<Forty-four international companies received their regional headquarters licenses to operate in Saudi Arabia on Wednesday, as part of the program to attract regional headquarters for global companies overseen by the Ministry of Investment and the Royal Commission for Riyadh City.
The handover of the regional headquarters licenses to representatives of international companies took place on the sidelines of a special panel discussion on the program, in which Minister of Investment Khalid Al-Falih and CEO of the Royal Commission for Riyadh City Fahd bin Abdul Mohsen Al-Rasheed participated, on the second day of the fifth edition of the Future Investment Initiative.
The regional headquarters is “I am delighted to see so many companies join the program to attract the regional headquarters of global companies, demonstrating that Riyadh is a global business magnet and the preferred investment destination for investors from around the world. These companies have recognized the exceptional opportunities provided by Vision 2030 and will soon reap the rewards. This comes two weeks after the launch of Saudi Arabia's National Investment Strategy, which will provide further opportunities through a series of initiatives designed to improve the Kingdom's business environment.”
He added: “Over the past years, we have witnessed encouraging investor feedback that has led to an increase in the flow of foreign direct investment (FDI) into the Kingdom's economy. We expect a greater investor presence that will expand the volume of investment in the local market.”
Fahad bin Abdulmohsen Al-Rasheed, CEO of the Royal Commission for Riyadh City, said: “The companies participating in the program to attract regional headquarters of global companies will bring global expertise that will work and live with their families in the Kingdom and contribute to the development of research and innovation, which in the medium and long term will create a supportive environment that transfers knowledge and expertise to young national talents who will work with these experts and develop their skills.”
Fahad bin Abdulmohsen Al-Rasheed, CEO of the Royal Commission for Riyadh City, said. His Excellency the CEO added: “The program will add about 67 billion riyals (US$18 billion) to the local economy and create about 30,000 new jobs by 2030.”
Each job created at the regional headquarters will generate at least two jobs in the primary economy, and the program will provide promising opportunities for national talent to work for global companies and enable them to work in new sectors, contributing to the development of a young leadership generation in the management and operation of these headquarters.
“Day by day we witness the rapid transformation of our capital city into a major regional hub for global companies,” he added. We will continue to work towards realizing our vision to double the city's population and triple its economic impact by 2030. More than 80 projects are underway in the city that will contribute to making Riyadh one of the top 10 economies in the world.“
Riyadh is developing a number of mega projects that will contribute to the city's global standard of living, including the King Abdulaziz Public Transport Project, King Salman Park, Riyadh Green, Riyadh Art, Sports Track, and Qiddiya. Sustainability is also an integral part of the Kingdom's transformation, especially after the announcement of the Riyadh Sustainability Strategy on the sidelines of the Saudi Green Initiative Forum, which will inject 346 billion Saudi riyals (US$92 billion), of which 150 billion riyals (US$40 billion) will incentivize the private sector to invest in green initiatives and projects in the city.
In the midst of these rapid transformations in the capital, airport infrastructure is being developed, which will add new regional and international destinations for global companies.<This rapid transformation and growth is expected to increase the demand for services and create new job opportunities in various sectors. The Council of Ministers recently approved a set of recommendations to enable international schools to settle and operate in Riyadh as part of the International Schools Attraction Program, which is part of the program to attract regional headquarters for global companies. In September, two international schools, King's College and SEK International School, joined the program, welcoming more than 200 students.
Minister of Education Dr. Hamad Al-Sheikh said: ”The Ministry of Education continues its efforts, with the support of the wise leadership, to achieve the objectives of the Kingdom's Vision 2030 in providing modern and distinctive curricula that contribute to the development of a world-class education system. The program to attract international schools provides added value to exchange expertise and experiences between our distinguished national capabilities in the education sector and specialized international cadres, and these schools have sufficient flexibility to ensure a stimulating learning environment, achieve outstanding academic results, and provide a different educational journey for those students who want it.“
In conclusion, the CEO of the Royal Commission for Riyadh City added: ”We are determined to provide more international schools: "We are determined to provide more investment opportunities, diversify the economy, and create new job opportunities for citizens, and this is precisely what the program to attract the regional headquarters of international companies aims to do by facilitating the entry of international companies into the local market to enjoy great opportunities to grow and expand in the largest economy in the region."
The handover of the regional headquarters licenses to representatives of international companies took place on the sidelines of a special panel discussion on the program, in which Minister of Investment Khalid Al-Falih and CEO of the Royal Commission for Riyadh City Fahd bin Abdul Mohsen Al-Rasheed participated, on the second day of the fifth edition of the Future Investment Initiative.
The regional headquarters is “I am delighted to see so many companies join the program to attract the regional headquarters of global companies, demonstrating that Riyadh is a global business magnet and the preferred investment destination for investors from around the world. These companies have recognized the exceptional opportunities provided by Vision 2030 and will soon reap the rewards. This comes two weeks after the launch of Saudi Arabia's National Investment Strategy, which will provide further opportunities through a series of initiatives designed to improve the Kingdom's business environment.”
He added: “Over the past years, we have witnessed encouraging investor feedback that has led to an increase in the flow of foreign direct investment (FDI) into the Kingdom's economy. We expect a greater investor presence that will expand the volume of investment in the local market.”
Fahad bin Abdulmohsen Al-Rasheed, CEO of the Royal Commission for Riyadh City, said: “The companies participating in the program to attract regional headquarters of global companies will bring global expertise that will work and live with their families in the Kingdom and contribute to the development of research and innovation, which in the medium and long term will create a supportive environment that transfers knowledge and expertise to young national talents who will work with these experts and develop their skills.”
Fahad bin Abdulmohsen Al-Rasheed, CEO of the Royal Commission for Riyadh City, said. His Excellency the CEO added: “The program will add about 67 billion riyals (US$18 billion) to the local economy and create about 30,000 new jobs by 2030.”
Each job created at the regional headquarters will generate at least two jobs in the primary economy, and the program will provide promising opportunities for national talent to work for global companies and enable them to work in new sectors, contributing to the development of a young leadership generation in the management and operation of these headquarters.
“Day by day we witness the rapid transformation of our capital city into a major regional hub for global companies,” he added. We will continue to work towards realizing our vision to double the city's population and triple its economic impact by 2030. More than 80 projects are underway in the city that will contribute to making Riyadh one of the top 10 economies in the world.“
Riyadh is developing a number of mega projects that will contribute to the city's global standard of living, including the King Abdulaziz Public Transport Project, King Salman Park, Riyadh Green, Riyadh Art, Sports Track, and Qiddiya. Sustainability is also an integral part of the Kingdom's transformation, especially after the announcement of the Riyadh Sustainability Strategy on the sidelines of the Saudi Green Initiative Forum, which will inject 346 billion Saudi riyals (US$92 billion), of which 150 billion riyals (US$40 billion) will incentivize the private sector to invest in green initiatives and projects in the city.
In the midst of these rapid transformations in the capital, airport infrastructure is being developed, which will add new regional and international destinations for global companies.<This rapid transformation and growth is expected to increase the demand for services and create new job opportunities in various sectors. The Council of Ministers recently approved a set of recommendations to enable international schools to settle and operate in Riyadh as part of the International Schools Attraction Program, which is part of the program to attract regional headquarters for global companies. In September, two international schools, King's College and SEK International School, joined the program, welcoming more than 200 students.
Minister of Education Dr. Hamad Al-Sheikh said: ”The Ministry of Education continues its efforts, with the support of the wise leadership, to achieve the objectives of the Kingdom's Vision 2030 in providing modern and distinctive curricula that contribute to the development of a world-class education system. The program to attract international schools provides added value to exchange expertise and experiences between our distinguished national capabilities in the education sector and specialized international cadres, and these schools have sufficient flexibility to ensure a stimulating learning environment, achieve outstanding academic results, and provide a different educational journey for those students who want it.“
In conclusion, the CEO of the Royal Commission for Riyadh City added: ”We are determined to provide more international schools: "We are determined to provide more investment opportunities, diversify the economy, and create new job opportunities for citizens, and this is precisely what the program to attract the regional headquarters of international companies aims to do by facilitating the entry of international companies into the local market to enjoy great opportunities to grow and expand in the largest economy in the region."
In conclusion, the CEO of the Royal Commission for Riyadh City added.
