Saudi Knowledge Hub Launches Inaugural Workshop To Foster Global Economic Reform Culture

The Saudi Knowledge Hub (K-Hub) initiated its first workshop in Riyadh, aiming to enhance international cooperation and promote economic reforms globally. This event, part of a partnership between Saudi Arabia's National Competitiveness Center and the World Bank Group, gathered 36 government officials from Jordan, Iraq, Zambia, Gambia, and the World Bank Group. The workshop focused on sharing experiences in business start-up reforms.

Vice Minister of Commerce and CEO of the National Competitiveness Center Eiman Al-Mutairi emphasized the transformative vision introduced by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud. She stated that this vision has significantly reshaped the Saudi economy. The collaboration with the World Bank Group led to the creation of the K-Hub initiative, which aims to foster international cooperation and support sustainable development in beneficiary countries.

Al-Mutairi highlighted key reforms that have enhanced Saudi Arabia’s competitiveness. Since 2016, 65 Saudi government entities have implemented over 900 economic reforms across major sectors. Additionally, 1,200 statutes and regulations have been issued or updated. These efforts have positioned Saudi Arabia as a leading destination for businesses and investors worldwide.

The workshop titled "Knowledge Exchange Workshop on Business Start-Up Reforms" aimed to strengthen peer-to-peer learning around business-startup reform experiences. The K-Hub plans to conduct more workshops and activities tailored to the needs of participating countries. These initiatives align with its mission to exchange knowledge and build capacity for countries seeking successful economic reform models.

The hub focuses on developing innovative solutions and policies to enhance competitiveness, particularly in business environment reforms. It aims to boost productivity, entrepreneurship, small and medium enterprises, and innovation development. The Saudi Business Center was highlighted as a global model for establishing effective government service hubs for the private sector.

The three-day workshop showcased proposals, recommendations, and experiences that help strengthen business environments. It featured the comprehensive experience of the Saudi Business Center in implementing reforms and designing a unified platform that streamlines business processes. The K-Hub's initiatives align with its research, advisory, and analytical functions.

Al-Mutairi noted that the partnership between the Kingdom and the World Bank Group led to the launch of this pioneering initiative. The K-Hub aims to advance sustainable development in beneficiary countries and support them in achieving their development goals. This effort underscores Saudi Arabia's commitment to fostering global economic cooperation.

With inputs from SPA