Saudi economy witnesses major transitions: Al-Kassabi

Majid Al-Kassabi, Minister of Commerce

Saudi Arabia's economy witnesses major and fundamental transitions, in light of the ambitious goals of Vision 2030, which included recording the highest growth rate among the G20, Majid Al-Kassabi, Minister of Commerce and Chairman of the National Competitiveness Center (NCC).

The statement was made today, Feb. 8, at a session organized by NCC in cooperation with the Saudi Center for Commercial Arbitration (SCCA) in New York, on the sidelines of the Kingdom's participation in the 77th session of the United Nations Commission on International Trade Law (UNCITRAL).

He added that the development of the legislative and commercial system to keep pace with the continuous transition the Kingdom led to creating several promising opportunities for the business sector. 

The minister reaffirmed that the Kingdom made several economic and legislative reforms with the aim of enhancing the country's competitiveness.