Foreign companies that want to participate in Saudi government investment opportunities need to move their headquarters to the kingdom by 2024, minister says.

Saudi agencies, institutions and funds owned by the government will all potentially cease awarding contracts to foreign companies, effective January 1, 2024 [File: Faisal Al Nasser/Reuters]

Saudi Arabia’s finance minister says Riyadh and Dubai “will have healthy competition” after announcing that foreign companies that want to participate in Saudi government investment opportunities need to move their headquarters to the kingdom by 2024.

Mohammed al-Jadaan told Reuters news agency by telephone on Monday that the two cities “will continue to complement each other” while stressing that “Dubai has its own competitive advantage”.

However, the finance minister added that international companies

Read More At Article Source | Article Attribution