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Saudi Arabian Responsible Competitiveness Initiative

“Saudi Arabian Responsible Competitiveness Initiative”
launched by Saudi Arabian General Investment Authority and global think tank AccountAbility

February 21, Washington D.C. – A Memorandum of Understanding was signed yesterday between the Saudi Arabian General Investment Authority (SAGIA) and AccountAbility to implement a three-year programme, ‘Saudi Arabian Responsible Competitiveness Initiative’, aimed at enhancing Saudi Arabia’s global competitiveness by advancing responsible business behaviour and enabling public policies.

At the core of the Initiative will be the launch of a Responsible Competitiveness Index for Saudi Arabia that will connect company-level and country-level data, and offer comparative analysis with other country’s progress in advancing responsible competitiveness strategies and practices. This work will be supported and disseminated through Roundtables and capacity development.

AccountAbility’s international Responsible Competitiveness Initiative is now active in numerous regions and countries, including Brazil, China and India and Europe and Latin America. It includes the unique, global Responsible Competitiveness Index measuring the progress by over 100 countries in embedding responsible business practices in their economies and so underpinning competitiveness.

AccountAbility, facilitated by SAGIA and with other Saudi Arabian partners will design and implement the Initiative. The Governor and Chairman of the Board of SAGIA, Amr A. Al-Dabbagh said “Our interest is to engage the private sector in enhancing the country’s competitiveness through contributing to human and social capital development and environmental innovation, we will give overall support and endorsement to the initiative and we will have a lead role in the launch and its communication”. Simon Zadek, AccountAbility Chief Executive, said, “Saudi Arabia’s leadership in recognising the key role of responsible business practices in advancing international competitiveness is a wake up call to governments and businesses everywhere that responsible competitiveness strategies will be key to succeeding in tomorrow’s markets”.