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Control Environment
A set of standards, processes, and activities that provide the basis for carrying out internal control procedures in the entity.
Conglomerate Merger
A merger between companies in unrelated industries to diversify business operations.
Kyoto Convention (Customs)
The expression commonly used to denote the International Convention on the Simplification and Harmonization of Customs Procedures, adopted by the Customs Cooperation Council in Kyoto in 1973.
Emerging Digital Economy
The shift to an economy driven by digital technologies, including e-commerce, fintech, blockchain, and AI-driven business models.
Economic Outlook
A forecast of future economic conditions based on trends, indicators, and policy analysis.
Final Cash Consumption Expenditure of Households
Household spending for direct satisfaction of needs or wants through monetary transactions. It is generally associated with the domestic concept that includes expenditures made by households, regardless of nationality or residence, within the economic territory of the country.
Control Commitment
To make sure that the government entity adheres to all control regulations.
Consortium
A group of companies bidding together for a project. In a PPP this enables companies to bring together all capabilities required for the project (construction, operation, and financing).
Internal Control Framework
A data structure that organizes and categorizes an organization's internal controls, they are practices and procedures that are put in place to create added value and reduce enterprise risks.
Economic Revitalization
A process aimed at improving or reinvigorating a stagnating or declining economy, often through investments, job creation, and infrastructure development.
Non-Oil Economy
Economic sectors and activities that do not involve the production, extraction, or sale of petroleum or oil-related products.
Economic Reform
Changes or improvements made to the economic policies or systems to enhance efficiency, growth, and stability.
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