RIYADH: The Kingdom celebrated World Entrepreneur’s Day 2021 by recording success in four international entrepreneurship indicators.
According to the Global Entrepreneurship Monitor Index, Saudi Arabia ranked first out of 45 countries in the following categories: Good opportunities to start a business, ease to start a business, business response to the pandemic, and government response to the pandemic.
The National Center for Performance Measurement, which monitors the index, also said that Saudi Arabia ranked second in a further two categories: Individual skills and knowledge, and infrastructure.
It ranked third in the following categories: Ease of access to corporate and business finance, and ease of access to markets and market dynamics. It placed fourth out of the 45 countries for government support for business, and lack of barriers and ease of regulations for market access.
The rankings have been attributed to the efforts and incentives from the country’s leadership to support entrepreneurs, in line with the Kingdom’s Vision 2030 led by Crown Prince Mohammed bin Salman.
Efforts from the Ministry of Commerce, led by Majid Al-Qasabi, have also enabled the country to be considered highly in terms of entrepreneurship and doing business.
The center follows up on the Kingdom’s progress and performance through the International Performance Hub, which compares the country’s performance against 217 others. It monitors and follows up on international indicators, while the hub provides an overview of the Kingdom’s performance in 700 key performance indicators under 12 main pillars.