Saudi Arabia is serious about its Jan. 1 deadline for companies to move regional headquarters to Riyadh — or lose out on government contracts

Saudi Arabia is holding on to its ultimatum that foreign companies will need to base their regional headquarters in the kingdom or be barred from lucrative government contracts. The deadline: Jan. 1, 2024.

In a bold surprise move back in February 2021, the Saudi government announced that it would, by 2024, cease doing business with any international companies whose regional headquarters were not based within the country.

Source: CNBC