Saudi economy can be strengthened by boosting competitiveness

12/12/2015 (Saudi Gazette – KSA): THE Kingdom’s organizations need to strengthen their talent investment in order to enhance their business competitiveness and support economic growth, SAP announced with the launch of a new report.In the Kingdom, 60 percent of business leaders plan to increase investment, the highest level in the region, which builds on the success of the Kingdom being the best sales market in the Middle East in 2014, with more than 70 percent of respondents seeing double-digit revenue growth, according to the “MENAT Business Outlook Survey 2015” by The Economist Corporate Network.However, the lack of talent and the cost of developing talent is the top reason that Saudi organizations gave for their investment plans to stall – cited by one in five, or 20 percent, of executives.It is understood among Kingdom-watchers that while the Kingdom hosts one of the MENAT region’s highest business potentials, the talent challenge is holding back international investment and causing high staff turnover. Public and private sectors partnering on business-friendly solutions could help multinational corporations to avoid reducing headcounts or even relocating to more business-friendly countries…




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