Arab News, Sun, Apr 21, 2024 | Shawwal 12, 1445
World Bank chooses Saudi Arabia as location for new knowledge hub
Saudi Arabia:
A knowledge hub will be established in Saudi Arabia in a partnership between the
Kingdom’s National Competitiveness Center and the World Bank Group, it was
announced in Washington DC on Friday.
The new knowledge center will serve as a hub for
sharing Saudi Arabia’s experience of economic reform and enhancing regional and
global competitiveness collaborations with other countries looking to boost
their economic standings, a statement released by the NCC said.
Saudi Minister of Commerce Majid Al-Qasabi, who is
also chairman of the NCC board of directors, said the deal was testament to the
significant progress made by the Kingdom in global competitiveness reports and
indicators, which had been made possible by the leadership of Crown Prince
Mohammed bin Salman.
Saudi ambassador to the US, Princess Reema bint
Bandar, the President of the World Bank Group Ajay Banga and the Chief Economist
of the World Bank Group Intermit Gill also attended the announcement event.
The hub, currently in the preparatory stage, will
be overseen by a founding committee including the ministries of finance,
economy, and planning, alongside several relevant government agencies.