RIYADH: Saudi authorities in collaboration with the World Bank Group announced to establish a knowledge center, aimed at promoting global economic reforms, local media reported.
According to the Kingdom media outlet, the announcement was made by the National Competitiveness Center (NCC) of Saudi Arabia along with representatives of the World Bank (WB) Group in Washington DC.
The new knowledge centre aimed at becoming a focal point for exchanging reform-related experiences from Saudi Arabia and strengthening partnerships for regional and international competitiveness.
The centre also seeks to assist other nations seeking to improve their economic circumstances by utilising the World Bank’s vast experience and the Kingdom’s reform accomplishments.
During the ceremony, Saudi Minister of Commerce and Chairman of the NCC Dr. Majid Al-Qasabi met with World Bank representatives as they shared commitment to boosting global economic competitiveness.
In a continuous attempt to create economic reforms based on the finest global business practices, Saudi Arabia and the World Bank have taken a major step forward with this initiative. It is anticipated that the center will make a significant contribution to the global dissemination of reform tactics, highlighting Saudi Arabia’s position as a frontrunner in economic reform.
A number of Saudi departments and organisations will be involved in the knowledge center’s setup, carrying on the work that the NCC began when it was founded in 2019.
The center’s primary goals would be to integrate more than 800 improvements made possible by working with pertinent government agencies and to facilitate corporate operations in important areas.
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