Merging competitiveness and business centers to boost Saudi Arabia's economy
A strategic step towards Vision 2030
His Excellency Dr. Majid bin Abdullah Al-Qasabi, Chairman of the Board of Directors of the National Competitiveness Center and the Saudi Center for Economic Business, affirmed that the Cabinet's decision to merge the two centers under a single umbrella, the "Saudi Center for Competitiveness and Business," represents a pivotal strategic step in the Kingdom's ongoing economic reforms. Al-Qasabi explained that this decision aims to unify efforts and enhance efficiency, directly contributing to improving the Kingdom's competitiveness regionally and internationally, and elevating its ranking in relevant global indicators and reports.
General context: Culmination of economic reform efforts
This merger comes within the broader context of the Kingdom's Vision 2030 objectives, which prioritize empowering the private sector and diversifying the economy. Since their inception, the two centers have played complementary roles. The National Competitiveness Center (formerly Tayseer) focused on studying and analyzing regulations and procedures and proposing legislative and regulatory reforms to remove obstacles facing the private sector. Meanwhile, the Saudi Center for Economic Business served as the executive arm, aiming to facilitate the investor journey by providing government services through a unified and comprehensive platform. Today, the new entity combines strategic planning with effective implementation, creating a more responsive and efficient system for meeting the needs of the business sector.
The importance of integration and its expected impact
This decision is expected to have multiple positive impacts. At the local level, entrepreneurs and business owners will feel a tangible difference through the unification of communication channels with government entities, the reduction of bureaucratic procedures, and the acceleration of transaction processing. The unified center will continue to provide more than 6,000 government services through its unified business platform and its branches spread across 15 cities, ensuring access to services for all investors throughout the Kingdom. The center will also serve as a unified channel for monitoring the challenges facing the private sector, enabling the government to implement precise and targeted reforms to effectively address these challenges.
Enhancing investment attractiveness on the international stage
Internationally, this merger sends a strong message to foreign investors that Saudi Arabia is committed to creating an attractive and stimulating investment environment that meets global best practices. Having a single entity responsible for competitiveness and business services enhances the transparency and clarity of regulations and reduces investment risks. This, in turn, will boost foreign direct investment and support international partnerships in knowledge transfer and expertise exchange, accelerating sustainable economic development and positioning the Kingdom's business environment as a global model of quality and efficiency.
