Recent partnership activity in Saudi Arabia is at a pace, scale, and intensity unprecedented in our historical experience serving clients in the country. Saudi companies are now averaging almost 140 material joint ventures and partnerships a year with 2021 deal volumes reaching record highs. These successful joint ventures and partnerships no longer follow traditional patterns with domestic firms increasingly embracing broad scopes, international expansion, and sector focus beyond oil and gas. Such changes reflect the importance placed on partnerships by Vision 2030, the Kingdom’s statement of economic development goals, which heavily emphasizes partnerships. These trends mean companies in Saudi Arabia must position themselves for excellence in JV dealmaking and in post-deal governance and management.
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