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Saudi Arabia announced new regulations for state contracts in 2021, saying it wanted to limit “economic leakage”. Under the rules that came into force this year, firms must have a regional base in Saudi Arabia with at least 15 employees, including executives overseeing other countries or risk losing business with the kingdom’s vast network of government entities.
As part of his drive to boost the economy and attract international investment, Crown Prince Mohammed bin Salman has loosened restrictions on gender mixing, women driving, and public entertainment. But limited options available for things like housing, schooling and entertainment, as well as policies like the continued ban on alcohol have made many foreign executives reluctant to live in the country.
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