Jasser noted that investment environment in the Kingdom has improved and the Kingdom ranked 16th out of 181 countries in terms of competitive environment, business performance and investment, according to "Doing Business" Report in 2009 issued by International Finance Corporation (IFC), an affiliate of the World Bank. He indicated that oil prices declined and fluctuated in the last quarter of 2008 and the first half of 2009, saying, "Although the Kingdom has benefited from the period of improvement in oil prices in building up satisfactory oil reserves which are sufficient to cope with the fluctuation of oil prices, we must continue to diversify income sources and reduce dependence on oil as a source of income through continually giving the private sector a greater role in our national economy, which positively contributes to the development and creates job opportunities." --More
