In 2016, the Kingdom of Saudi Arabia committed to a transformative effort to reduce its dependence on oil revenue, diversify its economy, and develop public sectors such as education, infrastructure, healthcare, and tourism while implementing social reforms. Dubbed Vision 2030, the project is massive in both scope and ambition, with billions of dollars committed to development projects.
Big Four consulting firm PricewaterhouseCoopers (PwC) has had a presence in the kingdom for over 40 years, and has served as a partner to both government and business endeavors. With Vision 2030 projects already underway, the firm has reaffirmed its commitment to the Kingdom’s transformation by announcing plans to open a new regional headquarters in the capital city of Riyadh. The move is part of a $12 billion global strategy known as “New Equation,” and PwC has also committed to expanding local hiring and establishing a new Experience Centre focused on environmental, social, and corporate governance (ESG) matters.
“There is no doubt that Saudi from a regional perspective, with all of the giga projects and all of the transformation that is happening across the sectors, is a huge market for PwC and is a significant one for the Middle East,” country senior leader Riyadh Al Najjar told Arab News. “We wanted to ramp up our presence and show our continued commitment given the massive transformation, and support the execution of Vision 2030 as it happens.”
As part of its bid to facilitate the digital up-skilling of the local workforce, PwC’s Middle East branch has committed to doubling its headcount in the region over the next five years, including an annual hiring target of 500 new graduates. The firm will additionally launch its latest digital Experience Centre in the city, which will provide clients with access to PwC’s combined talent in business, technology, and experience to drive innovation and speed time to market. “In these centers we combine our capabilities with the best of our technology from around the world to provide opportunities to our clients to collaborate, dream and co-create with us,” said Al Najjar.
PwC leadership hopes that the presence of its HQ in Saudi Arabia will help attract other global firms to the country, enhancing the kingdom’s business environment. Indeed, over 40 multinational companies have been granted licenses to establish regional headquarters in hopes of being able to bid on government contracts.
