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Title : Saudi Arabia Issues Ultimatum To Foreign Companies To Bring Their Regional HQ Offices Into The Kingdom If They Want Government Contracts
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Saudi Arabia Issues Ultimatum To Foreign Companies To Bring Their Regional HQ Offices Into The Kingdom If They Want Government Contracts

Cars drive past the King Abdullah Financial District in the Saudi capital Riyadh on 18 December 2018 (Reuters) 

Middle East Eye: Saudi Arabia issues ultimatum to foreign companies to move regional HQs to kingdom 

The announcement, which comes amid an economic slump in the kingdom, could create friction with UAE 

Saudi Arabia is to stop signing contracts with companies whose regional headquarters are based outside of the kingdom, the official Saudi Press Agency (SPA) reported on Monday. 

Citing an unnamed source, the SPA said the bold new policy would come into effect in the region’s largest economy from 2024. 

"Saudi Arabia intends to cease contracting with companies and commercial institutions with regional headquarters not located in the kingdom,” it said. 

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 More News On Saudi Arabia Issues An Ultimatum To Foreign Companies To Bring Their Regional HQ Offices Into The Kingdom If They Want Government Contracts 

Saudi Arabia won't work with foreign firms without regional HQ from 2024 -- Reuters 

Saudi Arabia to stop giving contracts to firms having regional headquarters outside Kingdom -- Saudi Gazette 

‘Dramatic and risky’ — and a shot at Dubai? Saudi Arabia issues bold business ultimatum to pull regional HQ offices into the kingdom -- CNBC 

Saudi Arabia’s ‘Project HQ’ stirs competition with Dubai -- Al Jazeera 

Analysis: Saudi Arabia eyes Dubai's crown with HQ ultimatum -- Reuters

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