Saudi official calls for boosting competitiveness of nat''l production  

(MENAFN - Kuwait News Agency (KUNA)) Saudi Commerce and Industry Minister Dr. Hashim Yamani underscored on Sunday the necessity of boosting the competitive ability of national production sectors.

During the eighth Jeddah Economic Forum, Yamani said global economy was currently witnessing a very dynamic phase through direct interaction between global markets and great technological advances.

Now is an opportunity for every nation to make gains from international competitiveness and achieving better economic levels to meet the needs of current and future generations, he said.

While outlining Saudi Arabia's strategy to develop the competitiveness of its production sectors, he said the application of current economic reforms was quite fruitful and productive.

In the coming period, the kingdom will focus on developing an attractive investment environment, establishing economic alliances, updating information and communication technology, as well as encouraging investments in certain sectors, such as energy, transportation and knowledge-based industries.

Entitled "Economic Reform: Flourishing Grounds and Expanding Horizons," the forum kicked off on Saturday and will conclude on Tuesday.

The forum's Chairman Sami Bahrawi said in statement on Saturday there were 35 key speakers from 22 countries taking part, including Turkish Prime Minister Recep Tayyip Erdogan and former Pakistani Prime Minister Benazir Bhutto.