TECH - Saudi Arabia's New HQ Mandate Lures Global Tech Giants Amazon Microsoft Google To Follow | Benzinga

Global tech giants Amazon.Com Inc (NASDAQ: AMZN), Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Google, and Microsoft Corp (NASDAQ: MSFT) are expanding their presence in Saudi Arabia, driven by the government's mandate requiring companies to establish regional headquarters in the country for state contract eligibility. 

The push is part of Crown Prince Mohammed bin Salman's economic strategy, focusing on reducing 'economic leakage' and keeping government and citizen spending within Saudi borders.

To comply with the Saudi directive set for January 1, these US firms and others like Airbus SE (OTC: EADSF) (OTC: EADSY), Oracle Corp (NYSE: ORCL), and Pfizer Inc (NYSE: PFE) have obtained licenses for setting up regional HQs in Riyadh, Bloomberg Full story available on Benzinga.com