Some sectors to be exempted from Riyadh HQ decision: Minister of Finance | ZAWYA MENA Edition
Minister of Finance Muhammad Al-Jadaan said that some sectors will be excluded from the decision to stop government agencies’ contracting with any foreign commercial company or establishment that has a regional headquarters in the region outside the Kingdom.
He pointed out that even though Saudi Arabia has the largest economy in the region, its share of regional headquarters is much smaller, accounting for less than five percent at present.
“The new decision aims to help the government’s endeavor to provide job opportunities to Saudi youth and attract foreign direct investment so as to diversify the Kingdom’s economy,” he added.
Meanwhile, Minister of Investment Khalid Al-Falih identified five main benefits from the decision to limit the government agencies’ contracting to international companies that have a regional center in the Kingdom.
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