The Saudi Minister of Investment, Khalid Al-Falih, on Saturday noted that 571 international companies, mainly industrial, have established regional HQ in Saudi Arabia.
During his participation in the Standard Incentives for the Industrial Sector event in Riyadh, Al-Falih said that Saudi Arabia is working to provide these firms with enablers and incentives through various programs, according to Sabq Newspaper.
Moreover, the Saudi Minister pointed out that the industry sector accounts for 30% of the foreign investment in the Kingdom. He added that Saudi Arabia generated SAR 142bn from investment in manufacturing industries during 9 months in 2024.
Minister Khalid A. Al-Falih highlighted that 571 global companies, primarily industrial firms, have relocated their headquarters to #SaudiArabia.@MISA #وطن_يصنع
#استثمر_في_السعودية pic.twitter.com/P850h4RQLj— Leaders MENA (@leadersmena) January 12, 2025
The Saudi Ministry of Industry and Mineral Resources, in partnership with the Ministry of Investment, announced the allocation of SAR 10bn to activate standardized incentives for the industrial sector.
In recent years, Saudi Arabia emerged as an attractive destination for global companies, with more multinational corporations establishing regional HQ in the Kingdom. These include Morgan Stanely, Citigroup, Goldman Sachs, Google Cloud, and Blackrock.
The selection of Saudi Arabia as a host for these companies’ regional offices is the product of the Kingdom’s Regional HQ Program, a strategic initiative which aims to strengthen Saudi Arabia’s status as a global investment hub in line with the broader diversification goals of Vision 2030.
The Program encourages companies to relocate their MENA HQ to Saudi Arabia by offering attractive incentives and investment opportunities in the Kingdom’s mega projects.