V-Line invests heavily in KSA as commitment to Vision 2030
V-Line EUROPE GmbH, a global leader in industrial supply chain solutions, has announced the establishment of V-Line Middle East in the Kingdom with a full trading license. The initial investment of nearly SR27 million ($7.19 million) will contribute to creating 100 new jobs.
“This development marks one of the largest investments from a foreign small and medium-size enterprise (SME) in Saudi Arabia and one that advances the goals of a robust and diversified economy of the Kingdom’s Vision 2030,” the company said.
“The establishment of V-Line Middle East is a testament to our enduring success in the Kingdom, which began with the launch of our Jubail branch, V-Line Saudi Arabia, in 2008 under the leadership of Shahzad Haider,” said V-Line Europe Founder and CEO Detlef Daues. “Our unparalleled ability to anticipate and understand the unique needs and objectives of our clients in the region has afforded us the opportunity to work with many exceptional enterprises both in the Kingdom and internationally.”
V-Line Europe GmbH has appointed Anas El Arras as chief executive of V-Line Middle East.
El Arras described his new role as one that will “focus on expanding our established portfolio in Saudi Arabia by encouraging further local value creation and reflect our deep commitment to Saudi Vision 2030 by availing opportunities to develop the talents of young Saudis.”
Daues said: “I am very thankful to Crown Prince Mohammed bin Salman for introducing Saudi Vision 2030. The establishment of V-Line Middle East affords us an opportunity to contribute to the Kingdom’s National Transformation Program by encouraging international SMEs to invest in Saudi Arabia and to support international Saudi-based businesses.”
Daues expressed appreciation for German ambassador Dieter W. Haller and the Saudi ambassador to Germany for their continued support and encouragement. He also thanked the Saudi investment partners “who made the establishment of V-Line Middle East possible.”
“This marks the beginning of renewed vision and purpose of V-Line within the Kingdom of Saudi Arabia. Together, we will achieve our shared aim of realizing the goals of Saudi Vision 2030,” Daues added.