Money & BusinessSaudi Arabia
24 global companies to set up regional offices in Riyadh
A total of 24 international companies including PepsiCo, Tim Hortons, Bechtel, Bosch, and Boston Scientific have signed agreements with the Saudi authorities to set up their regional offices in Riyadh.
The efforts to attract regional offices of international companies come in line with the Riyadh strategy, which aims to elevate the Saudi capital to the ten largest city economies in the world by 2030.
It is expected that the establishment of regional headquarters by global multinational groups in Riyadh will contribute around SR70 billion to the national economy by 2030 through salaries, operating and capital expenditures of these companies, resulting in a growth in the local content across many important sectors.