Kingdom ranks third globally in Digital Transformation Index for companies
The Kingdom of Saudi Arabia has achieved a significant feat by securing the third spot globally in the Digital Transformation Index for companies, as disclosed in the IMD World Competitiveness Yearbook 2023 report.
This accomplishment serves as a testament to the Ministry of Commerce's unwavering commitment to the corporate sector, service automation, and the implementation of the new Companies Law, aimed at fostering and bolstering the national economy.
Notably, the Kingdom has made gigantic leap across various key indicators associated with the business sector, notably soaring ten ranks in the Capital Cost Index, which promotes business growth and innovation, securing the third position on a global scale.
The Kingdom has made a significant leap in several key global indexes. In the Trade Exchange Index (exports to imports), it soared to the fourth position worldwide, a remarkable climb from its previous rank of 54 in 2022.
Similarly, in the Consumer Price Inflation Index (average annual rate), the Kingdom surged to the third spot globally, showcasing an impressive advancement from its previous position of 33.
Moreover, in the Legislation Support Index for Business Formation, the Kingdom made notable progress, ascending nine places to secure the seventh rank on a global scale. Additionally, in the Large Companies Index (known for its adherence to high standards of efficiency), the Kingdom leaped an impressive 12 spots, securing the prestigious 10th position globally.
The Kingdom made a remarkable and substantial progress by attaining the third spot among G20 nations and 17th globally in the highly regarded IMD World Competitiveness Yearbook. Published by the IMD World Competitiveness Center in Lausanne, Switzerland, this influential report serves as a crucial point of reference for international organizations and institutions. It assesses 64 countries worldwide across four primary dimensions and over 300 sub-indicators, establishing it as a comprehensive and authoritative benchmark for evaluating global competitiveness.