Regional HQ Push by KSA not a ?Game Changer?

The recent announcement by Saudi Arabia that Riyadh would only award state contracts to businesses that establish Middle East offices in the kingdom is unlikely to make a significant difference in reducing unemployment amongst Saudi nationals according to senior executives in the region.

The Saudi investment minister Khalid al-Falih, said in a tweet that the decision would create ?thousands of jobs? and transfer expertise?

It remains unclear what a regional headquarters is defined as, and according to a Gulf based executive quoted in the FT ?It?s likely to be a scare tactic to coax companies into making pre-emptive moves and encouraging new entrants into the region to check out Riyadh first?

Another executive based in Riyadh said no advanced economy has pursued such a strategy and said the plan will not be a game changer for the kingdom as its pushes its Vision 2030 economic reform plan.