Saudi Arabia’s leap in World Competitiveness Yearbook despite COVID-19 reflects economic reforms: Al-Qasabi

Dr. Majid Al-Qasabi, Minister of Commerce and Chairman of the Board of Directors of the National Competitiveness Center, applauded Saudi Arabia’s positive performance in the World Competitiveness Yearbook 2020, Saudi Press Agency reported.

Al-Qasabi pointed it as yet another step forward adding to the leap that the Kingdom realized last year on the way to transforming Saudi Arabia into a top 10 competitive economy in the world as envisioned by Vision 2030.

“Our progress is the fruit of a unique model of cross-sectoral collaboration among more than 50 government entities, collectively dedicated to carrying out ambitious policy and regulatory reforms and improving the competitiveness assets of the Kingdom,” he added.

Al-Qasabi emphasized that the Vision 2030 projects and programs, since its launch, contributed to the completion of the economic integration, reflecting positively on the Kingdom’s performance in the competitiveness report.

In the recent released World Competitiveness Yearbook 2020 published by the International Institute for Management Development (IMD), Saudi Arabia maintained its upward trend in the global competitiveness rankings, moving up two notches to the 24th position as the most competitive economy, compared to 26th in 2019 and 39th in 2018, Argaam reported.