Riyadh, The Kingdom of Saudi Arabia has achieved the best progress in the Global Competitiveness Report (GCR) for this year 2018 issued by World Economic Forum (WEF), ranking 39th out of 140 countries, representing the best improvement for the Kingdom in the ranking since 2012.
The Minister of Commerce and Investment and Chairman of the Executive Committee for Improving the Performance of Business in the Private Sector and encouraging it to participate in the economic development "TAYSIR" Dr. Majed bin Abdullah AlQasabi said that the integrated work in which more than 40 government agencies participated has been one of the most important factors that led to improving the Kingdom's ranking in the Global Competitiveness Report 2018, pointing to the contribution to unifying the efforts of those bodies in addressing the obstacles and challenges and supporting the private sector in the Kingdom during the last stage, praising reforms carried out by government agencies in all indicators of measuring the performance of the Kingdom in the report of the Global Competitiveness.
He pointed out that the progress of the Kingdom's ranking came despite the change in the World Economic Forum (WEF) to the methodology of the competitiveness report and the increase in the number of countries to 140 countries. This change has affected the ranking of many countries in the world including the Kingdom.
According to the previous methodology in 2017, the Kingdom ranked 30 out of 137 countries and after applying the new methodology, the Kingdom ranked 41 in 2017.
The Executive Committee for Improving the Performance of Business in the Private Sector is working to improve the Kingdom's ranking in the world indices interested in the business sector and has been able to address many obstacles and challenges facing the sector to contribute to stimulating it to participate in the economic development.
Source: Saudi Press Agency