Big tech giants like Amazon, Microsoft, and Google are establishing regional headquarters in Saudi Arabia. The aim is Saudi tech revolution!
‘Keeping the Money’ in KSA Tactic
The Saudi government has already been working on the Vision 2030 plan to expand its economy far away from its oil dependence, trying to work on attracting big tech companies. That’s the key to economic tactic, establishing the country as a local tech hub.
On top of that, motivating the big giants to work physically in Saudi Arabia, this move obliges new rules’ requirements with government contracts. So Saudi Arabia is working to make the big tech companies work out of Dubai. That’s so spicy!! The competition is at its peak between Dubai and Saudi Arabia, and the proof is Expo Dubai and Neom Riyadh.
Cosmic Twins: Dubai, KSA
Dubai has been the ‘dream spot’ for various multinational companies, and plenty of them are tech giants. Of course, there are reasons to choose Dubai as the preferred hub. One for its established infrastructure. Two, low taxation which indeed is the most preferable reason. Three, its business-friendly environment speaks for itself!
On the other hand, Saudi Arabia is trying to achieve what Dubai is aiming for by providing financial encouragements and rationalizing regulations to charm businesses more and more.
Saudi Arabia’s crown prince is not standing still, he’s already got things moving.
“The three US firms have all received licenses to establish regional HQs in Riyadh, a government database shows. Those approvals came just ahead of the Jan. 1 deadline set by the Saudi government,” stated Fortune.
The Best is Yet to Come
The outcomes of such moves from Saudi Arabia for its people will be AMAZING. It will lead to tremendous job creation. Also, it will draw further attention to big tech in the Kingdom, drawing more global talent.
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