Foreign firms must have HQ in KSA to get KSA gov. contracts
#1
Foreign firms must have HQ in KSA to get KSA gov. contracts
As of Jan 1st, KSA government and state backed institutions will not sign contracts with firms who do not have their MiddleEast HQ in Saudi.
Pretty clear this is a direct challenge to Dubai and Abu Dhabi's position in the area.
So now firms will have to keep two HQs , one in KSA and one in the UAE to be able to do business in both countries?
Wasn't MBZ supposed to be a mentor for MBS?
https://finance.yahoo.com/news/saudi...181155586.html
Pretty clear this is a direct challenge to Dubai and Abu Dhabi's position in the area.
So now firms will have to keep two HQs , one in KSA and one in the UAE to be able to do business in both countries?
Wasn't MBZ supposed to be a mentor for MBS?
https://finance.yahoo.com/news/saudi...181155586.html
#2
Re: Foreign firms must have HQ in KSA to get KSA gov. contracts
https://www.arabnews.com/node/1809861/business-economy
#3
Re: Foreign firms must have HQ in KSA to get KSA gov. contracts
Interesting - curious to see how this plays out. Is there an example of this being done elsewhere in the world? My experience suggests that the higher the calibre of a person, the less likely they are to accept a move to Riyadh (because they have plenty of alternative options). I wonder whether the potential size of the prize is so big in KSA that this outweighs these sorts of human capital considerations.
#4
Re: Foreign firms must have HQ in KSA to get KSA gov. contracts
Interesting - curious to see how this plays out. Is there an example of this being done elsewhere in the world? My experience suggests that the higher the calibre of a person, the less likely they are to accept a move to Riyadh (because they have plenty of alternative options). I wonder whether the potential size of the prize is so big in KSA that this outweighs these sorts of human capital considerations.
Having worked in KSA, I can say I did it for a price only and based on that experience I'd need a lot more for a second bite of the cherry. Unless the money is irresistible or I have no other choice it would not be on my radar.
#5
Lost in BE Cyberspace
Joined: Nov 2012
Location: bute
Posts: 9,740
Re: Foreign firms must have HQ in KSA to get KSA gov. contracts
Maybe I am an odball but I preferred KSA to UAE or Qatar. I would prefer Jeddah or Al-Sharqiya to Wahabi Riyadh though !
Mind you the KSA that I saw in the 1970s is different from the one I left in 2011 !
Mind you the KSA that I saw in the 1970s is different from the one I left in 2011 !
#6
Re: Foreign firms must have HQ in KSA to get KSA gov. contracts
#7
Re: Foreign firms must have HQ in KSA to get KSA gov. contracts
No 2 HQs' the Regional HQ for Middle East must be in Saudi.
https://www.arabnews.com/node/1809861/business-economy
https://www.arabnews.com/node/1809861/business-economy
#8
Forum Regular
Joined: Jan 2017
Posts: 177
Re: Foreign firms must have HQ in KSA to get KSA gov. contracts
I'm sure there will be ways around it. My last 2 employers were based in Free Zones in Dubai and opened "mainland" offices in Abu Dhabi to be able to win projects directly from ADNOC, I assume this will be something similar.
Middle East HQ in Riyadh and "North Africa, Caspian and West Asia" HQ in UAE.
Or there will be a rise of Saudi agents to be the main contractor and subcontract everything down, taking a cut out of the revenue.
Middle East HQ in Riyadh and "North Africa, Caspian and West Asia" HQ in UAE.
Or there will be a rise of Saudi agents to be the main contractor and subcontract everything down, taking a cut out of the revenue.
#9
Re: Foreign firms must have HQ in KSA to get KSA gov. contracts
I'm sure there will be ways around it. My last 2 employers were based in Free Zones in Dubai and opened "mainland" offices in Abu Dhabi to be able to win projects directly from ADNOC, I assume this will be something similar.
Middle East HQ in Riyadh and "North Africa, Caspian and West Asia" HQ in UAE.
Or there will be a rise of Saudi agents to be the main contractor and subcontract everything down, taking a cut out of the revenue.
Middle East HQ in Riyadh and "North Africa, Caspian and West Asia" HQ in UAE.
Or there will be a rise of Saudi agents to be the main contractor and subcontract everything down, taking a cut out of the revenue.
Would be hilarious if all the big countries with lucrative markets follow Saudi.
#10
Account Closed
Joined: Feb 2011
Posts: 0
Re: Foreign firms must have HQ in KSA to get KSA gov. contracts
The former is less and less frequent.
The latter is more and more frequent.
#11
Re: Foreign firms must have HQ in KSA to get KSA gov. contracts
Keeping in mind I have 80+ live roles in KSA at the moment and have a team interviewing candidates day and night for the Kingdom, I can assure you of the following trend regarding the statement you make;
The former is less and less frequent.
The latter is more and more frequent.
The former is less and less frequent.
The latter is more and more frequent.
Last edited by weasel decentral; Feb 18th 2021 at 8:04 am.
#12
Account Closed
Joined: Feb 2011
Posts: 0
Re: Foreign firms must have HQ in KSA to get KSA gov. contracts
If someone is on a good deal somewhere, that's got a couple or more years of legs in it and not hating life, they'd be mental to look for something new now. I'd only change if the writing was on the wall and even then, there's good options and bad in the Kingdom. I'm very lucky that my work is in Riyadh, not the arse end of nowhere in a camp.
I still hear a bit of; "I'd go if it was X".....where X doesn't exist anymore, it's half or three-quarters of X which suddenly looks a lot like what they get in Dubai.
I've seen people move from Dubai to Riyadh for the same and even a few for less. Tax free cash is better than the UK or South Africa or Australia at the moment I guess.
#13
Re: Foreign firms must have HQ in KSA to get KSA gov. contracts
Oh 100%, not suggesting anything, just sharing what I'm seeing to be honest.
If someone is on a good deal somewhere, that's got a couple or more years of legs in it and not hating life, they'd be mental to look for something new now. I'd only change if the writing was on the wall and even then, there's good options and bad in the Kingdom. I'm very lucky that my work is in Riyadh, not the arse end of nowhere in a camp.
I still hear a bit of; "I'd go if it was X".....where X doesn't exist anymore, it's half or three-quarters of X which suddenly looks a lot like what they get in Dubai.
I've seen people move from Dubai to Riyadh for the same and even a few for less. Tax free cash is better than the UK or South Africa or Australia at the moment I guess.
If someone is on a good deal somewhere, that's got a couple or more years of legs in it and not hating life, they'd be mental to look for something new now. I'd only change if the writing was on the wall and even then, there's good options and bad in the Kingdom. I'm very lucky that my work is in Riyadh, not the arse end of nowhere in a camp.
I still hear a bit of; "I'd go if it was X".....where X doesn't exist anymore, it's half or three-quarters of X which suddenly looks a lot like what they get in Dubai.
I've seen people move from Dubai to Riyadh for the same and even a few for less. Tax free cash is better than the UK or South Africa or Australia at the moment I guess.
But right now my calculation is X plus because I have the luxury of job security and choice, but as soon as that changes I know I'll be at X minus.
#15