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The Minister of Investments of Arabia: International companies will announce tomorrow the establishment of their regional headquarters in Riyadh

Saudi Investment Minister Khalid Al-Falih revealed to Al-Arabiya that tomorrow there will be an announcement regarding the licensing and the start of the establishment of regional headquarters for international companies in Riyadh.

The announcement comes on the sidelines of the Conference on Investment Initiatives, which was held yesterday and today in Riyadh with an international participation.

In a session of the Future Investment Initiative, Al-Falih stressed the need to invest major oil companies and financial markets in the clean energy transition, as well as investing in fossil fuels, to achieve a more balanced energy portfolio.

He added that Saudi Aramco, UAE ADNOC, Kuwait Petroleum Company and other oil giants should invest in this energy transition.

He expressed his belief that we should achieve this concept of transformation globally, as financial markets should invest in this transformation now and realize that it is not a bipolar, not only zero or one, we should look at the environment, social and corporate governance As he points out, “I think there are a lot of companies that invest in oil and gas which are doing very well now in terms of environmental and social governance “.

In early February, the Kingdom attracted a group of 24 multinational companies to establish a regional headquarters in Riyadh, as the Kingdom seeks to transform its capital. in a shopping center.

Among the companies that announced during the last edition of the Future Initiative Conference Investment in the creation of a regional headquarters for the American engineering group Bechtel, Inc. Indian hotels Oyo and others.

The announcement of the multinationals, in occasion of the current edition of the Future Investment Initiative conference held yesterday and today in Riyadh, will represent another step towards the consolidation of the ambitious structural development of the Kingdom’s economy.

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