Saudi Arabia sees most improvement in ease of doing business: World Bank

Arab News
October 25, 2019

Riyadh, Oct 25: Saudi Arabia is the most improved country in the world for doing business, the World Bank said on Thursday. The Kingdom leapt 30 places in the annual survey of business efficiency in 190 countries, and was the top reforming country — the highest ranking since the bank launched its “Doing Business” survey 20 years ago.

The country now ranks 62nd in the world, ahead of many larger economies such as India, and it has introduced more reforms than China or Pakistan.

“Today, Saudi Arabia is celebrating,” Commerce and Investment Minister Majid Al-Qasabi said at the launch of the report in Riyadh. “And it is the outcome of tremendous efforts since the launch of Vision 2030.”

Simeon Djankov, the World Bank executive responsible for the report, said Saudi reformers had shown that “things that seemed impossible can be possible. Now the job remains to convince the rest of the world so they understand Saudi Arabia is open for business.”

“Something clearly is happening in the Gulf which has not happened before,” Djankov said.

The report ranked countries on their business climates, and found that the most improved countries over the previous year were in the Middle East – including Saudi Arabia, Jordan, Bahrain, and Kuwait.

“Achieving Aramco IPO is the single most important thing Saudi Arabia can do to improve its global business image," Djankov told Arab News. The time taken to start a business had been dramatically reduced and new online systems had speeded up export-import commerce, Djankov said. He also praised efforts to include more women in the workforce.

“A nation prospers when all its citizens benefit,” he said. “There are many areas in Saudi Arabia where women are on a par with men now, and the world should know about it.Thursday’s event also marked the inauguration of the National Competitiveness Centre, Tayseer, which will drive the Kingdom’s progress in business reform. Assistant Commerce Minister Iman Al-Mutairi, CEO of National Competitive Center (NCC), said the World Bank report was a “quantum leap” for the business community.

Saudi Arabia launched reforms in eight areas monitored by the World Bank, more than any other country. The report, based on interviews with 50,000 global private-sector executives, found the Kingdom had made the greatest progress in the area of business start-up. “It now costs only 5.4 percent of income per capita for an entrepreneur to start a business, which is lower than the Middle East and North Africa regional average of 16.7 per cent,” it said.

There has also been significant improvement in areas such as registry property and construction permits, and in the ease of obtaining electricity connections.

“Saudi Arabia’s impressive reforms … show its commitment to fulfilling a main pillar of its Vision 2030: A thriving economy,” said Issam Abousleiman, the World Bank’s GCC regional director.

Djankov said the Kingdom must now press on with reforms. “Why not repeat this performance next year, and the year after? The aim should be to be a better place to do business than Germany, France or the UK.” The World Bank said Saudi Arabia’s reforms included establishing a one-stop-shop for business registration, introducing a secured transactions law and an insolvency law, improving protections for minority investors, and measures to bring more women into the workforce.

“Everybody here in this region figured out we better diversify the economy in some direction and I think this is actually why the reforms are happening now,” he added.

The report coincides with the scheduled appearance of World Bank President David Malpass at a Saudi investment conference next week. The US Treasury Secretary Steven Mnuchin and presidential adviser Jared Kushner would also attend the conference.

“Removing barriers facing entrepreneurs generates better jobs, more tax revenues, and higher incomes, all of which are necessary to reduce poverty and raise living standards,” Malpass said in a statement.

The top 10 rankings in the survey were largely unchanged from a year ago, with New Zealand holding its top spot, followed by Singapore, Hong Kong, Denmark, South Korea, the United States, Georgia, Britain, Norway and Sweden.

Latin American countries lagged in the rankings, with Argentina falling seven places to 126th, and Mexico, the region’s highest-ranking economy, falling six spots to 60th.

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News Network
January 12,2020

Tehran, Jan 12: Iranian police dispersed students chanting “radical” slogans during a Saturday gathering in Tehran to honour the 176 people killed when an Ukrainian airliner was mistakenly shot down, Fars news agency reported.

News agency correspondents said hundreds of students gathered early in the evening at Amir Kabir University, in downtown Tehran, to pay respects to those killed in the air disaster. The tribute later turned into an angry demonstration.

The students chanted slogans denouncing "liars" and demanded the resignation and prosecution of those responsible for downing the plane and allegedly covering up the accidental action.

Iran said Saturday that the Ukraine International Airlines Boeing 737 was “unintentionally” shot down on Wednesday shortly after taking off from Tehran's main airport. All 176 people on board died, mostly Iranians and Canadians, many of whom were students.

Fars, which is close to conservatives, said the protesting students chanted “destructive” and “radical” slogans. The news agency said some of the students tore down posters of Qasem Soleimani, the Iranian general killed on January 3 in a US drone strike on Baghdad.

Fars published pictures of demonstrators gathered around a ring of candles during the tribute and a picture of a torn poster bearing the image of a smiling Soleimani. It said that police "dispersed" them as they left the university and blocked streets, causing a traffic jam.

In an extremely unusual move, state television mentioned the protest, reporting that the students shouted "anti-regime" slogans.

A video purportedly of the protest circulated online showing police firing tear gas at protesters and a man getting up after apparently being hit in the leg by a projectile. It was not possible to verify the location of the video, or when it was filmed.

Iran's acknowledgement on Saturday that the plane had been shot down in error came after officials had for days categorically denied Western claims that it had been struck by a missile. The aerospace commander of Iran's Revolutionary Guards accepted full responsibility.

But Brigadier General Amirali Hajizadeh said the missile operator acted independently, shooting down the Boeing 737 after mistaking it for a "cruise missile".

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News Network
April 28,2020

Dubai, Apr 28: Riyadh municipality has announced 13 requirements to restore commercial activity in malls starting Wednesday (April 29), in accordance with the government’s coronavirus precautionary measures.

The requirements include: the continued closure of all entertainment and playing areas inside malls, and not allowing the entry of children under the age of 15.

The municipality requires all malls to ensure the availability of medical examination and sterilization teams to measure the temperature of all individuals entering the mall at all entrances throughout opening hours, prevent any person with a temperature exceeding 38 degrees Celsius from entering, remove all chairs and benches in the corridors, and provide masks and gloves for visitors at the entrances.

All malls are to have security personnel stationed at all entrances to ensure that visitors are wearing masks.

The municipality also requires all malls to sterilize the entire facility every 24 hours, allocate rooms for medical isolation when there is any suspicion of an individual being infected with COVID-19, ensure the presence of a sufficient number of security personnel, and carry out regular rounds to verify full compliance, and suspend the valet service.

It also called for malls to put up explanatory signs of the guidelines to ensure that everyone understands the precautionary measures.

Malls should rely on the use of escalators and stairs for movement between floors, and in the event they are not available, only two people are allowed to ride the elevator at a time.

Revised curfew

Saudi Arabia had revised on April 21 its coronavirus curfew timings for the holy month of Ramadan, allowing residents in all areas and cities not currently under a 24-horu lockdown to go out between 9 a.m. and 5 p.m.

However, areas under a complete lockdown will only be allowed to go out for essential needs, such as grocery shopping or medical visits, between the hours of 9 a.m. and 5 p.m. Residents in these areas must stay within their neighborhoods

A 24-hour lockdown was previously imposed on the cities of Riyadh, Tabuk, Dammam, Dhahran, and Hofuf and throughout the governorates of Jeddah, Taif, Qatif, and Khobar.

The government had imposed a full lockdown on the holy cities of Makkah and Madinah as well. Other cities and governorates had a curfew implemented from 3 p.m. to 6 a.m. daily.

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coastaldigest.com news network
June 16,2020

Dubai, Jun 16: In a humanitarian gesture, a UAE-based Pakistani businessman has come forward to offer free interim accommodation options to covid lockdown hit expatriates. 

The men benefitted from Ali Rao's housing initiative include Indians, Pakistanis and Africans. 

Inspired by the ongoing efforts taken by the UAE leadership to take care of all UAE residents, Ali Rao, CEO of Rao Holdings LLC in Dubai is offering free shared accommodation to unemployed male bachelors and workers, especially expatriates who do not have a place to stay.

Ali Rao currently has a capacity of 100 accommodation options that he wishes to offer to those who cannot afford house rent. 

"We have already placed 25 such men in these housing options spread across Al Quoz, Jebel Ali and Muhaisnah areas of Dubai," Ali Rao told local media. He works in collaboration with major charities in Dubai, who refer the cases to Rao.

"One of our companies - the property management division - deals with industrial housing accommodation. We decided to put this space to good use when I came across media articles that highlighted the plight of these homeless men," he said. 

Rao has already sheltered 25 homeless workers in the Al Quoz area. "We have received applications for 35 more, however, many of these men are due to return to their home countries, so we are awaiting confirmation from the charities," he explained. He has provided them with free Wi-Fi, bedding, blankets, bedsheets, and pillows.

"In one unit, we provide them with food and the other unit, social workers and the associated charities deliver food," he added. The housing is exclusively for men and not for women and families. "Many are seeking jobs, so they needed Wi-Fi. I went to the camps today and set up a Wi-Fi connection. Someone wanted to eat eggs, so we got him some eggs and rice. These are simple things most of us take for granted, but to many people this is vital," he added.

Since most of the residents are looking to return to their home countries, Rao is also in the process of providing them with air tickets.

"If the need arises, we will add more units," he explained. Rao said, "The ongoing pandemic has hit everyone hard, especially those with no security to fall back on. The economic and income disparities have only increased in this time, with those dependent on daily wages being rendered homeless in massive numbers across the globe."

He added, "I felt heartbroken and if I would stand by and watch, I would feel very small as a human being, I won't be able to stand in front of the creator I thought to myself. These are some very difficult times for all of us."

A beneficiary of the programme said, "I am very happy with this initiative as living outside in the summer is very difficult. It's very hot. I want to thank God and this company for providing me with a roof over my head."

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