Riyadh: Competitiveness is one of the essential pillars for building a vibrant economy and achieving sustainable development. It supports economic prosperity by attracting greater investment, creating new job opportunities, raising living standards, and improving the quality of services provided to society, particularly in health, education, and infrastructure.
According to Saudi Press Agency, competitiveness refers to a country’s ability to optimally employ its resources, policies, and institutions to enhance efficiency and the quality of services delivered to individuals and the business sector. It contributes to sustainable development and strengthens a country’s position in the global competitive landscape. The competitive environment, in this context, encompasses all factors that shape the nature of competition among enterprises within a given market or industry.
The importance of competitiveness lies in its role in driving sustainable economic growth through attracting foreign investment, generating e
mployment, boosting exports, reducing costs, improving the quality of goods and services, and creating a business-friendly environment.
In support of this objective, the National Competitiveness Center, since its establishment in 2019, has worked to develop regulations and legislation, remove obstacles, improve government procedures, and raise the Kingdom’s ranking in global competitiveness indicators and reports. This has been achieved through the implementation of more than 900 legislative and procedural reforms.
The center has also played a significant role in strengthening the Kingdom’s competitive environment by studying and analyzing the challenges facing the public and private sectors, proposing solutions and initiatives, and monitoring their implementation.
The Kingdom continues to aspire to become an attractive destination for business and a global hub for investment. To this end, it has focused on improving the competitiveness of its business environment by simplifying procedures, facilitating ec
onomic activity, enhancing transparency, and building partnerships with international organizations to exchange expertise and best practices in competitiveness.