Third Global Competitiveness Forum starts next week 2 Riyadh

Back in10 September 2008, the World Bank placed the Kingdom of Saudi
Arabia 16 in the world in its annual “Ease of Doing Business” report.


For the second consecutive year, the report ranks Saudi Arabia as the
best place to do business in the entire Middle East and Arab World,
ahead of Bahrain, the UAE and Kuwait. The report also ranks Saudi
Arabia ahead of advanced economies such as Germany and Austria.

The World Bank recognized a number of recent reforms which enabled
Saudi Arabia to reach the top 20. Improvements to business and
property registration procedures made it easier and less costly to
start a business and register real estate deeds. Protection of public
company investors was enhanced with a series of new laws from the
Capital Market Authority and the Ministry of Commerce and Industry.
Port fees were cut by 50%, making it more affordable to trade across
borders. Also, strict deadlines were placed on bankruptcy procedures,
helping to expedite court proceedings and better protect creditors.
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