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Saudi Arabia Organizes Fifth Global Competitiveness Forum

Global Arab Network - - Ayman Khalil

Monday, 24 January 2011 01:41

Saudi_Arabia_Global_Competitiveness_Forum

Saudi (RIYADH) - Enhancing the competitiveness of national economy as well as Saudi domestic products in local and overseas markets is the main pillar of the Ninth Development Plan of the Kingdom of Saudi Arabia for the period from 2010 to 2014, a Saudi top official said.

In a speech delivered at the opening of the Fifth Global Competitiveness Forum here last night, Naif bin Abdulaziz Al Saud, Second Deputy Premier and Minister of Interior, said: "The Kingdom of Saudi Arabia gives top priority to raising the competitiveness of its economy in addition to encouraging Saudi, joint and foreign investments by granting them many incentives and facilities. "The main pillar of the Ninth Development Plan of the Kingdom of Saudi Arabia for the period from 2010 to 2014 is to enhance the competitiveness of national economy as well as Saudi products in domestic and overseas markets", Prince Naif said.

"I would like to point out that the most important objective of the development plan in the Kingdom of Saudi Arabia is to shift to a knowledge-based society and to promote creativity and innovation culture", he added.

"The security and stability as well as the economic, regulatory and investment reforms witnessed by the Kingdom of Saudi Arabia have led to a significant increase in the flow of investments of international companies that have chosen the Kingdom of Saudi Arabia as one of the best investment destinations with low-risk investment", the second deputy premier and interior minister said.

Held under the theme "Innovation as a Means to Competitiveness", the forum is organized by the Saudi Arabian General Investment Authority (SAGIA) and the participation of more than 100 top economists.

Global Arab Network

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