King Abdullah Economic City (KAEC), a special economic zone on Saudi Arabia's Red Sea coast, and Petro Rabigh, a joint venture between Saudi Aramco and Japan's Sumitomo Chemical, have launched the Saudi Sustainable Development Association, said a report.

The association is an innovative, pioneering initiative to combine the resources of national corporations and channel them efficiently toward better economic and social development in the kingdom in general, and in the Rabigh area in particular, added the Saudi Gazette report.

Announced in a special ceremony at KAEC, this initiative is the first of its kind in the kingdom, creating a partnership among corporations and institutions in the private sector in the field of social responsibility and sustainable development.

The announcement ceremony was attended by Ayman Al Mubaireek, deputy governor of Rabigh, and more than 30 representatives of government agencies and senior corporate officials.

In addition to KAEC and Petro Rabigh, the consortium includes the Cooperative Insurance Company (Tawuniya,) the International Medical Center, DHL, SANKYU, Saudi Arabia, FAL Holding, RAWEC, Al-Tamimi and Co., GEMS – Global Environmental Management Services – and Arabian Pipes.

Bassam A Al Bokhari, vice president of industrial relations at Petro Rabigh and chairman of the Association Board, said the partnership will unite the efforts that national corporations make towards enhancing corporate social responsibility and promoting sustained development that meets the area’s basic needs.

He also said that this will constitute added value in the long run, and contribute to the kingdom’s Vision 2030 by giving the private sector the opportunity to participate in development, added the report.