Key leaders of Saudi conglomerate Tamer Group
Positioning Saudi companies to support transformation goals
In this Global Platform video, leaders of Saudi conglomerate Tamer Group discuss how their strategic plans align with Vision 2030 goals and build on lessons learned during the Covid-19 pandemic. Overarching themes include accelerating corporate digitalisation initiatives, the shift to modern technology and solutions, tapping into Saudi Arabia's innovation-minded and tech-savvy young workforce, and ensuring operations are environmentally and socially conscious.
If our country grows, we grow with our country.
Jeddah was 5000 people and we became 5m people, so our company increased the same percentage.
My purpose is to help, first, the country and serve my people because whenever there is a possibility, I will serve them.
I think we are all entering a new field.
Saudi Arabia, I believe, will have an opportunity in this coming period.
Our education system is quite ahead of its time, and the Saudi population are very hungry to develop innovation and to develop new ideas.
Vision 2030 is looking at developing the economy and developing the soft quality assets of the Saudi people.
We are doing that because we have a strong conviction that Vision 2030 will benefit the economy, society and, of course, our group.
We came out of the pandemic stronger than when we entered, but it taught us a lot of lessons; we were reborn.
We're thinking differently and we have a different approach today.
It has accelerated our work, it has accelerated our willingness to adopt ESG goals and it has accelerated our digitalisation process.
It's not only about whether the operations are profitable or not, but also, “Are there products that we're making, producing waste, that are going to affect us down the line and create a less ideal world and environment that we're going to end up living in and we're going to pass onto the generations following us?”
Technology has impacted so many different industries, of course health care is no different.
The adoption of technology in health care has lagged behind other industries.
Today there's major strides in the adoption of technology in health care.
The impact is seen in supply chains, in customer-facing and the service industry of health care; it's much more personalised.
These changes are seen today in the developed countries that are already impacted.
The young generation is tech-savvy.
The manufacturing world is moving towards more technology-driven, automation and robotics, and I think that marries very well with the young generation.
Facilities today are going to adopt higher technology that requires people that will know how to run automation, and that’s a good fit with the young people coming into the workforce now.
When you look at big data there's so much data that can be analysed in so many different ways, but ultimately it's for us as decision makers to decide what actual information we want to get from this data and what actions we are going to take as a result of it.
Today the patient should have access to new formulations of pharmaceuticals as soon as they come out.
That is a choice that the patient should have: allowing the patient to order online and receive it at home.
The patient should have the choice of new formulations across the globe for their own benefit.
The Saudi market represents the majority of the total MENA market, and it's around $10bn split between private and the government with the ratio of 45% for private and 55% in the government.
Now the market is shifting towards localisation and Saudi has started the journey of localising the pharmaceutical industry quite later than other markets in the region, like Egypt and Jordan.
In spite of that, today Saudi is playing a major role in the production of pharmaceuticals for the local market and for export.
Actually, the entire health care system is moving from illness to illness, and more emphasis now is given to prevention and awareness, whether it's the patient treatments or treatments in general. Hence, everybody has to adapt to the new evolution of health care.
Pharmaceutical companies have to be innovative and private sector players have to fill in certain gaps in the value chain of health care to be able to address patient desires, patient needs.
Patients are now looking for the best option and they want pharmaceutical companies to be prompt on that.
The e-commerce industry in the GCC region is growing by 35-40% and has been for the past few years. This makes this region one of the fastest-growing markets worldwide. E-commerce represents less than 4% of retail so the potential for upside is tremendous. Technology and AI is enabling us to cater to the customer, to the power of one.
Using digital disruption creates an infrastructure and entire supply chain that is more efficient, that's more cost-effective and that's much more disruptive, and ultimately the customer wins at the end and the company that's able to create these enablers will be at the forefront.
What gives you resilience?
Culture, talent and ESG goals.
When you follow protecting your environment and your society, and prioritise them in a stage of uncertainty or ignorance, you are able to survive and ward off these difficult situations.