Saudi Arabia is accelerating its efforts to achieve a comprehensive structural transformation that aligns with global economic trends. The Kingdom is building a diversified economy grounded in a business-friendly environment for investors and entrepreneurs, with the ambition of establishing itself as a leading global hub for business and trade.
Within this framework, the National Competitiveness Center—working in close collaboration with government entities—is driving forward a series of reforms designed to address challenges across both the public and private sectors.
Additionally, the center has been entrusted with 14 core mandates aimed at improving the business climate, including monitoring government agencies’ adherence to required competitiveness reforms, cultivating strong partnerships with international competitiveness institutions, and applying best practices from top-performing countries in global competitiveness indices.
Moreover, recent official statistics underscore the positive momentum, with GDP expanding by 1.3% and commercial activity increasing by 6.4%, supported by the issuance of 1.6 million commercial registrations. As the Kingdom continues to strengthen its global competitiveness, it remains focused on attracting entrepreneurs to priority and emerging sectors—an effort further bolstered by the decision to permit 100% foreign ownership.
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