540 Companies Chose To Open Regional Headquarters In Saudi Arabia, Says Khalid Al-Falih

Saudi Investment Minister Khalid Al-Falih revealed on Tuesday that the number of companies with regional headquarters in Saudi Arabia has reached 540, an increase from the target number of 500 in 2030.

Al-Falih added during the "Future Investment Initiative" in Riyadh today, "The goal was 500 headquarters by 2030, and I am pleased to announce that we have reached 540 headquarters by this morning," indicating that some of them are large multinational companies.

The eighth edition of the Future Investment Initiative kicked off today, Tuesday, and will be held from October 29 to 31 at the King Abdulaziz International Conference Center in Riyadh, under the slogan “Infinite Horizons... Investing Today to Shape Tomorrow.”

The Minister of Investment confirmed that the Saudi GDP has increased by 70% since the launch of Vision 2030, despite the political unrest in the Middle East, indicating that foreign direct investment in the Kingdom is ahead of the agenda we set last year, which amounted to $26 billion, noting that Saudi Arabia is the center of the Middle East economy, where the factors driving growth are more than the obstacles.

Khalid Al-Falih added during his participation in a dialogue session on the sidelines of the conference that Saudi Arabia recorded 100 million tourist visits last year, while foreign investor licenses increased 10 times compared to what they were before the vision.

The initiative is expected to attract more than 5,000 guests and 500 speakers on a variety of topics related to the current era, including more than 200 sessions covering topics such as economic stability, equitable development, and combating climate change, in addition to artificial intelligence, innovation, health, and geopolitical issues.

Richard Attias, CEO of the Future Investment Initiative Foundation, stated that the eighth edition will achieve a record number, as it will witness the announcement of international deals worth $28 billion in various sectors, which will include food, cybersecurity, renewable energy, entertainment, sports, tourism, and others, not only in Saudi Arabia, but in various countries of the world.

Through its eighth annual conference, the Future Investment Initiative Foundation will enhance discussions on how investment can act as a catalyst for a prosperous and sustainable future, and expand the horizons of what is possible for humanity. This year’s eighth edition will focus on new strategies for confronting and addressing global challenges, the role of Africa in the global economy, enhancing the role of women in leadership positions, internal structures, and the practical aspects of investments.