Via Pramod Kumar in agbi.com: The number of companies setting up their main regional base in the kingdom has reached 571, primarily in the industrial sector, Khalid Al Falih told Asharq Business, an Arabic-language financial portal. The Gulf state, he said, has moved beyond the HQ goals and is working to get global companies to contribute to Saudi Arabia’s economic development. The regional HQ programme is part of plans to make Riyadh one of the world’s 10 largest city economies by 2030 and increase its population to as many as 20 million. These companies will be exempt from corporate tax for 30 years, in addition to relaxed requirements for Saudisation – the programme to increase employment of Saudi nationals – and offering work permits for the spouses of company executives.
