Govt decision to not hire foreign firms without local headquarters has several positives: Al-Falih

15/02/2021 Argaam

Minister of Investment Khalid Al-Falih

Saudi Arabia’s decision not to give government contracts to any foreign company without regional headquarters in the Kingdom, will help provide thousands of job opportunities, according to Minister of Investment Khalid Al-Falih.

 

The decision will further help exchange expertise, develop local content and allure more foreign investments, Al-Falih added.

 

Saudi government announced, on Feb. 15, it would not contract any foreign company or commercial entity that has regional headquarters outside the Kingdom, starting from Jan. 1, 2024. The decision included all entities, establishments and funds affiliated to the government, Argaam reported.

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