Several countries have expressed interest in adopting Saudi Arabia’s innovative competitiveness model
Saudi Arabia has joined forces with the World Bank to create a global knowledge hub aimed at fostering sustainable development and sharing expertise in economic reforms. This is reported by Arab News.
The strategic agreement will serve as a platform for countries to benefit from Saudi Arabia’s extensive experience in implementing transformative reforms.
Over the past seven years, the Kingdom has spearheaded more than 800 economic and developmental reforms, coordinated through government entities.
According to the officials, several countries have expressed interest in adopting Saudi Arabia’s innovative competitiveness model to enhance their own economic frameworks.
The knowledge hub will focus on sharing expertise in key areas such as business environment improvement, entrepreneurship, small and medium-sized enterprises, innovation, trade policy, and investment promotion. It will also support economic diversification, export growth, and public resource optimisation.
Activities at the hub will also include research, advisory services, capacity building, and the development of innovative solutions tailored.
Photo: iStock
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