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Riyadh 24 -10-2019 \ SPA
The Minister of Trade and Investment, Chairman of the National Competitiveness Center (Taysir), Dr. Majed bin Abdullah Al-Qasabi held a press conference in Riyadh today on the occasion of the Kingdom of Saudi Arabia achieved a qualitative achievement in the Doing Business 2020 report issued by the World Bank Group This is the most advanced and reformed country among 190 countries around the world.
He stressed that the Kingdom has been engaged for centuries in the field of trade and labor, and is a platform for growth, development, development, progress and trade expansion of the countries of the world, and is working to stimulate investment within and neighboring areas.
He explained that the aim of the Board of Directors of the National Competitiveness Center is to ‘facilitate’ sitting with the private sector and to identify their problems and challenges, whether these challenges are legislative, procedural, legal or licenses, and work together to get solutions that enable the private sector to get out of these challenges and open the way for entrepreneurs.
“Improving the business environment is possible for entrepreneurs, and is the first stop to help attract the investment that an investor needs to set up a company or borrow money or identify challenges, and we are working to improve and develop them. This will be an attractive and key element to motivate local entrepreneurs and investors,” he said. Foreigners work in the Kingdom, and this coincides with the state’s tendencies in opening investment in the field of minerals, tourism, culture, entertainment, sports, logistics and services, in addition to large and giant projects such as the Red Sea, Neum, Al-Qudiya and Amala, which will make the Kingdom an environment Offspring to attract local and international investments. ”
His Excellency promised that the Kingdom will achieve a qualitative achievement in the Doing Business 2020 report issued by the World Bank Group, and presented by 30 ranks, making it the most advanced and reformed country among (190) countries around the world, a clear proof that the Kingdom is serious in its developmental reform journey and a catalyst for local entrepreneurs and investors. And global.
For her part, the Assistant Minister of Trade and Investment, Chief Executive of the National Competitiveness Center, Dr. Iman Al-Mutairi, explained that the number of reforms increases and decreases every day as reforms are added according to the challenges facing the private sector, indicating that the 300 challenges can increase and reach larger numbers. These challenges are constantly being addressed and transformed into initiatives and then reforms, as a set of initiatives is one reform.
Dr. Iman said that the work of the National Competitiveness Center is to meet with the private sector continuously, to know the challenges facing them in any sector whether dairy sector, industry, retail, etc., to know if there are any common challenges, and to benefit from international experiences such as the World Bank or Forum World Economic Forum.
She pointed out that there is a committee only interested in re-engineering investment licensing procedures, where the first nine sectors were considered the most licenses issued from them, and re-engineering procedures where 50% of the requirements have been reduced, and many of the licenses will be immediate, and some have been started and others will be Start it.
She pointed out that the report of the World Bank to do business for medium and small investors in all countries of the world and does not focus on the foreign investor itself or the big investor, noting that the goal of facilitating the procedures of small investors is to be the backbone of the economy, and therefore most of the actions that we do both in the bank indicators International or other services primarily serve medium and small investors, in addition to working on international indicators in general.
The founder of the World Bank Group’s Doing Business report, senior research director at the World Bank Group, Dr. Simeon Yankov, said: “The real guarantee is that we don’t communicate with governments because governments are exaggerating, communicating with the private sector and asking questions to hundreds of people in the private sector, including lawyers and bankers. Companies and traders will remind them you have noticed any change regardless of the political side.
“Only the private sector mentions the truth. We interview hundreds of people and 5,000 people help us work together,” he said, noting that the bank has an international team and the team does not treat the value of the government as a guarantor. If we have doubts, we come back to them and ask them that this matter. incorrect”.
Regarding investor protection, Dr. Yankov said: “The Kingdom has confirmed that it has changed its rules and regulations to be clear to local investors and companies as well as to international investors. We have high quality standards that make sure that the political side has no role. This improvement and progress is real in Saudi Arabia and should be celebrated. Today and starting tomorrow with new goals and new committees. “
