The GCC remains an exceptionally strong market for the ICT sector, as ICT adoption has been stimulated by strong government expenditure on state-of-the-art IT infrastructure and technologies as well as sustained investments by business organizations on new technologies and IT-based solutions, the CEO and president of AlFalak Electronic Equipment & Supplies Co. said. Ahmed Ali Ashadawi, CEO and president, AlFalak, said “going into the final half of 2009, AlFalak remains firmly on track to achieve our revenue target of SR500 million. The company's growth in the midst of a global economic downturn has given us the upper hand in terms of accelerating our expansion initiatives and exploring new business prospects. This year's impressive sales performance likewise puts us in a favorable position to further grab more market share once the economy rebounds as we have made strategic investments in potentially high-growth areas across the GCC and in other regional markets.” AlFalak Electronic Equipment & Supplies Co - a leading provider of technology-based solutions to the Middle East, is targeting revenues to grow by more than 11 percent to reach SR500 million by the end of 2009. The SR150 million technology solutions firm further revealed that it will invest up 20 percent of its total asset value to sustain its aggressive expansion program across the Gulf region, while gradually establishing its presence in other high-growth markets such as India and the US. “Moreover, we believe that AlFalak's strong revenue results reflect the company's commitment to provide high-quality services and deliver greater value to our customers in the region,” added Ashadawi. As part of its continuing efforts to maintain its leadership in the region's ICT sector, AlFalak is expanding its IT storage capacity in the Kingdom, while the company will also build residential facilities for Saudi employees. AlFalak has also earmarked new investments for human resource development, aiming to reinforce its current workforce of over 900 employees spread across Saudi, Kuwait, Bahrain, UAE and Sudan. AlFalak has consistently been ranked as one of the top 100 companies in Saudi Arabia for four consecutive years. The company delivers enterprise IT solutions through a network of offices and trained technical personnel throughout the Middle East. AlFalak's portfolio of business partnerships include leading solution and software providers, hardware and consumable manufacturers, business consultancy firms and implementation specialists. Corollary to this, Booz & Company said in a report that as GCC countries seek ways to diversify their economies, information and communications technology parks (ICT parks) must continue to play a central role in helping to nurture the fledgling technology industries by building pools of local talent. The report noted that GCC countries are full of economic potential, but need more mature technology industries to thrive. Karim Sabbagh, partner, Booz & Company, said: “So far, the GCC's ICT parks have focused on either driving ICT sales or incubating ICT development - but, usually, not both. To develop a grassroots ICT industry and to change the inefficient pattern of relying on transient foreign talent, the GCC will need to create self-sustaining ICT parks - parks that combine the characteristics of both commercial (those concentrated primarily around ICT sales) and incubator ICT parks (those concentrated around research and development). These next-generation ICT parks will create value through research and incubation of ICT projects and will also capture value by commercializing ICT products and services. They will have lifestyle facilities - such as housing, schools and retail and entertainment complexes - that will help them attract and retain the companies and the talent whose early-stage development they are helping, and ensure the development of a local ICT sector.
