International companies that wish to participate in the Saudi government’s investment opportunities will have to establish regional headquarters in the kingdom from January 2024 or they will not win government contracts, the Saudi finance minister has told Reuters. International companies which refuse to move their regional headquarters to Saudi Arabia after this time would continue to have the freedom to work with the private sector in the country. However, some sectors will be exempt and detailed regulations on this area will be issued before the end of 2021. This will affect all the authorities, organisations, and funds of the government from any of its organisations. The aim is also to ensure that the products and services purchased by the government are implemented in the kingdom and with suitable local content.