Saudi Arabia offers tax incentives to foreign companies locating regional headquarters in the kingdom, including a 30-year exemption for corporate income tax. The move is part of efforts by Crown Prince Mohammed bin Salman to diversify the economy and create new industries. The tax exemption package includes a zero percent income tax rate for regional entities and withholding tax on approved activities for 30 years. The program has attracted 200 foreign companies so far, and Saudi Arabia looks forward to welcoming more international companies to participate in projects and major events.