44 global companies received their regional headquarters licenses to operate in Saudi Arabia today, Wednesday, as part of the global companies' regional headquarters attraction program overseen by the Ministry of Investment and the Riyadh City Royal Commission.
The delivery of the regional office licenses to representatives of global companies took place on the sidelines of a special dialogue session of the program, in which both Minister of Investment Eng. Khaled Al-Falih and the Executive President of the Royal City of Riyadh Authority Fahd bin Abdul Muhsin Al-Rashid participated, during the activities of the second day of the fifth edition of the Future Investment Initiative.
The Regional Headquarters is a subsidiary of a global company, established in accordance with the regulations applicable in the Kingdom of Saudi Arabia for the purposes of supporting, managing, and strategically guiding its branches and affiliated companies operating in the Middle East and North Africa region.
Commenting on this occasion, Minister of Investment Eng. Khaled Al-Falih said: \u201cI am pleased to witness the joining of this large number of companies to the Global Headquarters Attraction Program for World-Class Companies, which shows that Riyadh is a global city that attracts business and is the preferred investment destination for investors from around the world. These companies have recognized the exceptional opportunities offered to them by Vision 2030, and they will soon reap the benefits. This comes two weeks after the launch of the National Investment Strategy for Saudi Arabia, which will provide more opportunities through a series of initiatives designed to improve the business environment in the Kingdom.\u201d.
He added: \u201cOver the past years, we have witnessed encouraging reactions from investors that led to an increase in the flow of foreign direct investment into the Kingdom\u2019s economy. We expect a greater presence of investors that will expand the volume of investment in the local market.\u201d.
For his part, the Executive President of the Royal Commission for the City of Riyadh, Fahd bin Abdulmohsen Al-Rasheed, said: \u201cThe participating companies within the Global Headquarters Attraction Program for World-Class Companies will bring global expertise that will work and live with their families in the Kingdom, contributing to the development of research and innovation fields, which, in the medium and long term, will provide a supportive environment that transfers knowledge and expertise to young national talents who will work with these experiences and develop their skills.\u201d His Excellency the Executive President added: \u201cThe program will contribute approximately 67 billion riyals (18 billion US dollars) to the local economy and will provide approximately 30,000 new job opportunities by 2030.\u201d.
Furthermore, every job created at the regional headquarters will generate at least two jobs in the core economy, and the program will provide promising opportunities for national talent to work in global companies and enable them to work in new sectors, contributing to the preparation of a young leadership generation working in the management and operation of those headquarters.
He added, saying: \u201cWe are witnessing a rapid transformation day by day in our capital to become a leading regional hub for global companies. We will continue to work towards achieving our vision of doubling the city\u2019s population and increasing its economic impact to three times what it is now by 2030. To achieve this, we are witnessing the implementation of more than 80 projects in the city that will contribute to making Riyadh one of the top 10 urban economies in the world.\u201d.
The city of Riyadh is witnessing the development of a number of large projects that will contribute to enhancing the city\u2019s position in terms of the standard of living globally, including the King Abdulaziz Public Transport Project in Riyadh, the King Salman Park, Riyadh Green, Riyadh Art, and the Sports Track Project, and the Qadiza Project. Sustainability is also an integral part of the Kingdom\u2019s transformation, especially after the announcement of the Riyadh Strategy for Sustainability at the sidelines of the Saudi Green Initiative Forum, where it will inject 346 billion riyals (92 billion US dollars), including 150 billion riyals (40 billion US dollars), to stimulate the private sector to invest in green initiatives and projects in the city.
Amid these rapid transformations taking place in the capital Riyadh, the airport infrastructure is being developed, which will add new regional and international destinations for global companies.
This transformation and rapid growth are expected to lead to an increase in demand for services and the creation of new jobs in various sectors. The Council of Ministers recently approved a set of recommendations to enable international schools to establish and operate in Riyadh within the International Schools Attraction Program, which is part of the Global Headquarters Attraction Program. Last September, two international schools joined this program, namely King's College and SEK International School, which have already welcomed more than 200 students so far.
In this context, Minister of Education Dr. Hamad bin Mohammed Al-Sheikh said: \u201cThe Ministry of Education continues its efforts with the support of the wise leadership \u2013 may Allah preserve it \u2013 to achieve the objectives of the Kingdom Vision 2030 in providing modern and distinguished curricula that contribute to developing a world-class educational system, where the International Schools Attraction Program provides an added value for the exchange of experiences and expertise between our distinguished national forces in the education sector and specialized international cadres. These schools possess sufficient flexibility, ensuring the provision of a stimulating educational environment and achieving outstanding academic results, and providing a different educational journey for those students who wish to do so.\u201d.
In conclusion, the CEO of the Royal Commission for the City of Riyadh added: \u201cWe are determined to provide more investment opportunities, diversify the economy, and create new jobs for citizens. This is precisely what the program aimed to achieve by attracting regional headquarters of global companies to facilitate their entry into the local market and enjoy great opportunities for growth and expansion in the region\u2019s largest economy.\u201d.<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> 3<\/span> Minutes<\/span><\/span>Forty-four global companies received licenses for their regional headquarters to operate in the Kingdom of Saudi Arabia on Wednesday, as part of the program to attract regional headquarters of global companies overseen by the Ministry of Investment and the Royal Commission for Riyadh City. The regional headquarters licenses were presented to representatives of the global companies on the sidelines of a panel discussion dedicated to the program, attended by Minister of Investment Khalid Al-Falih, \u2026 Read more<\/a><\/p>","protected":false},"author":11,"featured_media":33509,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"amlak_video_sent":"","footnotes":""},"categories":[7785],"tags":[],"class_list":["post-33498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-riyadh-qassim"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":""}},"featured_image_urls":{"full":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/56-3-750x563-1.jpg",750,563,false],"thumbnail":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/56-3-750x563-1-150x150.jpg",150,150,true],"medium":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/56-3-750x563-1-300x225.jpg",300,225,true],"medium_large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/56-3-750x563-1.jpg",750,563,false],"large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/56-3-750x563-1.jpg",750,563,false],"1536x1536":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/56-3-750x563-1.jpg",750,563,false],"2048x2048":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/56-3-750x563-1.jpg",750,563,false],"trp-custom-language-flag":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/56-3-750x563-1.jpg",16,12,false],"event-thumbnail":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/56-3-750x563-1-300x200.jpg",300,200,true],"event-medium":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/56-3-750x563-1-600x400.jpg",600,400,true],"event-large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/56-3-750x563-1.jpg",750,563,false],"event-hero":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/56-3-750x563-1.jpg",750,563,false]},"author_info":{"info":["\u0623\u0645\u0644\u0627\u0643 \u0627\u0644\u0631\u064a\u0627\u0636"]},"category_info":"\u0645\u0646\u0637\u0642\u0629 \u0627\u0644\u0631\u064a\u0627\u0636 \u0648\u0627\u0644\u0642\u0635\u064a\u0645<\/a>","tag_info":"\u0645\u0646\u0637\u0642\u0629 \u0627\u0644\u0631\u064a\u0627\u0636 \u0648\u0627\u0644\u0642\u0635\u064a\u0645","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/33498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=33498"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/33498\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media\/33509"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=33498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=33498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=33498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}