Saudi Ultimatum to Move In or Lose Out Unsettles Global Firms
- Kingdom pressing foreign firms to make it their regional HQ
- Saudi move is a challenge to Gulf business hub Dubai
The Al Majdoul skyscraper and a city road at night in Riyadh, in July 2020.
Photographer: Maya Anwar/BloombergThis article is for subscribers only.
Saudi Arabia’s ultimatum for global companies to move their regional hubs to Riyadh by 2024 or lose business is the kind of decision making that has made some wary of investing there.
The millions of dollars in costs, sudden policy changes and arbitrary legal rulings mean companies will need to weigh the risks of moving there with the potential rewards Crown Prince Mohammed bin Salman’s economic overhaul promises.