Academics, Bankers Assert Importance of improving Competitiveness For Achieving Economic Diversification in Kingdom 2 Riyadh

For her part, the Professor of Business Administration at King Saud University and the World Institute of Commerce in Paris, Dr. Mounira bint Arab believed that the diversification of the economy requires a change in the methodology of economic activity and its mechanism to promote the production’s efficiency, achieve multiple resources for the State’s general budget, raise private sector’s efficiency and enhance competitiveness.
In the same context, the Professor of Economics at King Saud University and Vice President of the Saudi Economic Association Dr. Nora Al-Yousef said that the Kingdom entered a phase of economic diversification for nearly two decades, benefiting of $ 150 billion industrial investment base and more than 200 billion riyals non-oil exports, pointing out that the Kingdom’s non-oil GDP has become a more than half of the total GDP in nominal terms and that the share of private sector in the non-oil activity exceeded one-third of non-oil GDP.
It is worth mentioning that the Global Competitiveness Forum will be held this year under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and the presence of a number of international and local dignitaries.

–SPA
14:50 LOCAL TIME 11:50 GMT