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ZuluSOUTH KOREA: Osstem Implant, a prominent Korean dental equipment manufacturer, is contemplating the establishment of a dental medical equipment production facility in Saudi Arabia. The company formalized this potential venture by signing a Memorandum of Understanding (MoU) with the National Industrial Development Center under the Ministry of Industry and Mineral Resources of Saudi Arabia.
Collaborative Efforts and Expansion Plans
Under the terms of the MoU, Osstem Implant aims to contribute to the development of a dental medical equipment production facility and distribution infrastructure in Saudi Arabia. Additionally, the company is exploring the possibility of providing clinical education for local dentists.
This collaborative effort is a response to the Saudi Arabian government’s prioritization of Osstem Implant as a key business partner to stimulate the dental industry, presenting a business concept to the company in November.
Strategic Importance of Saudi Arabia
Osstem Implant CEO Eom Tae-kwan expressed the company’s strategic interest in Saudi Arabia, emphasizing the country’s role as a vital export hub for the Gulf countries.
The CEO cited logistical advantages as a key factor in considering local production. Establishing a direct sales organization in Saudi Arabia is anticipated to foster rapid local growth, with the potential for a local subsidiary to manage operations more effectively in collaboration with the Saudi government.
Osstem Implant’s Vision
CEO Eom affirmed Osstem Implant’s commitment to global expansion and responsiveness to market needs. The company views Saudi Arabia as a significant market and aims to enhance its presence in the region by establishing a local production facility. The potential move aligns with Osstem Implant’s objective of advancing dental healthcare globally and supporting the growth of the dental industry in strategic regions.
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