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Saudi Arabia is the first in the world in terms of easy investment

Saudi Arabia has made qualitative progress, jumping 72 global ranks to become the first country in the world in terms of ease of doing business in it, according to the World Bank Group’s 2020 Business Performance Report.

The report pointed out that Saudi Arabia achieved that huge leap in the “cross-border trade index”, which compares the time and cost of importing and exporting goods.

The Saudi Minister of Transport, Saleh Al-Jasser, confirmed that this appeared thanks to a series of legislative reforms introduced in the Saudi logistic platform, which included reducing the period of customs clearance from 7-10 days to 24 hours, reducing the manual inspection rate in customs from 89% to 48%, and reducing the number of documents required for import from 12 to two documents, and from 8 to 2 export documents.

The World Bank Group indicated, according to the “Business Wire” service, that during the past 10 years, Saudi Arabia has invested more than $ 100 billion in transportation and basic logistics.