Saudi Gazette report
RIYADH — Saudi Arabia has achieved advanced positions in a number of global competitiveness indicators related to the financial market, the Capital Market Authority (CMA) said, citing the World Competitiveness Yearbook 2020.
The authority attributed the remarkable progress made at the global level to its efforts to develop the financial market sector and apply the best international practices.
Commenting on the achievement, CMA’s Undersecretary for Strategic and International Affairs Yazid Bin Saleh Al-Dumaiji, noted that Saudi Arabia ranked 24 for the year 2020 compared to 26 in 2019, in the global competitiveness of the International Institute for Administrative Development (IMD), among the most competitive 63 countries in the world.
He added that the Kingdom advanced in six indicators, the most prominent of which is the stock market capitalization index (as a percentage of GDP), as it jumped from…