Outlook 2017: Bill Bodie (MEA EVP) – Parsons
Despite the market headwinds, we see good opportunities for growth in 2017. Innovation and diversification are key.
The GCC countries effort to diversify their economies away from a disproportionate dependence on oil and gas revenues and their focus on infrastructure development for tourism, trade, and finance presents opportunities for Parsons to provide solutions in multiple sectors that are not reliant on oil prices.
We are equipped with the right people, processes, and technologies to support the government diversification efforts, and we have vast experience with a variety of services in many diversified markets such as transportation, leisure, housing, and security.
Several projects have already been put on hold. However, because of our extensive track record on major projects in the region, we have honed our value engineering offerings, so we can drill down on the services previously provided and identify savings for our customers as they move forward on projects. Other projects are proceeding more slowly as governments cut or stretch out capital spending.
Infrastructure spending is being scrutinised heavily by government agencies, and low-price only contract awards are now becoming more frequent. While we always look for ways to field competitive cost structures, the environment today is that the lowest price is more important relative to everything else.
We can compete on price, however, we are not going to race to the bottom just to win work if we dont think we can deliver the quality that is part of the reputation and brand value that Parsons enjoys in the region, and the reason why we have built market share.