Saudi Arabia Licensed 44 Companies To Establish Headquarters In Riyadh

Saudi Arabia has licensed 44 multinational companies including technology, food and beverages, consulting, and construction including Unilever, Baker Hughes, and Siemens to set up regional headquarters in its capital, Riyadh to push the state to become a regional commercial hub. 

The President of the Royal Commission for Riyadh City, Fahd-al-Rasheed has mentioned that among 44 companies some have already moved to Riyadh. The target was set at 480 companies by 2030 with the plans of making Riyadh the business hub of the kingdom. These establishments will help in providing employment opportunities and will add 67 billion riyals to its economy.