350 companies licensed to open regional HQ in Saudi Arabia

Khalid Al-Falih, Minister of Investment

As many as 350 international companies, so far, were granted licenses to open their regional headquarters (HQs) in Saudi Arabia, said Khalid Al-Falih, Minister of Investment.

Speaking at the Human Capability Initiative (HCI), the minister said the Kingdom is transforming comprehensively through Vision 2030 by turning its economy green, empowering citizens, and boosting business and international competitiveness.

He highlighted that new economic sectors like the digital economy, tourism, financial services, healthcare, pharmaceuticals, and biotechnology will immensely develop human capital, demanding diverse skills and a new global outlook.

He noted that capital follows the best opportunities, emphasizing that enhancing and sustaining human capabilities at the maximum is crucial, with skills being paramount as the human element is invaluable. Enhancing education is seen as the highest value investment.

Al Falih stressed the need for flexibility to adapt to significant global shifts like energy transition, automation, digital transformation, and supply chain changes, stating the unpredictable impact of these changes on investment, markets, and jobs, but expecting their effects to be significant.