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Turkish digital initiative to meet investors in Saudi Arabia

8 months ago

ome 80 global entrepreneurs have been invited to the event, co-organized by the Massachusetts Institute of Technology (MIT) and the Kingdom of Saudi Arabia. The event will allow startups to open up to Saudi markets.




Consubcon's Emrah İnanç will publicize the Subcontractor Bank app at the fair scheduled for March 5-7 in Mecca.

İnanç said he started developing the system in 2013 to bring multiple subcontractor construction and contracting companies on a single digital platform, creating a digital initiative with a high added value.




"Turkey has one of the most advanced construction sectors in the world. Turkish companies work in many international construction projects. We wanted to make use of this experience and merge it with contracting companies' potential," he said.

İnanç added that the group, on its way to becoming a global brand, has already carried out 80% of its work across the Middle East as of 2017.

"We have seen illegal persons and companies making unfair profits through workers, and we have seen a confiscation of workers' wages," İnanç said referring to the problems in the sector, including reports of the grave situation migrant workers often find themselves in.

"To solve this problem and remove all intermediaries in the process, we send all of the labor requirements to workers in the countries that we operate in, on a weekly and monthly basis," he said. "In this way, workers are not deceived about the hope of finding work, they do not pay fees to agencies or middleman and are not forced to leave their countries with no work."




He said the initiative had attracted great attention in the Middle East and other regions.

"Thus, we have now been invited to the StartSmart Conference," İnanç said. "We will introduce our projects and meet potential investors. We will have the opportunity to expand our initiative in the Middle East, as well as represent Turkey in the best way possible."