Arab world specialist legal consulting firm Institution Quraysh for Law & Policy (iQ) announced today that it would be establishing new offices in Riyadh and King Abdullah Economic City from which iQ and affiliate international law firm Covington & Burling LLP (Covington) will support Saudi Arabia’s Economic Cities Authority (ECA) initiative.
ECA is the regulator behind Saudi Arabia’s four planned economic cities, with its headquarters in King Abdullah Economic City being the flagship project. The Economic Cities are set to diversify The Kingdom’s predominantly oil-based economy by attracting new foreign and domestic investment and addressing job creation and opportunities for the Kingdom’s growing population.
At the Global Competitiveness Forum in Riyadh this week, whose speakers included President Bill Clinton and Prime Minister Tony Blair, Timothy Hester, the chair of Covington’s management committee, said: “The success of the cities of the future will depend heavily on the quality of their legal infrastructure. Investors have choices to make, and in a global economy they will focus their investment in economies strongly supported by the rule of law.” He added: “We are honored to be working with His Excellency Amr Dabbagh and the new ECA Secretary General Helal to support His Majesty’s vision for the development of the Kingdom’s Economic Cities.”
Malik Dahlan, iQ Principal, stated: “We are happy to be the first firm with our kind of expertise to locate in King Abdullah Economic City. Through our affiliation with Covington, we are committed to providing support on governance and rule of law infrastructure issues whilst at the same time maintaining the Kingdom’s cultural integrity.”
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