Expat businessmen optimistic about life after COVID-19 lockdown

  • Date: 08-Jul-2020
  • Source: Arab News
  • Sector:Economy
  • Country:Saudi Arabia
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Expat businessmen optimistic about life after COVID-19 lockdown

JEDDAH: Expat business owners in Saudi Arabia hit by loss of sales during the coronavirus disease (COVID-19) lockdown period have expressed hope for the future as trading gradually gets underway again.

Many foreign-run firms operating in the Kingdom have been facing uncertain times due to curfews and restrictions put in place throughout the Kingdom to stop the spread of the virus.

But with the easing of precautionary measures allowing the resumption of commercial activities, expat business proprietors are looking forward with optimism to life after lockdown.

According to the World Investment Report 2020, published by the UN Conference on Trade and Development, investment had a key role to play in countering the long-term developmental impact of the COVID-19 pandemic on national economies.

Awais Misri, the Pakistani CEO of Ramsons Trading Co. in Jeddah, told Arab News: "Saudi Arabia has been more protected and insulated from the worst effects of the COVID-19 depression, so I see consumption rebounding at least initially and that's because Saudi Arabia's economy is generally robust.“

His company, which supplies hotels, caterers, restaurants, and cafes in Makkah and Madinah with food products, along with supermarkets, was heavily impacted by the lockdown but he was confident of bouncing back.

"People are tired of being at