Saudi reforms to increase business efficiency, transparency: SAGIA governor

Saudi Arabia is implementing reforms that will make commerce and investment more efficient, transparent and predictable, in accordance with the best international standards, Ibrahim Al-Omar, governor of the Saudi Arabian General Investment Authority (SAGIA), said.

In a keynote speech at the annual meeting of MENA-OECD, Al-Omar said that the Kingdom is proactively seeking to involve the private sector in the development and review of legislations, as well as the commerce and investment regulations, SAGIA said on its Twitter account.

Elsewhere, he said that emerging markets are the engine of global growth.

Direct foreign investment will promote economic development, the localization of  development, income growth, and job generation in these markets, he added.