Sunaina Rana / Emirates Business
The United Arab Emirates is one of the largest consumers of international and domestic brands across the region. The country is also considered a safe haven within the Middle East, with well-developed infrastructure and a tax-free environment. Gauging the immense scope in the industry, Saudi Arabiaâ€™s leading packaging company Goody is all set to collaborate with UAE-based GULFCO, to meet the demands of packaged food in the Emirates.
Khalid Temairik, General Manager of Goody, while sharing his views on the companyâ€™s latest venture, said, â€œThe UAE has the most dynamic food and beverage industry in the Middle East and Africa region, making it a natural progression for us.â€
â€œThere is also a vibrant urban sprawl with good retail channels, which allows us to introduce the brand to both modern and traditional retail ventures across the country,â€ added Temarik.
The company would launch their products ranging from pasta, tuna, peanut butter and canned corn. Goody identifies the country as the second most important economy in the GCC at AED16 billion witnessing a growth of 3 percent over last year for the FMCG sector.
â€œWeâ€™re looking forward to see the Goody brand introduced in almost 400 outlets immediately, with the potential to grow that to more than 11,000 retail outlets in the coming years. Our entry in the UAE is aimed to help grow our business from an SAR1 billion company, to a SAR2 billion company by 2020,â€ pointed out Temairik.
Goody claims the company has done a strong market research to comprehend the food habits of the consumer and with leverage partnership with GULFCO, they aim to fully integrate into the UAE market.
As the Emirates has the highest level of urban development in comparison to the other Gulf countries, with access to the most modern trade channels.
According to the reports, UAE has been offering good business opportunities to the manufacturers in the region, especially to the expatriates, who hold a strong community within the Emirates, accounting for more than 50 percent of the population.