Global Competitiveness Report Ranks Saudi Arabia Among Largest Global Economies

The Global Competitiveness Annual Report is one the most important independent reports expected by economists and decision makers, and aims at analyzing the ability of countries to create a supportive and stimulating environment for competitiveness, Al-Riyadh and Al-Yaum newspapers reported.

The papers pointed out that since the launch of the Kingdom’s vision 2030, Saudi Arabia has managed to achieve major goals in the field of competitiveness and implement many economic and financial reforms at the legislative and organizational levels. The papers confirmed the Kingdom’s steady and influential role among the largest global economies, which makes it among 10 most competitive countries in the world.

The papers said that Saudi Arabia has ranked eighth among the G20 countries and the 24th globally in the Global Competitiveness Report, after it was ranked 26th in 2019 and 39th in 2018. The paper referred that this achievement confirmed the success of economic policies and reforms of the Kingdom of Saudi Arabia. The papers concluded that the Economic and Development Affairs Council chaired by HRH the Crown Prince meets on a weekly basis, and focuses on the importance of concerted efforts of all government sectors concerned with business and investment, and ensure them to work in an integrated manner and achieve more progress.