![]() ![]() This lopsided business preference in favor of the UAE is primarily due to the ease of doing business in the country and its liberal social policies, which have appealed to expats. Although the UAE’s GDP is half the size of Saudi Arabia’s, the UAE has received more foreign direct investment since 2013. In 2021, Saudi Arabia hosted less than 5 percent of regional company headquarters in stark contrast to the UAE, which currently hosts the regional HQ for 76 percent of companies on the Forbes Middle East list. This policy is also a deliberate move to upend the United Arab Emirates’ (UAE) monopoly on hosting multi-national company headquarters, particularly since Saudi Arabia is the top market for most. Other companies are resigned to the fact that they must open an HQ in Saudi but are assessing loopholes, such as how many executives and employees must work from the Saudi-based HQ, what percentage of Saudi citizens need to be hired, and the tax implications.Īlbright Stonebridge Gulf Cooperation Council Regional Manager Imad Al-Abdulqader explained to me that: “The government sees this as a long-term effort, and wants to shift decision-making personnel to Saudi Arabia because it believes that if senior company leaders live there, this will allow them to see the opportunities and grow their business in a way that benefits the companies and the country instead of what is seen currently as a transactional relationship for many companies that have benefited from government procurement for decades despite hardly any economic footprint in the country.” This will also help achieve the objectives of Vision 2030 and grow the Saudi economy.Īlready, eighty companies have been granted licenses to establish headquarters in Saudi Arabia, with companies like PepsiCo leading the way. Saudi Arabia’s goal is to get 480 companies to open regional HQs by 2030, believing that this will ensure their sustained presence and retain more corporate expenditure in the kingdom. Some companies are also concerned that the government could shift the goalposts and require more executive presence or include more stringent criteria down the road. There are minimal exceptions to this new policy and, according to experts I consulted, the HQ requirement may eventually impact contracts with state-owned enterprises as well. In 2021, Saudi Arabia issued an ultimatum to international companies: they will no longer be eligible for government contracts starting in 2024 unless they have a regional headquarters (HQ) in the kingdom. Following the film's success, it spawned a remake that was released in 2015.JSaudi Arabia is requiring companies to establish headquarters in the kingdom. During its theatrical run, the film grossed over $83.5 million, and has since gained a cult following. Point Break opened to a generally positive critical reception and critics praised the relationship between Reeves and Swayze. It was shot across the western coast of the continental United States and was officially budgeted at $24 million, before being released for traditional viewing on July 12, 1991. Bigelow soon developed the script with husband James Cameron, and filming took place four years later. ![]() The film features Reeves as an undercover FBI agent who is tasked with investigating the identities of a group of bank robbers while he develops a complex relationship with the group's leader (Swayze).ĭevelopment of Point Break began in 1986, when Iliff wrote an initial treatment for the film. ![]()
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