Fico Hitech (Pvt) Ltd showcased their products at Middle East Electricity, Saudi Arabia. Mr. Ziaul Islam, Managing Director, Fico Hitech, while talking to Engineering Post informed that this event proved to be a great booster for Fico Hitech’s products in the region. Mr. Zia said that with regard to declining economic conditions in Saudia, they have started looking for cheaper substitutes against the expensive European products. Saudi market is more open for Indian and Turkish products compared to Chinese products. Once the Pakistani market player is successful in winning their confidence, it can prove to be a game changer for Pakistan’s export, he added. “ Although it is always tough to get approval from Saudi Electricity Company, mainly because of their hard procedures, still if one can get the green signal, a market of huge orders is waiting for you”, Mr. Zia commented.
Due to the participation in Middle East Electricity, Saudia, Fico Hitech is negotiating export orders with 5 companies out of which one has confirmed. Mr. Zia mark this a great success for Fico’s further penetration in the region.
The changing trends in Saudi Market due to changed economic conditions have opened the doors for Pakistan. Pakistan can capitalize the situation as Saudi companies are looking for cheaper options. Mr. Zia suggested that as the government of Pakistan is currently concentrating on increased exports, Saudi Arabia can be a great option to look for. Truly a good emerging market for Pakistani products, he concluded.
