MEES: Bernhard Hartmann, Saji Sam, Volker Weber and Bruno Sousa on maximizing local employment and boosting overall economic growth.

Oliver Wyman Partners Bernhard Hartmann, Saji Sam, Volker Weber and Principal Bruno Sousa discuss the Middle East’s need to decrease dependence on oil and  maximize local employment to boost economic growth. The article highlights successes of Saudi Arabian oil company Aramco in replicating the Norwegian localization model, especially as the country’s own economy was largely dependent on oil, much like many of those in the Middle East. Successful localization plans need to be sustainable and staggered over time, to ensure effective technology transfer and sufficient preparedness of the workforce and local supply chain.

The write-up appeared in the subscription-based weekly MEES and discusses the need for greater localization in Middle Eastern economies to boost sustainability and growth, while also  recommending a case study that can be replicated successfully in the region