for burgeoning economies, spotlighting a profitable sector vital to their success. Recent data reveals the global fair organization market’s worth surged to approximately US $19.7 billion in 2022, with projections foreseeing a staggering ascent to US $60.7 billion by 2030, sporting a remarkable Compound Annual Growth Rate (CAGR) of 15.1% from 2022 onward.

The UAE and Saudi Arabia share significant elements that fortify bilateral cooperation, fostering diversification and unlocking fresh opportunities across vital sectors, particularly in the economy. This collaboration underscores a shared commitment to realizing sustainable economic growth and amplifying the visionary objectives of the strategic roadmap conceived by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Deputy Prime Minister of Saudi Arabia. As both nations nurture this exceptional partnership, it paves the way for a brighter, more sustainable future marked by innovation, economic prosperity, and mutual success.

Highlighting the UAE’s pivotal position as a central ally to Saudi Arabia, the enduring partnership was underscored by its collaborative spirit and shared experiences. Through its wise vision, INDEX’s growth takes center stage, amplifying its role as a catalyst in driving global cooperation and mutual economic development. This development signals a significant step towards reinforcing international alliances and fostering increased collaboration between the two nations.

As part of this transformative journey, INDEX will play a central role in charting new horizons in the event industry in Saudi Arabia, contributing to the dynamic landscape of the MICE industry. This strategic alliance reflects fraternity-based relationships between the leaders and peoples of the UAE and Saudi Arabia, showcasing a successful aspect of regional cooperation.