Ministry of Investment hands over 6 licenses to regional headquarters

Handing over ceremony of regional headquarters licenses

The Ministry of Investment presented regional headquarters licenses to six international companies at the Global Entrepreneurship Conference (GEC) 2022 held in Riyadh, Saudi Press Agency (SPA) reported today, March 28.

As part of the Regional Headquarter (RHQ) program, the ministry asserted its keenness to facilitate business start for investors in the Kingdom in a manner that ensures the development of new investment sectors and promotes investment environment’s growth in various targeted fields.

In October 2021, Royal Commission for Riyadh City’s CEO Fahd Al-Rasheed said that RHQ program, which is supervised by the commission and the Ministry of Investment, will contribute an additional SAR 67 billion to the national economy and providing nearly 30,000 job opportunities by 2030, according to data compiled by Argaam.

A total of 44 multinational companies (MNCs) announced relocation of their headquarters to Riyadh.

The licenses of the regional headquarters were handed over to the representatives of these international companies last October, during the fifth edition of the Future Investment Initiative (FII).