RIYADH: Saudi Arabia’s Vision 2030 prioritizes enhancing the performance of government bodies and institutions across the public, private, and non-profit sectors, recognizing their vital role in driving economic growth, according to the Kingdom’s economy minister.
Speaking at the 7th edition of the King Abdulaziz Quality Award, Minister of Economy and Planning Faisal Alibrahim, who also chairs the award’s supervisory committee, said the initiative boosts competitiveness and strengthens the investment climate.
It also drives economic complexity and broadens the reach and quality of services both locally and globally — ultimately generating high-value jobs for the Saudi population, the Saudi Press Agency reported.
This aligns with the Kingdom’s progress in the 2024 World Competitiveness Yearbook published by the Swiss-based Institute for Management Development, which ranked Saudi Arabia 16th out of 67 of the world’s most competitive countries. The business efficiency axis, in particular, advanced from 13th to 12th place.
The overall ranking marked a one-position improvement for the Kingdom, driven by gains in business legislation and infrastructure, placing the Kingdom 4th among G20 countries.
