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Industry Report
Asia Pacific

Australia Defense and Security Industry Report

October 28, 2022

Australia’s newly elected Labour government has stated its commitment to the Defense spending plan created by the outgoing Liberal government in 2020. Under this plan Australia will see an investment of US$187B in the decade between 2020 and 2030. In the 2022-23 financial year Australia has slated US$33.2B for defense expenditures, a 7.4% increase from financial year 2021-22. 2022-23 marks the 10th year of real growth in defense expenditures and equates to slightly over 2% of Australia’s GDP. Australia’s recent investment in its defense sector has been spurred by its uncertain and relatively unstable geopolitical position in the Indo-Pacific, particularly with regards to the rise of China. There are many opportunities for Virginia companies to provide defense services to Australia. Many of those opportunities will be created by Australia’s investment it its cyber, maritime, and training sectors.

The Defense and Security in Australia report outlines market entry strategy for Virginia businesses looking to sell into the Australian defense market. It also provides an overview of current trends in the market, key government and industry players, and details government and defense sector procurement.

Industry Report
Latin and South America

ICT Industry - Brazil

May 18, 2022

As the largest country in South America by both landmass and population, Brazil faces unique challenges and opportunities for growth and innovation in the ICT sector. Brazil has been internationally recognized for the quality of its ICT solutions developed across several areas, including financial services, energy, agriculture, manufacturing, and e-government. In 2021, Brazil’s ICT sector grew by 18.3%, representing 6.9% of Brazil’s total GDP.
 
There are many opportunities for Virginia companies to provide ICT goods and services into Brazil. Many of those opportunities will be created by the deployment of 5G in Brazil in the coming years. By July 2022, there will be 5G coverage in all 26 capital cities in Brazil. By 2029, there will be 5G coverage to all Brazilian municipalities with more than 30,000 inhabitants.
 
This report on the Brazilian ICT Industry overviews Brazil’s ICT subsectors, the impact of COVID on Brazil’s digitalization efforts, 5G deployment, key ICT investments in the next three years, market trends, and regulatory frameworks. It also highlights ICT trade shows in Brazil.

Industry Report
Middle East

Defense Industry - Saudi Arabia

April 26, 2022

In recent years the Saudi market has been opening up as the Crown Prince, Mohammed bin Salman (MBS), seeks to reposition the Kingdom with less reliance on oil and a more sustainable economic foundation for his country. The process to open-up the Kingdom is not easy and has resulted in the largest transformation program that the world has ever seen. Under the banner of Vision 2030, MBS has set out the priorities for the Saudi Government for the next 10 years and these focus on the diversification of the economy away from oil and the creation of jobs for huge, youthful Saudi national population. We now see opportunities in all sectors that were previously difficult or impossible for foreign businesses to access such as in education, training, construction and the healthcare sector.
 
Defense, however, has always been ‘open’ to western suppliers and prime contractors to a certain extent. The security relationship between the Kingdom and the US (and other key defense partners such as the UK and France) has always been shored up by defense sector procurement contracts.
 
The Defense Industry in Saudi Arabia report outlines general market entry strategy for Virginia businesses looking to sell into the Saudi defense market. It also provides an overview of current trends in the market, including government bodies and defense news, and details government & defense sector procurement.

Industry Report
Africa

Africa Trends Report

November 9, 2021

Africa holds immense promise and untapped opportunities as a trading destination for Virginian exporters. Virginia exports to Africa in 2021 are projected to be 20% larger than in 2020 and 8% larger than in 2019. Africa is already moving toward being a large market, with a generally receptive business community. A large entrepreneurially motivated youth population is set to create changes not only to Africa but to the entire world.

This report provides Virginian exporters with a general overview of African developments as its place in the world economy shifts. This study describes major trends in Africa that will impact future trade opportunities: demographics; the growing middle class; culture shift; political changes; economic diversification; technology; and the African Continental Free Trade Area. It also provides a post COVID-19 outlook of Africa, where these key trends will play a role in economic recovery and growth.

Industry Report
Middle East

Saudi Vision 2030

September 8, 2021

In 2016, Saudi Arabia’s reform-oriented Crown Prince, Mohammed bin Salman, announced his plans for the Vision 2030 initiative, a strategic plan whose aim is to drive diversified economic and social growth as the Kingdom begins to shift away from its traditional dependence on oil. Naturally, the success of such a transformative initiative relies on the expansive growth and development of a variety of key industry sectors, which in Saudi Arabia’s case include infrastructure, healthcare, education, and defense.

This report, compiled by VEDP’s Saudi Arabian market-expert consultants, provides a detailed, insightful overview of the Saudi Arabian economic and social landscape in which Virginia companies can find ample opportunities for commercial success. As a decidedly youthful country with the Gulf’s largest population and economy, Saudi Arabia offers a promising market for Virginia companies looking to take advantage of the Kingdom’s burgeoning private sector growth under the Vision 2030 initiative.

Industry Report
Africa

Healthcare and Life Sciences in Africa

July 13, 2021

Africa’s projected economic and demographic growth provide an ideal environment for healthcare exporters of goods and services to forge strategic partnerships. The African market provides opportunities in various subsectors, ranging from pharmaceuticals and medical devices, digital health, health services, infrastructure, and skills development and training.

This report provides a general overview of African healthcare and life sciences sectors. It offers specific insights into the current trends in Africa’s healthcare industry with a focus on Southern, East, and West African countries. The report also contains a sub-sector analysis, providing insights into medical devices, pharmaceuticals, digital health, and skills development and training.