Since the launch of Saudi Arabia’s Vision 2030, the Kingdom has rapidly emerged as a leader in technological innovation and adoption. Driven by a need to diversify its economy, the Kingdom has invested in cutting-edge sectors such as artificial intelligence, renewable energy, and smart cities, and is fostering an increasingly dynamic ecosystem that encourages innovation.
This forward-thinking approach has created fertile ground for both established multinationals and startups, including UK companies looking to do business in Saudi Arabia. In this article, we summarize the opportunity provided by the UK-Saudi Trade Corridor initiative (led by the Department for Business and Trade and supported by OCO Global), and the role that OCO’s Connect platform is playing in promoting UK-Saudi collaboration.
Opportunities for UK Businesses in Saudi Arabia
The UK-Saudi Trade Corridor initiative acts a platform to connect UK businesses with Saudi Arabia’s Giga-projects—large-scale initiatives that are integral to Vision 2030. The corridor has opened export opportunities for UK businesses across key sectors, including Design and Construction, Advanced Manufacturing and Industry 4.0 (such as Waste Management), and Retail, Tourism, Creative Industries, and Sports. So far, 43 UK companies have been onboarded, participating in over 100 meetings with Saudi buyers and connecting with over 500 relevant Saudi companies.
These sectors, particularly well-positioned to leverage innovative technology, can use advanced digital tools to streamline operations, enhance decision-making, and optimise market entry, aligning with Saudi Arabia’s evolving needs. The project has already created a pipeline of £16 million in prospective export opportunities from virtual engagements, while in-market activities like Big 5 (Construction) and LEAP (Digital) have played pivotal roles in generating additional export pipelines. This technological edge supports Saudi Arabia’s Vision 2030 by boosting UK export growth through optimised supply chains, improved customer management, and real-time market insights.
OCO Connect: UK-Saudi Collaboration
In line with Saudi Arabia’s growing technological ecosystem, OCO Connect—developed by OCO Global—serves as a crucial platform for fostering UK-Saudi business collaboration. UK companies have engaged with more than 50 Saudi organisations through this platform, successfully establishing relationships with prominent Saudi partners, including King Fahd University of Petroleum and Minerals (KFUPM), KAUST, RATP-Dev, NEOM, Elm, Red Sea Global and Jeddah Central Development Company.
OCO Connect provides UK companies with tailored insights, resources, and B2B opportunities that enable them to tap into Saudi markets effectively. Through events like LEAP and interactive webinars, businesses are able to engage directly with decision-makers from Saudi Giga-projects, including the visionary NEOM project.
The platform not only facilitates market entry but also promotes long-term partnerships between UK and Saudi companies. By aligning UK expertise with Saudi Arabia’s Vision 2030 goals, these collaborations position UK firms for international success while supporting the Kingdom’s ambition to become a global leader in technology and innovation.
The Road Ahead: Long-Term Partnerships and Global Tech Leadership
Saudi Arabia’s Vision 2030 presents a remarkable opportunity for UK businesses to expand their global footprint while contributing to the Kingdom’s ambitious plans. As Saudi Arabia continues to invest heavily in digital infrastructure and cutting-edge technology, platforms like OCO Connect will play a vital role in fostering long-term partnerships that align with Saudi Arabia’s forward-thinking goals. UK firms are already seeing tangible benefits from in-market engagements, such as the £1 million export pipeline generated through Big 5 and the £500,000 pipeline from LEAP.
Through these collaborations, UK businesses can help drive innovation, optimise their market strategies, and solidify their position in a rapidly evolving global market. In conclusion, Saudi Arabia’s transformation into a tech and innovation hub is creating new pathways for international businesses.
Author: Hoda Shahzadeh