Saudi Arabia is rapidly advancing structural economic transformation to adapt to global changes, build a diversified economy, and create a favorable business environment for investors and entrepreneurs, with the ultimate goal of establishing the Kingdom as a global hub for commerce and trade.
In this context, the National Competitiveness Center works closely with government agencies to continuously implement various reforms aimed at addressing challenges faced by both public and private sectors.
To overcome obstacles affecting the development and improvement of the Kingdom’s business environment, the center has undertaken 14 tasks, including supervising government agencies in implementing necessary reform measures to enhance competitiveness, establishing strong partnerships with international competitiveness organizations, and learning from the experiences of countries leading in global competitiveness indicators.
Official statistics show that these reform measures have positively impacted economic development, with GDP growing by 1.3%, business activity increasing by 6.4%, and a total of 1.6 million business registration documents issued.
The Kingdom of Saudi Arabia continues to make progress in enhancing its global competitiveness, with particular emphasis on attracting entrepreneurs to priority development and emerging sectors, especially after allowing 100% foreign ownership.
