Airbus becomes latest multinational to open regional HQ in Saudi Arabia
The European plane maker aims to develop local talent and technological expertise in the fast-growing Gulf market.
Airbus has opened its new regional headquarters in Riyadh, becoming the latest major multinational company to choose the Saudi Arabian capital as a base, the European plane maker said in a statement.
Airbus currently employs over 350 people in Saudi Arabia, 30% of them Saudi citizens. The company aims to boost local talent development and technological expertise in the fast-growing Gulf market, according to a statement by the firm Wednesday.
Saudi Arabia set a deadline of Jan. 1, 2024, for multinationals to locate regional headquarters in the kingdom for access to government contracts. As many of the largest companies in Saudi Arabia are at least partly government-owned, more than 550 global firms, including Blackrock and Goldman Sachs, have applied for licenses to open regional headquarters in the kingdom.
Eid Al-Qahtani has been appointed president of Airbus’ Riyadh regional headquarters, the company statement said. Al-Qahtani had been at Airbus for more than two decades, previously working as head of operations for Airbus Helicopters in Riyadh.
