Riyadh, SPA:
On behalf of King Abdullah Bin Abdulaziz Custodian of the Two Holy Mosques, Prince Naif Bin Abdulaziz, the Second Deputy Premier and Minister of Interior, inaugurated yesterday The Fifth International Competitiveness Forum in Riyadh.
The four-day forum has been organized by the General Investment Authority under the motto “Innovation and Creativity for Sustainable Competitiveness”. Over 116 foreign and Saudi experts, including former heads of state, academics and well-known economists were set to address the forum.
In his keynote, Prince Naif confirmed that the Kingdom has attributed more interest to raise its economy competitiveness and encourage Saudi, foreign and joint investments.
He said the most important objectives of the Kingdom’s development plan is to transfer the Kingdom into a knowledge-based community in addition to spreading innovation culture.
The forum participants launched a number of initiatives aiming to upgrade the competitiveness of the private and public sectors and individuals in the Kingdom.
The forum took place in the wake of the Kingdom being ranked 11 in Ease of Doing Business, a yearly evaluation by the World Bank assessing the competitiveness of the investment and business environment in 183 countries, besides being rated 18, the top among Arab countries, in attracting direct foreign and Arab investments.
The forum’s motto reflected the need for a vision to deal with the changes in the international economic environment and international competitiveness to raise creative opinions for the post world economic crisis.