International Companies Move Regional Headquarters to Saudi Arabia

General view of Riyadh city. (Reuters file photo)
General view of Riyadh city. (Reuters file photo)
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International Companies Move Regional Headquarters to Saudi Arabia

General view of Riyadh city. (Reuters file photo)
General view of Riyadh city. (Reuters file photo)

As Saudi Arabia is seeking to encourage foreign companies to invest in the Kingdom, a survey conducted by Reuters showed that a number of international companies have already started moving their regional headquarters to the Saudi capital, while others have disclosed serious arrangements in this regard.

The Saudi government had informed foreign companies that as of 2024, they can only secure state contracts if they have local offices. The country has also launched economic and social reforms under its Vision 2030 plan to attract investment.

According to the Reuters poll, the US construction firm Bechtel said that it had established its regional headquarters in Riyadh to cover the six member states of the Gulf Cooperation Council (GCC), while the US technology company, CSG, announced that it would move its regional office from Dubai to Riyadh, but it would not close the Dubai office.

Reuters also revealed that German auto supplier Robert Bosch had signed a memorandum of understanding to explore potential business in Saudi Arabia. The company has an office in the Kingdom and a presence elsewhere in the region, including the United Arab Emirates, a spokeswoman for the company was quoted by the agency as saying.

Indian hotel startup Oyo said it would set up its regional headquarters in the Riyadh special economic zone - the King Abdullah Financial District - with several executives relocating there, as reported by Reuters.

The survey also noted that Investment firm Franklin Templeton would monitor the regulations to assess the approach it would follow, but would remain committed to conducting business in the Middle East.

A Deloitte spokeswoman was quoted by Reuters as saying that the company “has been operating in Saudi Arabia since 1950 and we are honored to be a strategic partner for the city on its journey to achieve its ambition under Vision 2030.”

In a statement, PwC’s Saudi Arabia country leader Riyadh Al-Najjar said the company would support the Kingdom’s transformation from its regional consulting headquarters in Riyadh.

Ahmed Jazzar, president of Boeing Saudi Arabia, was quoted by Reuters as saying: “We have over 2,200 people employed by various Boeing entities and joint ventures in the Kingdom. Boeing Saudi Arabia is a Saudi Arabian company with Saudi leadership and majority Saudi employee base. We are committed to the success of Vision 2030.”

Google told Reuters that its cloud computing unit would deploy and operate a Google Cloud region in Saudi Arabia. The technology division of state oil firm Saudi Aramco will establish a local reseller for the services, Google said, adding that the focus will be on serving businesses in the country, according to Reuters’ report.



AlUla Conference Amplifies Emerging Economies’ Global Voice

Saudi Finance Minister Mohammed Al-Jadaan (AlUla Conference for Emerging Market Economies)
Saudi Finance Minister Mohammed Al-Jadaan (AlUla Conference for Emerging Market Economies)
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AlUla Conference Amplifies Emerging Economies’ Global Voice

Saudi Finance Minister Mohammed Al-Jadaan (AlUla Conference for Emerging Market Economies)
Saudi Finance Minister Mohammed Al-Jadaan (AlUla Conference for Emerging Market Economies)

The “AlUla Conference for Emerging Market Economies” was held at a crucial time, as the world and the region face significant economic, technological, and geopolitical shifts.

From tariffs that will impact international trade to the resurgence of inflation concerns and the resulting delay in expected interest rate cuts, the strengthening dollar and its effects on emerging markets, to the growing geopolitical conflicts—these and other factors undoubtedly have far-reaching consequences for emerging economies.

The conference, organized by the International Monetary Fund (IMF) and the Saudi Ministry of Finance, “marks an important step towards creating a platform that amplifies the voices of emerging economies on the global stage, allowing them to express their views and needs," said Finance Minister Mohammed Al-Jadaan at the conclusion of the two-day event.

Sources told Asharq Al-Awsat that the conference is expected to have a significant impact on shaping future economic policies in emerging economies.

This was evident through in-depth discussions among finance ministers, central bank governors, policymakers, and leaders from both the public and private sectors in emerging economies, as well as international institutions.

The talks covered a range of topics, from economic growth and financial stability to sustainable development, inflation, debt, and proposed strategies to support growth in these markets.

Saudi Arabia’s hosting of the event underscores its prominent position and leadership role both regionally and globally. It also highlights the Kingdom’s commitment to supporting emerging economies and fostering cooperation among them.

Emerging economies undeniably play a key role in the global economy, driving 65% of global growth.
They continue to record strong growth rates, with the IMF projecting a 4.3% growth in 2025 and 4.2% in 2026, compared to a global economic growth of just 3.3% during the same period.

This translates into higher employment rates and increased consumer spending, positioning these economies as attractive destinations for investors seeking major opportunities.