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FinancialNews
01-02-23
Saudi Arabia continues localization efforts by issuing 40 certificates for companies to build HQ
(MENAFN) An amount of 40 international materials suppliers for Saudi Aramco have by now been granted with certificates from the Kingdom’s Ministry of Investment to build head office in Saudi Arabia, as localization actions progressively carry on, as said by a head official.
While giving a speech at the seventh edition of the In-Kingdom Total Value Add Forum in Dhahran, Salem Al-Huraish, vice leader of gaining at Saudi Aramco, stated that over 60 additional companies have put in the paperwork to start the process of setting-up local headquarters in the nation.
“We are working hand-in-hand with the Ministry of Investment. And now, we are giving incentives for the companies when they move their regional headquarters to the Kingdom,” according to Al-Huraish.
He continued: “I am glad to highlight that 40 of our top suppliers, those are international suppliers, already obtained certificates from MISA which is the first step for their localization or migration of their regional headquarters in the Kingdom. Another more than 60 suppliers have already filed the request to get the license.”
MENAFN01022023000045014228ID1105506639
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