Saudi Arabia welcomes multinationals to Riyadh
Saudi Arabia's move to license 44 companies to open headquarters has put the kingdom in competition with the United Arab Emirates regional business hub.
DUBAI — Saudi Arabia’s pavilion at Expo 2020 Dubai celebrated United Arab Emirates (UAE) Flag Day last week. UAE Flag Day is a yearly event on the UAE’s calendar and marks the first raising of the flag by its founder, Sheikh Zayed Bin Sultan Al Nahyan, in 1971.
A film demonstrating bilateral relations between the two countries was projected onto an exterior wall of the Saudi pavilion on an inclined mirror facade that turns into a projection screen at night.
A week before this neighborly regard, Saudi Arabia announced that 44 multinational companies would move their regional headquarters to the Saudi capital, Riyadh.
A number of these firms are based in the UAE and in Dubai in particular, which for some time has housed a variety of headquartered regional companies. Its proximity to Saudi Arabia has been a convenient gateway for multinationals to conduct business.
