RIYADH: German consultancy firm TÜV Rheinland has unveiled its new regional headquarters in Riyadh, reflecting the Saudi capital’s ongoing success in attracting fresh investments in line with the goals outlined in the Kingdom’s Vision 2030.
In a press statement, Michael Fübi, CEO and chairman of the executive board at TÜV Rheinland Group, emphasized the firm’s long-standing commitment to regional partners.
He said: “For decades, TÜV Rheinland has provided industrial expertise for the local workforce to strengthen and contribute to local businesses. We are proud to build on this progress as we advance these transformational projects together.”
Earlier this month, Saudi Arabia’s Minister of Investment Khalid Al-Falih revealed that over 180 companies have established their regional headquarters in Saudi Arabia, surpassing the previously set target of attracting 160 firms to the Kingdom by the end of this year.
In an interview with Bloomberg, he said that the regional headquarters program is a “long-term journey” and added that the Kingdom is working with international entities to create the “right ecosystem” to open their offices in Saudi Arabia.
“We had a target by year-end to have 160 regional headquarters for global companies. So far, the year is not up yet, and we have issued 180 licenses. In fact, the rate is picking up to the tune of 10 companies per week that are being licensed in Saudi Arabia, and they are being provided with a good set of incentives,” the minister revealed.
