Riyadh, February 17, 2021, SPA -- Saudi newspapers highlighted in their editorials today a number of issues at local, regional and international arenas. Al-Yaum, Al-Bilad and Al-Eqtisadiah newspapers reported in their editorials that the sustained efforts of the Kingdom of Saudi Arabia aiming to achieve comprehensive development, promote the quality of life of individuals and enhance stability, prosperity and progress in the region, is a Saudi approach since the era of the late founder until this prosperous era, under the leadership of the Custodian of the Two Holy Mosques and His Royal Highness the Crown Prince. The newspapers added that investment is an essential engine for sustainable economic growth in all sectors, and there is a preferential advantage to attract investments, which is the strategic location and the ability to invest it globally, and the Kingdom of Saudi Arabia has succeeded in realizing this advantage by linking the strategic value of its location with its ambitious vision. The newspapers pointed to the Kingdom of Saudi Arabia’s decision about stopping contracting with any company or firm that has regional headquarters outside Saudi Arabia, starting from 2024. The newspapers said that this step being taken by the Saudi government in terms of business is extremely important. It comes in light of the strength of the Saudi economy, the rapid development of the Kingdom's infrastructure and the digital transformation in Saudi Arabia. This positive step also comes in line with the standards of the Kingdom's Vision 2030, which has achieved quantum leaps since its launch. The new governmental decision aims to incentivize the localization of businesses by foreign companies that deal with the Kingdom’s government or any of its agencies, institutions and funds, in addition to creating more jobs, limit economic leakage, increase spending efficiency, and guarantee that the main goods and services purchased by the different government agencies are made in the Kingdom with appropriate local content, the newspapers further added. The newspapers noted that this decision will not affect any investor’s ability to enter the Saudi market, or to continue their business with the private sector. The newspapers concluded that these aforementioned data affirm that the Kingdom of Saudi Arabia is proceeding in its development march according to the plans and strategies of Vision 2030 despite all exceptional difficulties and challenges. -- SPA 09:28 LOCAL TIME 06:28 GMT 0005 www.spa.gov.sa/w1506506