Top Sabic officials to join WEF meeting
Riyadh, October 19, 2011
A high-level delegation from Sabic will join other international corporate leaders in Jordan for a meeting at the World Economic Forum which will focus on the best practices in economic policy and reform, and elaborate ways in which stakeholders can drive positive outcomes.
The ‘Special Meeting on Economic Growth and Job Creation in the Arab World’ will be held at the Dead Sea from October 21 to 23, a statement from the company said.
The Saudi Basic Industries Corporation (Sabic) delegation will comprise Prince Saud bin Abdullah bin Thenayan Al-Saud, chairman of the Royal Commission for Jubail and Yanbu and chairman of Sabic; Mohamed Al-Mady, vice chairman and CEO; some members of the board; and an executive management team.
King Abdullah II bin Al-Hussein and Queen Rania of Jordan are scheduled to host a dinner for the participants on the second day, the statement said.
Expressing his views in a message to the forum, Al-Mady said: “To succeed in achieving economic prosperity and job creation in the Middle East, it is also necessary for business itself to become a strategic enabler of economic growth and job creation. In Sabic’s case, we are a major direct employer in the Middle East, employing nearly 20,000 people in this region, therefore opening economic opportunities for thousands and their families.”
Al-Mady said that Sabic plays an even more important multiplier role in every country where it does business. “It is estimated that one job in the chemical industry creates six additional jobs at suppliers, customers and downstream processing plants. Our 33,000 jobs at Sabic then turns into almost 200,000 jobs worldwide when you count in suppliers and downstream customers of SABIC.”
“In Saudi Arabia alone, Sabic is introducing advanced thermoplastics in the region for the first time. This will lead to the creation of new manufacturing industries and downstream sectors in the near future. As a result of this, thousands of skilled jobs will be created,” he said.
While stressing on the importance of investing in education, Al-Mady said, “Education is the cornerstone of economic prosperity and wherever we see high unemployment and economic gaps in the Middle East and the rest of the world, we can often trace it back to the unsuitable educational support and access. It is the duty of top businesses in the Middle East to take the lead here, alongside governments.” – TradeArabia News Service