Saudi Arabia will further simplify procedures for doing business by implementing the 60/24/7 program that the Kingdom announced for international investors during the recent Global Economic Forum in Riyadh, Amr Abdullah Al-Dabbagh, Governor of the Saudi Arabian General Investment Authority (SAGIA), said here Monday. The 60/24/7 program is a mandate to provide all governmental services to investors and residents within 60 minutes, 24 hours a day, seven days a week. Al-Dabbagh, who received a British trade and investment delegation headed by Prince Andrew, Duke of York, in his office Monday, said the program will be implemented on a priority basis in economic cities that are being established in various parts of the Kingdom. He highlighted the Kingdom's attractive investment climate created during the ambitious 10x10 program in which Saudi Arabia attained the rank of 13th in the world for creating a business climate in which innovation, excellence and competitiveness are prioritized. He indicated that the 60/24/7 program would go beyond SAGIA's 10x10, the most ambitious project to date aimed at positioning the Kingdom as one of the top 10 countries in global competitiveness to attract foreign investment by 2010. To keep the competitiveness edge over other countries and to attract international investment, the economic cities will get priority for the implementation of the 60/24/7 program, Al-Dabbagh said. According to the Business Performance Report, published by the World Bank's International Finance Corporation, Saudi Arabia ranked first in the Middle East in foreign direct investment.
