Saudi government to tighten up on contracts with foreign firms from 2024: SPA

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Economy39 minutes ago (Feb 15, 2021 12:30PM ET)

© Reuters. FILE PHOTO: Cars drive past the King Abdullah Financial District in Riyadh

CAIRO (Reuters) – The government of Saudi Arabia is determined to stop signing contracts with foreign companies with a regional headquarters that is not in the kingdom as of January 2024, the state news agency (SPA) said citing an official source.

The source stressed that this will not affect the ability of any investor to enter the Saudi economy or continue to deal with the private sector, adding that the relevant measures will be issued during 2021.

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