Saudi Investment Minister Khalid Al-Falih revealed to Al-Arabiya that there will be an announcement tomorrow regarding the licensing and the start of establishing regional headquarters for international companies in Riyadh.
This announcement comes on the sidelines of the Investment Initiative Conference, which was held yesterday and today in Riyadh with international participation.
In a session of the Future Investment Initiative, Al-Falih pointed to the need to invest major oil companies and financial markets in the transition to clean energy, as well as investing in fossil fuels, to obtain a more balanced portfolio of energy.
He added that Saudi Aramco, the UAE’s ADNOC, the Kuwait Petroleum Company and other oil giants should invest in this energy transition.
He expressed his belief that we must reach this concept at the global level of transformation, as financial markets should invest in this transformation now, and realize that it is not a bipolar, not just zero or one, we must look at environmental, social and corporate governance As points, “I think there are a lot of companies that invest in oil and gas that 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 into a business center.
Among the companies that announced during the last edition of the Future Initiative Conference Investment in establishing regional headquarters for the American engineering group Bechtel, Inc. Indian hotels Oyo, and others.
The announcement of the multinational companies, at the current edition of the Future Investment Initiative conference held in Riyadh yesterday and today, will represent another step towards consolidating the ambitious structural development of the Kingdom’s economy.
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