News

HFI has had the privilege of supporting many Canadian companies in the MENA region for over 20 years such as Cleantek Industries Inc, Inter-Casing Pressure Control Inc. and Lee Energy Systems Inc. and we are looking forward to attending the Society of Petroleum Engineers International Canadian Energy Technology Conference in Calgary on 12-13 March. 

The current tariff wars have meant that Canadian energy technology companies may be looking beyond the USA, and a key market could be the Middle East. The Middle East is underpinned by a GCC US$750bn energy market until 2030. Energy Industries Council (EIC) will be updating on the Saudi market during EIC KSA Connect during 18 February in Dammam.

Energy sector opportunities in the region are being show cased during a series of important events in the region which will bookend the Ramadan - Eid period.  Key events include EGYPES - Egypt Energy Show being held this week in Cairo following on from Zaywa reporting that international investors have noted Egypt’s efforts to stabilize its economy, including a flexible exchange rate. The IMF unlocked $1.2 billion after Cairo committed to tax reforms, privatization, and debt reduction. The economy is projected to grow 3.6% in 2025, up from 2.4% in 2024. Foreign reserves hit a record $47 billion, attracting portfolio investors back.

Following on after Ramadan and Eid, key events coming up are Middle East Energy, 7-9 April GOTECH 7 – 9 May, both in Dubai and OPES OMAN 12 – 14 May in Muscat.

CanExport SMEs delivered by the Canadian Trade Commissioner Service (TCS), Global Affairs Canada, in partnership with the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) has recently been brought to HFI’s attention and is a funding program designed to promote and enhance Canada's trade diversification efforts for SMEs.

It offers grants and contributions to Canadian companies to help them prepare for and establish a presence in international markets where they currently have little or no sales. The program focuses on export marketing activities of existing products and services in foreign markets.

CanExport SMEs supports exploratory activities as well as activities that contribute toward a longer-term strategy for internationalization. Each project can include up to 5 international markets to help companies accelerate their growth and pursue a regional expansion strategy.

CanExport SMEs is open to all industry sectors and eligibility criteria include:-
-Be an incorporated legal entity, limited liability partnership (LLP) or cooperative in Canada;
- Have fewer than 500 full-time equivalent (FTE) employees; and
-Have between C$100,000 and C$100 million in annual revenue.

More information can be found here