The country aims to reduce its reliance on oil and promote a diversified economy
U.S. law firms Quinn Emanuel Urquhart & Sullivan and Morgan Lewis are launching new offices in Saudi Arabia after the nation recently adjusted its rules for foreign legal practices, Reuters reported.
Quinn Emanuel announced that it has received a license to practice in Saudi Arabia. A spokesperson for Morgan Lewis likewise confirmed the firm's plan to establish an office in Riyadh. The recent regulatory change, which took effect last year, allows foreign law firms to operate independently in Saudi Arabia, removing the previous requirement for affiliation with local offices.
Saudi Arabia’s Vision 2030 initiative, aimed at reducing the country's reliance on oil and promoting a diversified economy, has attracted significant international investment. John Quinn, the founder of Quinn Emanuel, emphasized that Saudi Arabia has been a "key focus" for his firm, which employs 1,000 lawyers globally. Quinn stated that Saudi Arabia's large-scale economic reforms and international investment strategies have made it an essential market.
Quinn Emanuel already had a foothold in Saudi Arabia through its affiliation with Alrubayyi & Attorneys since 2022. The head of that office, Nasser Alrubayyi, also leads Quinn Emanuel’s Middle East and North Africa practice.
Morgan Lewis, with a workforce exceeding 2,000 professionals, has existing offices in Dubai and Abu Dhabi. By expanding its presence into Saudi Arabia, the firm seeks to capitalize on the country's growing economic opportunities.
The liberalization of Saudi Arabia's legal sector has also prompted other law firms to open offices or obtain licenses. Since October 1, 2023 at least six other international and U.S. firms, including Kirkland & Ellis, Squire Patton Boggs, and Greenberg Traurig, have entered the Saudi Arabian market or have ben granted a license to work in the country.
Saudi Arabia’s Vision 2030 agenda includes a plan to double the size and population of Riyadh, the capital city, with investments totalling $800 billion.
