Two global giants move their regional headquarters to Riyadh
iHerb, a global leader in health and wellness, and CJ Logistics, a leading Asian logistics company, moved their regional headquarters to Riyadh.
This is part of relocating regional headquarters of several global companies to Riyadh. The move reinforces the strength of the Saudi economy, and expresses optimism about the recent economic reforms, which are expected to reflect positively on investors.
The American company iHerb for health and wellness products and the Korean CJ Logistics, a world leader in logistical solutions, finally chose Riyadh as the hub of their operations in the Middle East and Africa. This is in response to the growing demand from consumers, in addition to the attractiveness of the business environment in the Kingdom. The periodic meetings held by the E-Commerce Council has contributed tremendously to attracting global companies to the Saudi capital.
President of the General Authority of Civil Aviation (GACA) Abdulaziz Al-Duailej presented CJ Logistics Company the license to practice its commercial business in the Kingdom. The ceremony was held in the presence of Minister of Commerce and Chairman of the E-Commerce Council Dr. Majed Al-Qasabi, Korean Ambassador to Saudi Arabia Park Joon-yong, CEO of CJ Logistics Sin Ho Kang, and Chief Operating Officer of iHerb Miriee Chang.
Speaking on the occasion, Al-Qasabi said that the influx of international companies to conduct their commercial business in the Kingdom comes in the context of the growing interest in the promising opportunities available in light of the Saudi Vision 2030, which pays attention to the development of the e-commerce business system, and its important role in the Saudi economy, especially in view of the fact that the Kingdom is among the top 10 developed countries in this sector.
Al-Qasabi praised the role of the E-Commerce Council as a platform for constructive dialogue and cooperation between the private sector and government agencies, which paves the way for other initiatives and achievements.
For his part, GACA President Al-Duailej stated that the integrated logistics zone is an evidence of the achievements of the national strategy for the aviation sector within the framework of Saudi Vision 2030, which confirms the strengthening of the Kingdom’s position as a global logistics center linking three continents and attracting the largest companies in the world and the region.
He pointed out that the integrated logistics zone is characterized by regular procedures that contribute to attracting investments by allowing foreign investors to establish companies and own them 100 percent in addition to facilitating the requirements and procedures for registering investments in the zone.
On his part, CEO of CJ Logistics Sin Ho Kang said: “The e-commerce market in Saudi Arabia is one of the highest growing markets, in addition to the geographical location that connects markets in Africa and Europe. “The company will employ all modern technologies in the new center to lead logistics services related to e-commerce in the region,” he added. CJ Logistics is the oldest and largest parcel delivery firm in South Korea.