The Kingdom of Saudi Arabia is currently working on many regulatory amendments with the aim of developing an investment environment that incubates global investments. in the world by 2030.
In the Middle East and North Africa, there are regional headquarters for approximately 346 international companies, of which the Kingdom’s share is completely disproportionate to the revenues and profits that these companies achieve from the Saudi market, with rates ranging from 40% to 80% of their total regional sales.
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Factors that support the presence of the regional headquarters of international companies and their executive management near their partners in the Kingdom of Saudi Arabia:
The Kingdom’s regional and global standing
Membership of the Group of Twenty
The magnitude of the Saudi economy and its giant investment opportunities
The purchasing power of the Kingdom
Objectives of the headquarters attraction program:
– Increase the percentage of local content
– Reducing any economic leakage
– Development of new sectors
– Create thousands of new quality jobs
– Raising the level of services in the city of Riyadh
Benefits of moving the headquarters of these companies to Riyadh:
Contribute to facilitating procedures and decision-making
A better understanding of market needs
Expanding investment in the Saudi market
Qualifying young Saudi leaders to work in these headquarters
Attracting headquarters will contribute to the national economy with a value of 61 to 70 billion riyals by 2030
The decision applies only to companies that submit bids directly with the government of the Kingdom of Saudi Arabia or economic entities wholly owned by them, directly or indirectly.
Indeed, 24 international companies have signed agreements to establish major regional offices in Riyadh, including PepsiCo, Schlumberger, Deloitte, PwC, Tim Hortons, Bechtel, Bosch, and Boston Scientific. And others, in the presence of His Excellency the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih, and His Excellency the CEO of the Royal Commission for the City of Riyadh, Mr. Fahd bin Abdul Mohsen Al-Rasheed.
The Saudi Lawyers Group provides investors with all legal services related to the establishment of companies in the Kingdom of Saudi Arabia, including carrying out all procedures for establishing companies in Saudi Arabia and obtaining the necessary licenses, procedures for registration in the commercial registry, preparing, drafting and publicizing companies’ articles of incorporation and articles of association, in addition to regulating the relationship between the company and employees. By preparing the company’s internal regulations, preparing employment contracts for employees, and representing companies before all judicial and governmental authorities.
To request legal support, we recommend to you the office of Al Othman Lawyers and Consultants for its specialization in this field.
And for free legal advice, do not hesitate to contact us at: 535008888
