Dabai International receives approval from the Ministry of Investment to establish regional headquarters in Riyadh

BayerMax, a global digital payment solutions provider, has received a license from the Ministry of Investment under the Regional Headquarters (RHQ) program to set up its regional headquarters in Riyadh, and the company is one of the first companies of the National Information Technology Development Authority. Al-Din, Governor of the Regional Headquarters Project, explained at a ceremony held in June to mark Bayermax’s receipt of a license to set up its regional headquarters in Riyadh, a project launched by the Ministry of Communications and Information Technology. On November 11, at the Ministry of Investment headquarters in Riyadh, BayerMax set up its regional headquarters in Riyadh, becoming the first Asian fintech company to expand its operations in the Kingdom of Saudi Arabia.

Hamid Al-Din stressed that the Saudi government is committed to supporting the financial services industry following the implementation of major reforms in the financial sector, which has brought huge growth potential to the financial technology sector, and pointed out that the Regional Headquarters Program is a joint initiative between Saudi and Riyadh institutions as part of the Kingdom’s Vision 2030 and National Investment Strategy, which aims to support and promote the ambitious growth plans of participating institutions in the region.

Wang Hu, co-founder of Bayer Max, expressed his gratitude and appreciation to the Ministry of Investment for hosting the ceremony, considering it clear evidence of the Kingdom of Saudi Arabia’s government’s commitment to improving the business environment that supports innovative companies, stressing that the company’s establishment of a regional headquarters in Riyadh represents an excellent opportunity to enhance the … The company is located in the Kingdom, one of the most important markets in the region.

Wang stressed that the establishment of the regional headquarters comes within the framework of the company’s commitment to developing innovative solutions that make it easier for companies and individuals to do business, help simplify payment procedures, and integrate financial services into daily life in the Kingdom and the region as a whole.

He expressed confidence that Saudi Arabia’s advanced payment infrastructure will attract more well-known international companies, especially Asian digital companies in gaming, e-commerce, social media and other fields.

The establishment of BayerMax’s regional headquarters in Riyadh is within the framework of its strategic plan to increase its presence in the region, effectively promote the Kingdom’s economic and technological development, and is committed to providing secure and effective digital payment solutions for businesses and individuals, developing digital payment solutions, enhancing financial inclusion, and supporting the Kingdom’s plans to diversify its economy and improve user experience in line with the goals of the Kingdom’s Vision 2030. The demand for innovative financial solutions has grown significantly, especially with the growing popularity of video game tournaments, such as the World Gaming and Esports Gamers 8 Festival, which is held annually in the city of Riyadh, confirming that there are huge opportunities for video game growth in the Saudi fintech industry in the coming years.

It is worth noting that “BayerMax” provides comprehensive global payment solutions aimed at accelerating the adoption of digital payments, supporting digital markets, and providing convenient, secure and fast payment methods to meet the changing needs of users in the region. It looks forward to playing an important role in shaping the future of the Kingdom’s financial technology industry during the establishment of its new regional headquarters in Riyadh.