The Kingdom of Saudi Arabia achieved the largest progress among the most competitive countries in the IMD World Competitiveness Yearbook 2019 issued by the International Institute for Management Development (IMD) in Lausanne, Switzerland. The Kingdom was ranked 26th, jumping 13 positions from last year. KSA was also ranked the 7th among the G20, ahead of advanced economies such as South Korea, Japan, France, Indonesia, India, Russia, Mexico, Turkey, South Africa, Brazil and Argentina.
The annual report on global competitiveness is composed of four main axes to measure the competitiveness of 63 countries worldwide. The Kingdom's ranking has improved in three axes: government efficiency, from rank 30 to rank 18, business efficiency from 45 to 25, and the infrastructure factor from 44th to 38th.
In this context, Dr. Abdullah Al Qassabi, Saudi Minister of Commerce and Investment, affirmed that "the improvement of the Kingdom's ranking in this report is a result of the integration of the efforts of more than 40 government entities that have implemented many reforms to serve the business environment in the Kingdom, and raise its competitiveness among the countries of the world in line with the objectives of the vision of the Kingdom 2030”.
Source: (Saudi Press Agency (SPA), Edited)
