Saudi Arabia is actively positioning itself as a new hub for global technology companies, including giants from the FAANG group, by offering a combination of incentives and applying pressure to relocate their regional headquarters from other Gulf countries. In a strategic move to bolster its tech sector, the kingdom is stepping up its demands in negotiations with Chinese tech firms, including Alibaba and SenseTime. These demands include mandates for investments in the Saudi economy and the sharing of expertise as conditions for securing significant deals.
FirstFT: Saudi Arabia steps up demands in deals with Chinese tech group https://t.co/M8m9roZmTe
‘Strings attached’: Saudi Arabia steps up demands in tech deals with China https://t.co/gsEruDMJV3 via @ft
Sources: Saudi Arabia is mandating that Alibaba, SenseTime, and other Chinese tech companies invest in the kingdom and share expertise to secure huge deals (@eleanorolcott / Financial Times) https://t.co/LVfuh2byTW 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/xIRqiGH6Kn
‘Strings attached’: Saudi Arabia steps up demands in tech deals with China https://t.co/w5mzSwes2k
Saudia Arabia is becoming a new destination for global tech companies including the FAANG firms. The government is using a mix of incentives and pressure to lure regional HQs away from other Gulf countries: https://t.co/I7OeMLZnGE