- Huawei aims to establish its headquarters for the Middle East in Riyadh as part of the Saudi government's efforts to position itself as a regional business hub and strengthen its ties with China. The Chinese tech giant is reportedly in talks with Riyadh authorities to upgrade its current presence there, with plans to expand further.
- Saudi Arabia and China have strengthened their ties through agreements worth billions of dollars. While the Chinese company has offices across the region, no final decision has been made yet. Huawei currently has regional headquarters in Dubai and Bahrain.
Why it matters
Saudi Arabia has announced that starting in 2024, foreign companies doing business with government entities must have regional headquarters in the country. This move is an effort to limit capital outflow from the economy and attract more foreign investment. Despite U.S. warnings to avoid Chinese tech companies, Huawei is reportedly increasing its presence in the country.
