Friday, September 22, 2023
  • Login
198 Nigeria News
No Result
View All Result
  • HOME
  • VIDEO NEWS
  • BUSINESS NEWS
  • FEATURED NEWS
    • NIGERIA USA NEWS
    • NIGERIA EU NEWS
    • NIGERIA CHINA NEWS
    • NIGERIA UK NEWS
    • NIGERIA FRANCE NEWS
    • NIGERIA GULF NATIONS NEWS
    • NIGERIA INDIA NEWS
    • NIGERIA RUSSIA NEWS
    • NIGERIA ITALY NEWS
    • NIGERIA TURKEY NEWS
    • NIGERIA EGYPT NEWS
    • NIGERIA BRAZIL NEWS
    • NIGERIA THAILAND NEWS
    • NIGERIA PHILIPPINE NEWS
  • POLITICAL NEWS
  • MORE NEWS
    • NIGERIA TECHNOLOGY NEWS
    • NIGERIA MOVIE INDUSTRY
    • NIGERIA CRYPTO NEWS
    • NIGERIA AGRICULTURE NEWS
    • OVERSEAS JOBS NEWS
    • NIGERIA CONSTRUCTION NEWS
    • OVERSEAS SPONSORSHIP
    • 198TILG MEDIA TRAINING
    • NIGERIA IMMIGRATION NEWS
    • NIGERIA EDUCATION NEWS
    • NIGERIA VENTURE CAPITAL NEWS
    • NIGERIA JOINT VENTURE NEWS
    • NIGERIA UNIVERSITIES
    • NIGERIA MANUFACTURERS
    • NIGERIA BUSINESS HELP
    • NIGERIA PARTNERSHIP
  • ASK IKE LEWUMA
  • REGISTER NGO
  • CONTACT
  • HOME
  • VIDEO NEWS
  • BUSINESS NEWS
  • FEATURED NEWS
    • NIGERIA USA NEWS
    • NIGERIA EU NEWS
    • NIGERIA CHINA NEWS
    • NIGERIA UK NEWS
    • NIGERIA FRANCE NEWS
    • NIGERIA GULF NATIONS NEWS
    • NIGERIA INDIA NEWS
    • NIGERIA RUSSIA NEWS
    • NIGERIA ITALY NEWS
    • NIGERIA TURKEY NEWS
    • NIGERIA EGYPT NEWS
    • NIGERIA BRAZIL NEWS
    • NIGERIA THAILAND NEWS
    • NIGERIA PHILIPPINE NEWS
  • POLITICAL NEWS
  • MORE NEWS
    • NIGERIA TECHNOLOGY NEWS
    • NIGERIA MOVIE INDUSTRY
    • NIGERIA CRYPTO NEWS
    • NIGERIA AGRICULTURE NEWS
    • OVERSEAS JOBS NEWS
    • NIGERIA CONSTRUCTION NEWS
    • OVERSEAS SPONSORSHIP
    • 198TILG MEDIA TRAINING
    • NIGERIA IMMIGRATION NEWS
    • NIGERIA EDUCATION NEWS
    • NIGERIA VENTURE CAPITAL NEWS
    • NIGERIA JOINT VENTURE NEWS
    • NIGERIA UNIVERSITIES
    • NIGERIA MANUFACTURERS
    • NIGERIA BUSINESS HELP
    • NIGERIA PARTNERSHIP
  • ASK IKE LEWUMA
  • REGISTER NGO
  • CONTACT
198 Nigeria News
No Result
View All Result
Home NIGERIA GULF NATIONS NEWS

Saudi says 44 global firms to set up regional HQs in Riyadh | The Guardian Nigeria News

by 198 Nigeria News
October 27, 2021
in NIGERIA GULF NATIONS NEWS
A A
0
Saudi says 44 global firms to set up regional HQs in Riyadh | The Guardian Nigeria News
Share on FacebookShare on Twitter

[ad_1]

Saudi Arabia said Wednesday it has licensed 44 international companies to establish regional headquarters in Riyadh, competing with Gulf neighbours, particularly Dubai, for the position of regional business hub.

In February, the oil-rich kingdom issued an ultimatum to foreign firms that those seeking state contracts must have their Middle East headquarters in the country by 2024.

The ultimatum was seen as a direct challenge to Dubai, which has long dominated as the region’s business hub, against the backdrop of Saudi efforts to diversify its oil-reliant economy.

“Forty-four companies from various sectors and countries have signed agreements to move (their regional headquarters) and have obtained final licenses,” Investment Minister Khalid al-Falih told AFP on the sidelines of the Future Investment Initiative (FII) conference in Riyadh.

He did not disclose the names of the firms.

“We have a short-term goal to reach up to 400 or 500 companies, but there is no cap,” added Falih.

Saudi Arabia will offer companies incentives, such as zero percent corporate tax for 50 years, a 10-year waiver from the state’s “Saudization” policy to reserve jobs for Saudis and “preferential” treatment in government contracts, according to a document seen by AFP.

“The direct and indirect benefits from the presence of companies (in Saudi Arabia) amount up to 170 billion riyals ($45 billion),” said Falih.

Saudi officials are putting the finishing touches to launch the King Abdullah Financial District (KAFD), a multi-billion-dollar project announced in 2006, with many companies expected to be based there.

While some experts believe Saudi Arabia, the Arab world’s largest economy, is directly competing with Dubai, Falih said it was about “integration” with the emirate.

“If there is competition, it is a creative competition that is beneficial to both parties. Everyone will benefit from growth and openness,” he said.

Falih said that the United Arab Emirates, which is made up of seven emirates including Dubai, will also benefit from the kingdom’s growth.

“In the UAE, they are trailblazers and successful, and their success and brilliance will continue in many areas, including in the field of attracting companies.”



[ad_2]

Source link

Tags: firmsGlobalGuardianHQsNewsNigeriaregionalRiyadhSaudiSet
Share196Tweet123

Related Posts

Chad rebels return to peace talks | The Guardian Nigeria News

Chad rebels return to peace talks | The Guardian Nigeria News

by 198 Nigeria News
July 23, 2022
0

Several Chadian rebel and political groups have said they are resuming peace talks with the country’s military government in Qatar...

Pakistan celebrates its first woman to summit K2 | The Guardian Nigeria News

Pakistan celebrates its first woman to summit K2 | The Guardian Nigeria News

by 198 Nigeria News
July 22, 2022
0

Pakistan on Friday celebrated Samina Baig becoming the first woman from the country to summit K2, the world’s second highest...

United Bank for Africa (UBA) Group Expands to EMEA, Launches Banking Operations in Dubai International Financial Centre, Dubai

United Bank for Africa (UBA) Group Expands to EMEA, Launches Banking Operations in Dubai International Financial Centre, Dubai

by 198 Nigeria News
July 22, 2022
0

LAGOS, NIGERIA – EQS Newswire – 21 July 2022 – The United Bank for Africa (UBA), Africa’s global bank has...

Plane carrying Sri Lankan president lands in Singapore | The Guardian Nigeria News

Plane carrying Sri Lankan president lands in Singapore | The Guardian Nigeria News

by 198 Nigeria News
July 14, 2022
0

A plane carrying Sri Lanka’s president arrived in Singapore from the Maldives Thursday, according to AFP reporters, a day after...

  • Trending
  • Comments
  • Latest
A Brief History of Gymnastics

A Brief History of Gymnastics

November 30, 2021
Isabela student behind winning national costume of Miss Universe Nigeria

Isabela student behind winning national costume of Miss Universe Nigeria

December 13, 2021
How Easy Is $10,000 Per Month With A Home Business?

How Easy Is $10,000 Per Month With A Home Business?

January 15, 2022
Norway bow-and-arrow mass killing appears to be "act of terror": police

Norway bow-and-arrow mass killing appears to be "act of terror": police

50
Fashola Decries Nigeria’s Dependence on Foreign Vaccines – Trending W/ Ojy Okpe

Fashola Decries Nigeria’s Dependence on Foreign Vaccines – Trending W/ Ojy Okpe

50
Biden announces 2 biggest US ports to operate 24/7 to ease supply chain disruption | FULL

Biden announces 2 biggest US ports to operate 24/7 to ease supply chain disruption | FULL

50
Ghanaian, Dutch Businesses to Explore Business Opportunities

Ghanaian, Dutch Businesses to Explore Business Opportunities

July 26, 2022
Macron heads to Cameroon for 3-nation Africa tour amid mixed reception

Macron heads to Cameroon for 3-nation Africa tour amid mixed reception

July 26, 2022
Africa Taken for Neo-Colonial Ride — Global Issues

Africa Taken for Neo-Colonial Ride — Global Issues

July 26, 2022
198 Nigeria News

198 Nigeria News will provide the latest news update as the government facing a growing challenging in preventing Africa's most populous country from breaking apart along ethnic and religious lines.

198massmedia Group. USA. 3821 Dominion Drive, Dumfries, USA. 22026.

Toll Free 1 888 642 8433.
Contact: info@198nigerianews.com

LATEST NEWS

Ghanaian, Dutch Businesses to Explore Business Opportunities

Macron heads to Cameroon for 3-nation Africa tour amid mixed reception

Africa Taken for Neo-Colonial Ride — Global Issues

Kenya: Visa Processing Delays a Result of Backlog Caused By Covid-19 Pandemic – U.S. Embassy

Africa: Over 10 Million Covid-19 Recoveries Confirmed Across Continent

Both UK & Congo Think They’re Climate Leaders COP26s Fallout Shows How Far Adrift They Are — Global Issues

Trump returns to Washington after 2020 election loss

Africa: Russia Turns to Africa Amid Diplomatic Isolation

RECOMMENDED

No Content Available
  • Home
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact Us

Copyright @ 2021 - 198 Nigeria News

No Result
View All Result
  • HOME
  • VIDEO NEWS
  • BUSINESS NEWS
  • FEATURED NEWS
    • NIGERIA USA NEWS
    • NIGERIA EU NEWS
    • NIGERIA CHINA NEWS
    • NIGERIA UK NEWS
    • NIGERIA FRANCE NEWS
    • NIGERIA GULF NATIONS NEWS
    • NIGERIA INDIA NEWS
    • NIGERIA RUSSIA NEWS
    • NIGERIA ITALY NEWS
    • NIGERIA TURKEY NEWS
    • NIGERIA EGYPT NEWS
    • NIGERIA BRAZIL NEWS
    • NIGERIA THAILAND NEWS
    • NIGERIA PHILIPPINE NEWS
  • POLITICAL NEWS
  • MORE NEWS
    • NIGERIA TECHNOLOGY NEWS
    • NIGERIA MOVIE INDUSTRY
    • NIGERIA CRYPTO NEWS
    • NIGERIA AGRICULTURE NEWS
    • OVERSEAS JOBS NEWS
    • NIGERIA CONSTRUCTION NEWS
    • OVERSEAS SPONSORSHIP
    • 198TILG MEDIA TRAINING
    • NIGERIA IMMIGRATION NEWS
    • NIGERIA EDUCATION NEWS
    • NIGERIA VENTURE CAPITAL NEWS
    • NIGERIA JOINT VENTURE NEWS
    • NIGERIA UNIVERSITIES
    • NIGERIA MANUFACTURERS
    • NIGERIA BUSINESS HELP
    • NIGERIA PARTNERSHIP
  • ASK IKE LEWUMA
  • REGISTER NGO
  • CONTACT

Copyright @ 2021 - 198 Nigeria News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In