Saudi Arabia sets January 2024 as deadline to move regional HQ to Riyadh: Al-Jadaan

25/10/2023 Argaam
Minister of Finance Mohammed Al-Jadaan

Minister of Finance Mohammed Al-Jadaan

Saudi Arabia will set the deadline for international companies to move their regional headquarters (HQ) to Riyadh by January 2024, otherwise they will lose their agreements with the government, Reuters reported, citing Minister of Finance Mohammed Al-Jadaan.

 

Further, a tax framework had been agreed, he added without more details.

 

Separately, Al-Jaddan said cash transfers from the government to the Public Investment Fund (PIF) were “very limited” and were disbursed from surplus, noting that there were no imminent plans for any cash transfer to the PIF.

 

Al-Jadaan also said he did not take discussions on BRICS membership in any political way.

 

The Kingdom will announce if and when it will accept an invitation to join the bloc, he added.

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