The local headquarters of foreign companies create thousands of jobs – Saudi News

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Two economists confirmed that limiting government contracts to companies that have regional headquarters in Riyadh from 2024, will be a catalyst for hundreds of companies to open their headquarters in the Kingdom, and major companies will be among them, and the decision will have a great impact on raising the rate of economic growth in addition to raising the number of expertise and competencies in various sectors In the Kingdom, the decision will be reflected positively, in the form of creating thousands of jobs for citizens, transferring expertise, and localizing knowledge, and it will also contribute to the development of local content.In this context, the economist Nasser Al-Qafari said that the decision to limit government contracts to companies that have regional headquarters in Riyadh from 2024, will be a catalyst for hundreds of companies to open their headquarters in the Kingdom, and large companies will be among them, and the decision will have a great impact on raising the rate of economic growth in addition To raise the number of expertise and competencies in the various sectors in the Kingdom, and the decision will be reflected positively, in the form of creating thousands of jobs for citizens, transferring expertise, and localizing knowledge, as it will contribute to developing local content and attracting more investments to the Kingdom. It will enable it to explore many promising investment opportunities in the Kingdom, on top of which are tourism investment opportunities in the Kingdom.

While Dr. Osama Fallal stated that the decision to limit government contracts to companies that own regional headquarters in Riyadh from 2024 will be a catalyst and motivation for many companies to start launching business in the Kingdom, which will create huge job opportunities. Dr. Falal stated that opening regional offices for major companies in Riyadh will increase the presence of labor expertise, increase economic growth, and create major investment opportunities between Saudi companies and major international companies working to open regional offices in the Kingdom.







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