- Sep 7, 2024
- 339
- 724
Hiya @gazdgazd11
I'm sure that @Amma Usman and @Andrei Radu would have more to add here, but just wanted to get my thoughts to you. This question is essentially about demonstrating commercial awareness and understanding how law firms make strategic business decisions. A good answer will depend on the specific firm you're applying to, as different firms have different international strategies. A strong response should first acknowledge the firm’s existing footprint before making a well-reasoned case for a new location.
I think your suggestion regarding Saudi Arabia makes good sense. There's also been plenty of commentary on why law firm expansion into Saudi Arabia is strategically beneficial. This article sets out various reasons for why Saudi Arabia has become particularly attractive to firms in recent years. Apart from economic growth in the region, it mentions other factors, including:
- Regulatory Reforms: The article mentions that, in 2024, Saudi Arabia introduced legislation facilitating the entry of international law firms. This essentially simplified the process for firms looking to establish a presence in the country.
- Economic Diversification: The article mentions Saudi Arabia's Vision 2030 plan, which aims to reduce dependence on oil by investing in sectors like technology, tourism, and infrastructure. This diversification creates a demand for legal services across various industries.
- Increased Deal Activity: The economic reforms have led to a surge in mergers, acquisitions, and public-private partnerships, providing ample opportunities for law firms to offer their expertise.
- Strategic Location: Many articles on law firms' entry into Saudi Arabia constantly highlight the strategic role such moves play in allowing firms to access the Middle East and North Africa more broadly.
- Competition: If the legal market is already saturated, breaking in might be difficult. For instance, when speaking to partners about this question during interviews, I've been told that they find it amusing when candidates say that they should open shop in Brussels and that's partly because Brussels is already a highly saturated legal landscape.
- Sectoral Strengths: Similarly, you should also approach the question by thinking of the firm’s key sectors. A firm with a strong presence in financial services may prioritise major financial hubs, while one focused on energy or infrastructure might look to emerging markets with significant investment in these sectors.
- Regulatory Environment: Some countries restrict foreign law firms from practising local law, which could limit the firm’s ability to operate effectively.
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