700 global HQs in Saudi Arabia reflect economic appeal, robust prospects: Cabinet

A cabinet session 

The Saudi Cabinet, in a session chaired by Crown Prince Mohammed bin Salman today, Jan. 27, reviewed reports on completed and ongoing projects within the Kingdom’s comprehensive development plan, particularly those aimed at infrastructure and service quality for citizens, residents, and visitors.

Cabinet members commended the Housing Program for its rapid strides, raising citizen homeownership to 66.2% by the end of 2025, with the number of housing support beneficiaries surpassing one million.

They also emphasized that more than 700 international companies have chosen Saudi Arabia as their regional headquarters (HQs). This embodies the achievements made in infrastructure, technical services, and investment climate, reflecting the attractiveness and promising future of the Saudi economy.

Furthermore, the cabinet noted the recent opening of the new expansion at King Khalid International Airport (KKIA) in Riyadh and the inauguration of Al-Jouf International Airport as vital contributors to expanding air connectivity, improving passenger experience, and keeping pace with the economic and developmental momentum in line with the National Transport and Logistics Strategy under Saudi Vision 2030.

On another note, the cabinet issued several resolutions, including authorizing the energy minister, or his deputy, to discuss and sign with the Turkish counterpart an intergovernmental agreement regarding renewable energy plant projects.

A resolution ratifying a draft agreement between Saudi Arabia and Morocco on the mutual encouragement and protection of investments was also passed during the session.

Besides, Cabinet members agreed to authorize the Saudi Authority of Internal Auditors to discuss cooperation MoUs with the UK’s Institute of Internal Auditors and the New York Institute of Internal Auditors in the field of governance, risk, and compliance.

Moreover, the cabinet ratified the Copyright Law.