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.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
July 23,2020

Abu Dhabi, Jul 23: Muslims in the United Arab Emirates have been asked to perform Eid Al-Adha prayers at home even as mosques will be allowed to operate at an increased capacity of 50 percent from Aug. 3.

Mosques in the UAE have been operating at 30 percent capacity after they reopened on July 1.

Announcing the move, Dr. Saif Al Dhaheri, the official spokesman for the National Emergency, Crisis and Disasters Management Authority, stated that after assessing the situation and coordinating with the concerned authorities, it was decided that Eid Al-Adha prayers would be conducted in homes and takbeers broadcast through visual and audio means.

He also announced that the Emirates Fatwa Council has recommended that donations and sacrifices should be to official charitable causes in the country only.

Al Dhaheri advised the public to donate during this time to the official charitable bodies in the country with sacrifices and donations, through smart applications concerned with sacrifices or through slaughterhouses outlined by the local authorities that guarantee the application of precautionary and preventive measures and provide remote services without the need to enter livestock markets or slaughterhouses.

Al Dhaheri stressed the need to avoid family visits and gatherings, and replace them using electronic means of communication or phone contact, as well as refraining from distributing Eid gifts and money to children and individuals during this occasion recommending to instead use of electronic alternatives.

Al Dhaheri pointed out that it is necessary to avoid visiting pregnant women, children and those with chronic diseases who are most vulnerable to COVID-19 and not to allow them to leave the home and avoid going out to public places to preserve their health and safety.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Saudi Gazette
May 27,2020

Riyadh, May 27: Following the announcement of easing of lockdown measures, which includes reopening of all mosques for daily congressional as well as Friday prayers across the Kingdom except the holy city of Makkah, the Ministry of Islamic Affairs, Call and Guidance has set mandatory guidelines.

In a circular issued to mosque staff, Minister of Islamic Affairs, Call and Guidance Sheikh Abdullatif Al-Asheikh has instructed that all mosques must comply with the following precautionary measures and instructions:

1. Open mosques 15 minutes before the Adhan and close them 10 minutes after prayer

2. Reduce the waiting period between the Adhan and Iqamah to 10 minutes

3. Open windows and doors from entering time to the end of the prayer

4. Remove copies of Holy Qur’an and other books temporarily from mosques

5. Ensure attendees keep a distance of two meters between each other

6. Ensure one space is left between each row

7. Close all water coolers and refrigerators

8. Do not allow distribution of water or food in mosques

9. Close toilets and places of ablution

Precautionary measures on Friday prayers are as follows:

1. Open mosques 20 minutes before Friday prayer and closing them 20 minutes after prayer.

2. Friday sermon with prayer should not exceed 15 minutes.

The circular also stipulates to keep the suspension of the religious courses, programs and lectures, as well as the memorizing Holy Qur'an sessions in the mosques and to continue education and lectures remotely until further notice.

The circular pointed out that the imams of mosques should urge the worshipers to take the following precautionary measures:

1. Wear a face mask

2. Bring their own prayer rugs and not leave them after the prayer

3. Prevent accompanying children under 15 years of age from entering mosques

4. Perform ablution at home

5. Avoid crowding when entering or exiting mosques

Meanwhile, the spokesman of the Ministry of Interior clarified later in the day that people are allowed to perform congressional prayers in their locality during the time of curfew.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
July 31,2020

Jeddah, Jul 31: Hajj 2020 pilgrims arrived in Muzdalifah Thursday night to rest after spending the day in Arafat.

Earlier, the pilgrims scaled Mount Arafat to pray and repent, as a highly unusual Hajj approached its climax. They listened to a sermon delivered by Sheikh Abdullah Al-Manea and prayed Dhuhr and Asr prayers together at the Al-Namirah Mosque in Arafat.

This year’s pilgrimage is the smallest in modern times, after the number of participants was greatly restricted to prevent the spread of the coronavirus. 

Tight security was in place around the foot of the rocky hill outside Makkah, also known as Jabal Al-Rahma or Mount of Mercy, in preparation for the high point of the annual ritual.

Video footage shown on state television showed the pilgrims setting off on their climb to the summit. They wore face masks and observed strict social-distancing rules imposed by Saudi authorities.As sprinklers sprayed water on them to provide relief from the summer desert heat, the pilgrims raised their palms as they climbed the slopes of the hill — the site of Prophet Muhammad’s last sermon. When they reached the top they recited holy verses and prayed for forgiveness for their sins.

Earlier, the pilgrims were taken in buses from Mina to Mount Arafat. Strict precautionary measures were in place, with each group accompanied by security teams, ambulances and civil defense vehicles. 

When they arrived, their temperatures were checked before they entered Namirah Mosque to hear a sermon that was translated into 10 languages.

“The camps were set up for pilgrims in Arafat early on,” said Minister of Hajj and Umrah Muhammad Salih Bentin. The sermon at Namirah Mosque was delivered by Sheikh Abdullah Al-Manea, who led the pilgrims in noon and afternoon prayers.

“During Hajj this year, we reiterate that it is essential for pilgrims, as well as everyone assisting them, to adhere to the precautionary regulations that have been implemented,” Al-Manea, a member of the Council of Senior Scholars, said during his sermon. “This is to be done for their own safety.

“Precautions have been put in place to protect lives against the damage that the pandemic can cause, and also to actualize Islam’s teachings pertaining to safeguarding human life by Allah’s permission.”

The stay in Arafat is described as the pinnacle of Hajj and Muslims around the world reflect the actions of pilgrims by asking for forgiveness and praying for their deepest desires.
Pilgrims left Arafat in coaches for Muzdalifah after sunset and will pray the Maghrib and Isha prayers there.

After sunset prayers, the pilgrims made their way down Mount Arafat to Muzdalifah, where they will spend the night before the final Hajj ritual, the symbolic stoning of the devil. 

This year, each pilgrim received sanitized pebbles in advance of the event on Friday, which is the first day of Eid Al-Adha.
This year the Kingdom faced the unprecedented challenge of ensuring pilgrims attending Hajj were protected as much as possible from the risks of the coronavirus.

They will then sleep, pray the Fajr prayer there tomorrow and then leave for Mina.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.