The National Competitiveness Center and the World Bank Group announced today in Washington their intention to establish a Knowledge Center in the kingdom of Saudi Arabia to spread the culture of economic reforms to the world.

During the announcement, which was attended by Princess Reema bint Bandar bin Sultan bin Abdulaziz, Ambassador of the custodian of the Two Holy Mosques to the United States of America, chairman of the Bank Group Mr. Ajay Banga, chief economist of the World Bank Group and senior vice president for development economics Dr. Indermeet Gill, Minister of Commerce and chairman of the board of Directors of the National Competitiveness Center in the kingdom of Saudi Arabia Dr. Majid bin Abdullah Al Qasabi - This occasion comes as a confirmation of the great progress achieved by the kingdom in the reports and indicators of global competitiveness, and that the Knowledge Center to be established will pave the way for further regional and global cooperation in the fields of competitiveness, and will allow to benefit from the experience of the kingdom in the implementation of economic reforms and their impact on enhancing its competitiveness, in addition to using the World Bank's expertise that extends for more than 50 years.