10/04/2019
Under the title, "Latest trends and best practices," Asharqia Chamber and in collaboration with the Institute of Directors in the GCC will launch (Forum on Corporate Governance in Family Businesses ) on Wednesday, April 10, under the patronage of HE Dr. Majid Al Qasabi, Minister of Commerce and Investment, with the presence of a number of local and international specialized experts in corporate governance.
The Forum will discuss a number of important topics of governance in family businesses, such as the legal and family aspects, the family charter and the succession plan, as well the content of the Ministry of Commerce's guide for family businesses, the results of the PwC survey on family businesses in the Middle East and the world, in addition to opening the discussion on the main factors of continuity of family businesses and the definition of services that can be provided by the National Center for Family Establishments, which was inaugurated by the Minister of Commerce and Investment at the headquarter of the Chamber of Commerce and Industry in Jeddah in November 2018, which aims to highlight and develop the role of family enterprises in economic and social development and enhance their competitiveness and increase their contribution to GDP to achieve the Vision of the Kingdom 2030.
For his part, the Chairman of Asharqia Chamber, Abdul Hakim bin Hamad Al-Ammar Al-Khalidi, said that the Forum comes as an update to what was put forward in the past, whether the transformation of family businesses or the governance.
He noted that it is a message confirmed by the Chamber of the importance of the application of rules and procedures of governance.
He pointed out that governance is the cornerstone in achieving sustainability and continuity of family businesses by moving between generations smoothly.
Al-Khalidi pointed out that Asharqia Chamber is taking the culture of governance among family businesses as a target and that this Forum ( and other programs offered by the Chamber such as initiatives and awareness leaflets) comes to achieve its goal that the family business owners to adopt the procedures of governance due to its great benefits of the family company as well as the national economy as the family companies represent a great place in the national economy both in terms of its contribution to non-oil GDP and in terms of absorption of thousands of national labor forces.
Al-Khalidi explained that the Forum seeks to present a comprehensive vision on corporate governance in family businesses by focusing on a number of topics that are seen as important topics that family businesses need to know.
