“We would want to see the companies having a major headquarters office with executive staff; their C-suite being here; operations in other countries reporting to it; and support functions, whether it’s training, product development, consolidation of regional operations, all taking place within their regional headquarters. A superficial nameplate saying ‘this is the regional headquarters’ will not fly.”
-Khaled Al-Falih, Minister of Investment, regarding Saudi Arabia’s recent announcement that by 2024 all international companies would be barred from doing business with “agencies, institutions, and funds owned by the government” unless their regional headquarters were located in the Kingdom. [Consultancy ME]
