Moody's launches its regional headquarters in Riyadh in support of Vision 2030
In a move reflecting growing global confidence in the strength of the Saudi economy, Moody's, one of the world's leading credit rating agencies, announced the establishment of a regional office in the Saudi capital, Riyadh. This announcement culminates a growing relationship between the agency and the Kingdom's financial sector, and aligns with the significant economic development the country is witnessing.
Enhancing presence and supporting financial markets
In its official statement, the agency explained that establishing the new regional headquarters is not merely a geographical expansion, but a long-term strategic commitment to supporting the development of capital markets in the Kingdom. This move aims to enable investors and financial institutions to gain direct and deeper access to Moody's world-class analysis and credit data, thereby enhancing the transparency of the Saudi financial market and increasing its attractiveness to foreign investment.
Economic context and an ambitious vision
This move cannot be separated from the broader context of Saudi Arabia's Vision 2030. Moody's decision aligns with the Financial Sector Development Program, one of the Vision's executive programs, which aims to transform the Kingdom into a regional and international financial hub. This initiative also supports the Saudi government's efforts to attract the regional headquarters of global companies to Riyadh, an initiative that has seen significant interest from major multinational corporations seeking to capitalize on the region's vast investment opportunities.
The presence of a regional headquarters for an agency the size of Moody's is a strong indicator of the maturity of the investment environment in the Kingdom, as rating agencies play a pivotal role in assessing creditworthiness and providing the necessary information that asset managers and investors around the world rely on in making their decisions.
A history of presence and aspirations for the future
It is worth noting that Moody's relationship with the Saudi market is not a recent development, as the company opened its first office in the Kingdom in 2018. The conversion of its presence to a "regional headquarters" confirms the success of its previous experience and its desire to expand its services to include the Middle East region, starting from Riyadh.
Seizing promising opportunities
Commenting on the event, Rob Fauber, President and CEO of Moody’s, stated, “Our decision to establish a regional headquarters in Riyadh reflects our strong confidence in the robust economic momentum of the Kingdom of Saudi Arabia.” Fauber added, emphasizing the firm’s future role, “We are committed to helping local and international investors capitalize on opportunities through our expertise and insights, and we are ideally positioned to provide the analytical capabilities and market intelligence that investors need to navigate the sophisticated markets across the Middle East.”.
