Arch Rashid Saad
Al-Rashid

Chairman of Al-Rashid Trading and Contracting Company

Nurturing our team’s talents

Rashid Saad Al-Rashid, Chairman, Al-Rashid Trading and Contracting Company, talks about the company’s competitive advantages and its ongoing mission to drive innovation, international cooperation and local skills and knowhow in Saudi Arabia.

“Vision 2030 has catalyzed a transformational shift in our cultural and economic landscape; it has embraced innovation, technology and a global perspective.”

Arch Rashid Saad Al-Rashid

    • How would you describe the business ethos guiding Al-Rashid Trading and Contracting Company (RTCC)?

      RTCC began as a family business established by the founders, the brothers Abdullah, AbdulRahman and I in 1957. It began in the construction and building materials trading segments. In the early 1970s, the company partnered with Rashed AbdulRahman Al-Rashed & Sons Company to form Al-Rashid Trading and Contracting Company (RTCC). Right from its inception, RTCC was driven by a vision to contribute significantly to the development of Saudi Arabia. Our journey has been guided by core values such as integrity, excellence and a strong commitment to our country’s progress.

      This vision extends beyond our immediate family to include all our employees whom we consider an integral part of the RTCC family. My experience as managing director profoundly shaped our approach, especially in nurturing and advancing our team's talents. Our philosophy is simple: find dedicated individuals, invest in their growth and let them grow with the company. This approach has fostered loyalty and dedication. We emphasize internal growth where expertise is recognized and nurtured into leadership roles. In this way we ensure both personal and corporate development. The longevity of our employees’ tenure is a testament to our supportive work environment and our commitment to their professional development. Stability, trust and a sense of belonging are all key to employee retention. We also incorporate international expertise for specific projects, which enhances our capabilities and allows our local team exposure to diverse skills and experiences.

      Financial stability is also a key aspect of our business, and we approach growth cautiously. We prioritize projects that align with our capabilities and values to ensure we maintain our standards of quality and reliability. Sustainability is an integral part of our operations and future planning. We are mindful of the economic landscape, particularly inflation and its implications. A rush to complete projects can lead to long-term issues; our approach is to do it right the first time. This philosophy extends to our commitment to environmental sustainability, community welfare and responsible business practices.

    • Vision 2030 has catalyzed a transformational shift in our cultural and economic landscape; it has embraced innovation, technology and a global perspective. This change is crucial for fostering a vibrant, diverse economy and ensuring the wellbeing and progress of our society. The entrepreneurial spirit among Saudi Arabia's youth is a positive indicator of our country's future. RTCC supports this vision by encouraging innovation, adapting to changing market needs and investing in the future generation.

      The construction sector is undergoing a significant and positive transformation that is expected to continue for the next seven to 10 years. While the influx of international companies introduces healthy competition and collaboration, it also brings challenges, especially in project delivery and time management. Vision 2030 is not just a destination, but an ambitious and ongoing journey. Our approach is to balance ambition with realism to ensure growth without compromising quality and integrity. The geopolitical landscape also plays a crucial role. Navigating this requires careful consideration and strategic planning.

    • Our business relationship with others, including Saudi Aramco, is a cornerstone in our strategy to integrate cutting-edge technology and expertise into RTCC. These collaborations — spanning from natural gas projects to water and electrical substations — are not just about executing large-scale projects, they are avenues for technological and knowledge transfer. Working with international companies on new initiatives demonstrates our commitment to enhancing local capabilities. We aim to increase Saudi participation in these projects to 70% in the next five to six years. These partnerships are crucial for empowering the younger generation that forms a significant part of our local demographic. Our approach is in line with Saudi Arabia's broader goals of developing a skilled, locally driven workforce. The vision is supported by King Abdullah's initiatives to educate Saudis abroad and bring back valuable skills to our nation.

    • RTCC excels in leveraging local expertise in infrastructure development while integrating global technologies and practices. Our partnership with international companies in renewable energy and desalination projects is a testament to this. In defense and technology, our collaboration combines advanced technology with our infrastructure capabilities. While — generally speaking — our successful international partnerships are not without challenges, our approach is always solution oriented. We focus on negotiation and problem solving rather than litigation. This methodology stems from our deep-rooted belief in the value of honesty, transparency and a strong reputation. Our aim is not just to complete projects but to build lasting relationships and credibility in the industry. This commitment to integrity and excellence is what we strive to pass on to the next generation to safeguard our company's legacy and contribute positively to the Kingdom's growth. Saudi Arabia is a land of opportunity that is rich in culture and potential. For those willing to embark on this journey, it promises many fulfilling rewards.