The 44 multinationals that have moved their regional HQs operate in a variety of industries, including technology, food and beverage, consultancy, and construction. The licenses were issued at the 5th edition of the Future Investment Initiative (FII) in Riyadh.
Multinational enterprises now have direct access to the local economy, gaining financial and geographic opportunities, thanks to the regional headquarters attraction initiative. Saudi nationals, residents, and businesses gain directly and indirectly from the programme, which gives job possibilities for local people. Every job created as a result of the initiative is expected to indirectly produce 2.5 jobs in the base economy.
The licenses were issued at the 5th edition of the Future Investment Initiative
Khalid Al-Falih, Minister of Investment, said: “I am delighted by the number of multinational companies that have chosen to relocate to Riyadh, demonstrating that our national capital is becoming an increasingly attractive place to do business and developing into an investment destination of choice. 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.”
Every job created as a result of the initiative is expected to indirectly produce 2.5 jobs in the base economy
Fahd Al-Rasheed, CEO of the Royal Commission for Riyadh City (RCRC), said: “As an attractive city for MNCs, their employees, and their families to relocate, Riyadh is at the center of the regional headquarters attraction programme of multinational companies. We are undergoing a rapid transformation, as we look to double the city’s population and increase its economic footprint threefold by 2030. Four mega projects in the city are in progress to considerably advance quality-of-life rankings globally.”