Voices from the sector

What were the main highlights for the company in 2020?

2020 was definitely an unforgettable year. The main theme was surviving. We took a big hit in the middle of the year, though it started to improve gradually in the third and fourth quarters. The pandemic actually highlighted some of the problems in our sector. Some of the companies in our holding had important products that were able to support the government sectors with special equipment. Our B2C divisions were affected, but we did comparatively well in our B2B divisions. One last highlight in 2020 was our complete commitment to taking care of our people during the rough circumstances, and that is a value our family has always emphasized in order to grow the group.

What are the next steps for the company now that the blockade has been lifted?

With the lifting of the blockade, we are hopeful of growth in the coming months. We are extremely optimistic about the recovery of retail businesses; the opening of our borders with our GCC neighbors for goods and people will certainly give a boost to B2C businesses. Our holding is not within manufacturing and production, so the threat of competition does not really apply to us. For companies like ours, the government is making sure we compete under fair conditions, so local products will only benefit. The way the government protects local products—while ensuring cooperation and fair competition for foreign companies—is unique in the world and enhances the attractiveness of our country.