New Delhi [India], September 23: Saudi Investment Minister – Minister Khalid al-Falih has invited Indian companies to Saudi Arabia in order to expand on the Lulu model.
The Invest-Saudi Conclave in New Delhi featured discussions about the LuLu Model and Yusuff Ali’s business strategy. Khalid Al-Falih, Saudi Minister of Investment, describes the chairman of the Lulu Group, Yusuff Ali M.A., as the brand model of the business achiever in KSA, and he is the greatest illustration of how to succeed in Saudi Arabia. Additionally, even for Saudis, Yusuff Ali serves as the finest role model and a good example of achievement. The Saudi minister’s response was during the India-Saudi Business Forum held in New Delhi on the occasion of the visit of the Saudi Crown Prince and Prime Minister Mohammad bin Salman to the state. The minister responded to a query from Union Minister Piyush Goyal regarding how Indians may be successful in Saudi Arabia.
”When I was the chairman of Saudi Aramco, Yusuff Ali always talked about the opening of Lulu Hypermarket in Aramco. Now there are about eight Lulu hypermarkets on the Aramco Campus alone. Lulu Group is currently targeting 100 hypermarkets in Saudi Arabia; it shows the success of hard work and determination, Minister Khalid Al-Falih said at the occasion. Saudi Investment Minister Khalid al-Falih has also invited Indian companies to Saudi Arabia in order to expand on the Lulu model. The minister also added that investment opportunities in Saudi Arabia are more extensive.
Lulu Group Chairman Yusuff Ali M.A. also attended the dinner hosted by the President of India, Droupadi Murmu, in honour of the Saudi Crown Prince.
Yusuff Ali Ma, Chairman of Lulu Group, has announced that his group will set up large shopping malls in India – Ahmedabad and Chennai. Speaking to ANI, Ali Said, “We are going to construct large shopping malls in Ahmedabad and Chennai to further expand our pan India presence. By end of this month, we are opening our shopping mall in Hyderabad.
Hyderabad will be the sixth city after Kochi, Thiruvananthapuram, Bengaluru, Lucknow and Coimbatore where the group has its presence.
*What an honour for the Indian Business community*
*Occasion:* InvestSaudi Business Conclave
*Location:* New Delhi
*Date:* 11 Sept 2023
What an apt *“success story”* example given by the Saudi Investment Minister *Khalid Al Falih* during the recent state visit to India by *HRH Sheikh Mohammed Bin Salman*, Crown Prince & Prime Minister of Saudi Arabia.
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