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Riyadh welcomes regional HQs of 44 multinational firms

Riyadh welcomes regional HQs of 44 multinational firms
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Riyadh – Mubasher: A total of 44 multinational companies have received licences to move their regional headquarters (HQs) to Riyadh, the Saudi Press Agency (SPA) reported on Wednesday.

The enterprises are from different sectors such as technology, food and beverage, consulting, and construction. The firms obtained the licences under the Regional Headquarters Attraction Program of Multinational Companies.

The programme aims to attract multinational companies and their current and future employees, as well as their families, to relocate to Saudi Arabia. It also provides direct and indirect benefits for Saudi nationals, residents, and businesses.

Saudi Arabia’s Minister of Investment, Khalid Al Falih, said: “This comes two weeks after the launch of Saudi Arabia’s National Investment Strategy that will further unleash the opportunities on offer through a series of game-changing initiatives designed to improve the Kingdom’s business environment.”

CEO of the Royal Commission for Riyadh City (RCRC), Fahd Al Rasheed, stated: “By 2030, the programme will contribute $18 billion to the local economy and create around 30,000 new jobs.”