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Kingdom of Saudi Arabia Ranks 82nd in World Bank New Methodology Standards.

Riyadh, Muharram 15, 1437, Oct 28, 2015, SPA -- The Kingdom of Saudi Arabia has been raised two places to occupy the 82nd place among 189 countries in the world according to the new methodology standards issued by the World Bank's report on "Doing Business for 2016" targeting local investors.

Fundamental amendments were made to the report's methodology which reassessed the member countries participating in it, including the Kingdom of Saudi Arabia which was, based on Methodology Report 2015 occupies the 49th place, which is equivalent, according to the new methodology report 2016, to the 84th place.

According to the World Bank, the methodology's amendments covered several key indicators, including the completion of the expansion of the scope of measurement in each index to enhance the accuracy of assessment and classification, identify the main obstacles faced by the domestic business sector in the countries covered by the report, such as registration of property, obtaining building permits, getting electricity, enforcing contracts and trading across borders.

--SPA

14:27 LOCAL TIME 11:27 GMT

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Publication:Saudi Press Agency (SPA)
Date:Oct 28, 2015
Words:185
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