Fears of high inflation worry big investors

Fears of high inflation worry big investors

DUBAI: US business support company CSG is planning to set up its regional headquarters in Riyadh before the end of the first quarter of 2021, along with an initial 24 companies, following the announcement of Crown Prince Mohammed bin Salman's 2030 strategy for the Saudi capital last month.

The Royal Commission for Riyadh City wants to attract up to 500 foreign companies to set up their regional headquarters in the Saudi capital over the next 10 years, and CSG is one of the first to confirm its move.

The initiative is part of the government's wider plan to create 35,000 jobs for Saudi nationals and boost the national economy by up to SR70 billion ($18.67 billion) by 2030.

"CSG has been doing business with the major mobile operators in KSA since early 2008. To further strengthen our presence, we will have our legal entity open for business during Q1 2021. Our team has been supporting customers in the Kingdom for more than a decade and has most recently grown our portfolio with a significant new contract at Mobily, one of the country's leading mobile operators,“ Daniel Kjellander, CSG General Manager and Head of Sales Middle East, told Arab News.

The US firm will set