Nowadays and more than ever, the promotion of competitiveness is an indispensable prerequisite for any country that is looking for a bright future and willing to stimulate and maintain an environment that creates value for its projects and achieve more prosperity for its people.
Competitiveness is linked to improving the standard of living of citizens and achieving prosperity and stability, while providing job opportunities is linked to achieving sustainable economic development at high rates. Competitiveness helps to achieve this goal through improving the performance of various government and private sectors and diversifying the economy's productive base leading to the creation of new job opportunities, increasing the rates of establishing new businesses and consequently increasing the GDP. It is natural that improving the investment environment is the shortest way towards increasing investment rates, which is the main drive for economic growth.
In the context of the comprehensive economic reforms program as directed by the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz improving the investment environment and solving the difficulties faced by Saudi and foreign investors has been a high priority task that is given considerable attention in this program. SAGIA initiated its tasks to achieve this goal through harmonizing investment regimes with the real requirements of investors and creating an attractive investment environment for domestic and foreign investment in coordination with various Ministries and Government Agencies.
In an effort to improve the investment environment, SAGIA reviewed and analyzed many reports and studies, and found that the countries with higher standards of living and higher productivity levels were the most competitive countries. Thus, SAGIA worked on raising the competitiveness of the Kingdom believing that this would allow for finding radical solutions including expanding and diversifying the economic base and would contribute to stimulating the growth of business sector and improve private sector employment rates, as well as improving productivity levels in non-oil sectors.