Media ININ Economy We Trust
Media In / Riyadh October 23,
Saudi Arabia achieved the best progress in the Global Competitiveness Report 2018. It ranked 39th out of 140 countries registered 67.5 points. The Trade and Investment system made progress in seven key indicators related to trade and investment, including: corporate governance, Which embraces changing ideas, behavior towards entrepreneurial risk, SME financing, growth of innovative companies, multi-stakeholder collaboration, strength of audit and accounting standards.
The Ministry of Commerce has invested in the “shareholder governance” index, ranked fifth in the world, ranking 72, ranking 77th globally last year. The Kingdom ranked 22nd in the index of “companies that embrace changing ideas” and moved from 53th in the world in 2017 to Ranked 31st in 2018. In the “Behavior of Entrepreneurship” index, security ranked 56th in the world to 35th place with 21 positions. In SME financing, the Kingdom jumped from 54th to 36th in the world, advancing 18 positions.
In the “Growth of Innovative Companies” index, it rose from 33rd to 21st place globally. The integrated work between the Ministry of Trade and Investment and the Ministries of Labor, Social Development and Education contributed to progress in the Multi-stakeholder Cooperation Index from 45th to 36th in 2018, In the “Strength of Auditing and Auditing Standards” Index, the Kingdom ranked 41rd in the world ranking 33, due to the joint cooperation between the Capital Market Authority and the Saudi Organization for Certified Public Accountants.
