Relocation of 44 MNCs to Riyadh ‘just a beginning’: Al-Falih

Minister of Investment Khalid Al-Falih

Relocation of the headquarters of 44 multinational companies (MNCs) to Riyadh is “just a beginning” as part of Vision 2030 objectives, Minister of Investment Khalid Al-Falih told Argaam on the second day of the fifth edition of the Future Investment Initiative (FII). 

This number is expected to rise ten times over the next years, Al-Falih noted, affirming that the main goal is transferring knowledge and capacities to Riyadh rather than the number of companies in the city.

“Saudi Arabia’s ambition “has no ceiling”. We are looking for to making Riyadh the main headquarters of many companies, not only the regional one,” Al-Falih added. 

It is much better for businesses to relocate to Riyadh and leverage on the infrastructure, digital technology, finance and capital markets which will see growth in the city, and to be located close to decision-making centers, the minister concluded.