Arab News, Sunday, Aug 22, 2021 | Muharram 14, 1443
Saudi Arabia ranks first in four entrepreneurship indicators
Saudi Arabia:
The Kingdom celebrated World
Entrepreneur’s Day 2021 by recording success in four international
entrepreneurship indicators.
According to the Global Entrepreneurship Monitor Index, Saudi Arabia ranked
first out of 45 countries in the following categories: Good opportunities to
start a business, ease to start a business, business response to the pandemic,
and government response to the pandemic.
The National Center for Performance Measurement, which monitors the index, also
said that Saudi Arabia ranked second in a further two categories: Individual
skills and knowledge, and infrastructure.
It ranked third in the following categories: Ease of access to corporate and
business finance, and ease of access to markets and market dynamics. It placed
fourth out of the 45 countries for government support for business, and lack of
barriers and ease of regulations for market access.
The rankings have been attributed to the efforts
and incentives from the country’s leadership to support entrepreneurs, in line
with the Kingdom’s Vision 2030 led by Crown Prince Mohammed bin Salman.
Efforts from the Ministry of Commerce, led by Majid Al-Qasabi, have also enabled
the country to be considered highly in terms of entrepreneurship and doing
business.
The center follows up on the Kingdom’s progress and performance through the
International Performance Hub, which compares the country’s performance against
217 others. It monitors and follows up on international indicators, while the
hub provides an overview of the Kingdom’s performance in 700 key performance
indicators under 12 main pillars.