Saudi Arabia has the “Best Investment Environment” in the Middle East and Arab World and the 13th rank among 183 countries surveyed by a World Bank affiliate. The Kingdom's ranking advanced from 16th in 2008, 38th in 2007 and 67th among the 135 countries in 2005, in the latest Doing Business 2010 report issued Tuesday by the International Finance Corp. (IFC). The positive assessment comes close on the heels of the global competitiveness rankings published by the World Economic Forum (WEF) Tuesday in which Saudi Arabia's rating dropped one place to 28th. Amr Dabbagh, Governor of the Saudi Arabian General Investment Authority (SAGIA) said the Kingdom was on track to achieving its 2010 goal announced four years ago of making it to the Top 10 in the IFC rankings. Dabbagh, on behalf of SAGIA and investors in the Kingdom, expressed thanks to King Abdullah, Custodian of the Two Holy Mosques, for spearheading economic reforms in the Kingdom and supporting SAGIA's Vision 10-10 program. IFC's competitiveness ranking is measured over 300 different parameters and is the most comprehensive assessment of a country's economic strength and ability to yield high returns on investment.
