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Saudi Government Agencies and bodies 1st change for new year 2024, see details below.
Saudi Government Agencies and bodies 1st change for new year 2024
Beginning on January 1, 2024, Saudi Arabia has taken a significant step by officially initiating the implementation of a pivotal decision. Henceforth, Saudi government agencies and entities are barred from entering into contracts with international companies and foreign institutions that maintain regional headquarters outside the Kingdom. This move underscores the nation’s commitment to promoting local engagement and fostering a more self-reliant economic landscape. The decision is anticipated to reshape the dynamics of international business relationships within the region, signaling a strategic shift in Saudi Arabia’s approach to fostering economic development and autonomy.
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