03/03/2014
Under the auspices of the Minister of Trade and Industry
Eastern Chamber Governance Forum looking for constraints faced by family businesses
The East Chamber in partnership with the Institute of Directors in the GCC organizing on Thursday May 1, 2014 ' second Forum on governance of family businesses 2014 ' under the auspices of the Minister of Commerce and industry Dr. Tawfig Alrabiah, at the headquarters of the Chamber in Dammam. The Secretary-General of the Chamber Abdul Rahman bin Abdullah Al wabil said that the Forum with the participation of local experts and Gulf looking challenges and risks of succession and continuation of the family businesses from one generation to the next, most important difficulties in balancing data management and ownership and family relations. The barrage to the Forum highlights the obstacles facing family businesses to apply the principles of corporate governance, reviews some of the experiences of the family companies in this area.
The family firms representing 85 percent of companies globally, and embraces all of the Kingdom of Italy and the United States and the largest family businesses in the world by more than 90, most family businesses don't succeed in staying beyond the third generation. The family businesses in Saudi Arabia, is a key pillar of the national economy, exceeding its $ 66 billion, a significant contribution in the Saudi community needs of goods and services and jobs to citizens.
