Saudi Arabia globally ranked third in terms of macroeconomic stability, according to the classification of global competitiveness report for 2007 / 2008 issued today by the World Economic Forum. The report included the Kingdom for the first time in the best classified state newly added to it, while it ranked thirty-fifth out of 131 countries in the world preceding the United Arab Emirates (37), Oman (42), Bahrain (43) and Jordan (49) in the region, and some advanced countries such as Portugal (40) and Italy (46). The World Economic Forum stressed that Saudi macroeconomic stability is an important factor in improving Kingdom's competitiveness in attracting investments, as well as its enjoyment of sound financial environment, relatively low interest rates and inflation under control. The report also commended the Kingdom's entry into financial and foreign markets. In this regard, the Governor of Saudi Arabian General Investment Authority Amr Al-Dabbagh said that under the wise leadership of The Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz and the Crown Prince, the Kingdom of Saudi Arabia has determined to be on the list of top ten countries in the world in terms competitiveness by the year 2010. Joining the list of countries classified by the World Economic Forum, Saudi Arabia can look forward to more effective reforms to achieve that goal and highlight characteristics of super competitiveness, he said.
