The establishment of the Riyadh office aligns with Saudi Arabia's Vision 2030, aiming to diversify the economy and foster digital transformation. By positioning itself directly within the Kingdom, Panasonic seeks to better serve the evolving demands of Saudi consumers and businesses, offering cutting-edge technology and innovative solutions tailored to local needs.
Hiroyuki Shibutani, CEO of PMMAF, emphasized the significance of this expansion, stating, "The opening of our Riyadh office is a testament to Panasonic’s long-term commitment to Saudi Arabia. The Kingdom is a strategic market for us, and having a direct presence here allows us to work more closely with our distributors, strengthen our supply chain, and provide an enhanced customer experience."
This move is not Panasonic's first foray into strengthening its presence in Saudi Arabia. In May 2023, the company expanded its distribution network by partnering with local entities such as Ahmed Abdulwahed Trading Co. and Modern Electronics Company. These alliances were aimed at meeting the growing demand for Panasonic's products, leveraging the local partners' market knowledge and extensive networks.
The Riyadh office will serve as a central hub for Panasonic's operations in the Kingdom, facilitating streamlined distribution and optimized after-sales services. This setup is designed to ensure a seamless, customer-centric experience, enhancing service response times and strengthening relationships with both consumers and business clients.
Panasonic's diverse product portfolio in Saudi Arabia encompasses home appliances, audiovisual solutions, business equipment, and advanced air conditioning systems. With the new office, the company plans to introduce an expanded range of products, ensuring that Saudi customers have access to the latest innovations that enhance daily life and business efficiency.
The strategic location in Riyadh also positions Panasonic to capitalize on the Kingdom's robust economic growth. Saudi Arabia has been recognized as one of the world's fastest-growing economies, driven by pro-business reforms and initiatives under Vision 2030. By embedding itself more deeply in this dynamic market, Panasonic aims to contribute to and benefit from the nation's ongoing development.
In addition to its consumer-oriented initiatives, Panasonic is making strides in the aviation sector within Saudi Arabia. Earlier this month, Panasonic Avionics Corporation announced a landmark 10-year agreement with Riyadh Air, the Kingdom's premium global airline. This partnership involves providing in-flight entertainment maintenance support for Riyadh Air's fleet of Boeing 787 Dreamliners. As part of this agreement, Panasonic will establish a new line maintenance station in Riyadh, further solidifying its investment and presence in the region.
Tom Eskola, Vice President of Panasonic Technical Services, highlighted the importance of this collaboration: "We are thrilled to join forces with Riyadh Air on this long-term agreement. Our Total Care Package service is set to provide proactive, comprehensive support, minimizing downtime and ensuring consistently exceptional operational performance and passenger experience."
This venture into the aviation sector complements Panasonic's broader strategy of integrating advanced technology solutions across various industries in Saudi Arabia. By offering specialized services and establishing critical infrastructure, Panasonic is positioning itself as a key player in the Kingdom's technological advancement.