Riyadh: The National Competitiveness Center (NCC), in collaboration with the Organization for Economic Co-operation and Development (OECD), conducted a comprehensive review of significant global trends in capital market development, corporate governance, and sustainability during a workshop. This event was attended by representatives from seven government agencies.
According to Saudi Press Agency, the workshop addressed a variety of topics, including capital market development, which is essential for economic growth by enabling companies to access capital for innovation and long-term projects. Discussions also focused on corporate governance policies, institutional sustainability, and the latest trends in these areas. Moreover, the workshop evaluated the impact of economic and development reforms on the goals of Saudi Vision 2030.
Several experts from the OECD stressed the importance of capital markets both locally and globally. They concentrated on the development of equity and debt markets and the improvement of corporate governance, aiming to enhance market attractiveness for investors, reduce legal and operational risks, ensure compliance with regulations and legislation, and foster long-term sustainability and growth. Furthermore, they highlighted future developments in corporate governance based on leading practices observed in G20 countries and OECD member states.