Accoridng to Bloomberg news, Huawei Technologies Co., Ltd. is looking to set up its Middle East headquarters in Riyadh, the capital of Saudi Arabia, in response to the Saudi government’s initiative to build the country into a regional business center.
Huawei already has offices in the Saudi capital and other cities in the Middle East, and successively set up regional headquarters in Dubai and Bahrain. The company is currently negotiating with the Riyadh authorities.
For your information, Saudi Arabia previously announced that starting in 2024, government agencies will restrict business with foreign companies that do not have a regional headquarters in the country in order to reduce economic outflows and attract foreign investment. About 80 companies applied to relocate their headquarters to Riyadh late last year, government officials said.