Regional HQ program to add SAR 67 bln to Saudi economy, create 30,000 jobs by 2030: Al-Rasheed

Royal Commission for Riyadh City CEO Fahd Al-Rasheed

Royal Commission for Riyadh City Chief Executive Officer (CEO) Fahd Al-Rasheed said that regional headquarters program (RHQ), which is supervised by the commission and the Ministry of Investment to attract regional headquarters of international companies, will contribute an additional SAR 67 billion to the national economy and providing nearly 30,000 job opportunities by 2030. 

Companies participating in the program will bring global talent that will work and live with their families in the Kingdom and contribute to the development of research and innovation in the medium to long term, as well as provide a supportive environment that provides knowledge and experience to young national talents, Al-Rasheed was quoted by the Saudi Press Agency (SPA) as saying.

He explained that each job created through the program will create 2.5 jobs in the base economy, and the program would provide promising opportunities for national talent to work in global companies and enable them to work in new sectors. This will contribute to developing young leadership generation working in the management and operation of those headquarters. 

“We are witnessing a rapid day-to-day transformation in our capital into a major regional hub for global companies, and we will continue to work towards our vision of doubling the city's population and tripling its economic impact by 2030,” the CEO added.

More than 80 projects are being implemented in the city, contributing to making Riyadh one of the top 10 city economies in the world, Al-Rasheed said.