Arab businesses should take CSR more seriously says Alshaya at the World Economic Forum

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Speaking at the session on 'Does Arab Business Care?', Mr. Alshaya, Executive Chairman of M.H. Alshaya Co., pointed out that in the Middle East, CSR is often confused with charity.

However globally, especially in the West, it has evolved beyond compassion and extends to long term involvement of businesses with community and governments to ensure sustainable development.

'In the Middle East, corporate social responsibility is still in its infancy, it is very much associated with 'giving' through charitable donations. There is much more we can do in partnership with governments and NGOs to tackle deeper issues like unemployment, lack of quality education and carbon footprint reduction ,' said Mr. Alshaya.

'Regional corporations should place more emphasis on their social responsibilities as consumers and governments are becoming increasingly conscious of ethical and environmental issues. Businesses not committing to CSR will not only risk their reputations but also give up the opportunity to contribute to the growth of this region, or sucessfully expand outside it, ' he said.

As a region that has only recently started to develop the full scope of corporate social responsibility there are valuable lessons we can learn from Western corporations that have implemented successful CSR initiatives, he highlighted.

The success of any such initiative would demand across the board commitment, involves a broad range of issues and working with community, government and the environment. An example is the Mentor Arabia programme, which has been supported by major companies in the Middle East.

A non-governmental organization, Mentor Arabia provides opportunities for the healthy development of children and youth free from the harm caused by drug-misuse.

'As Middle Eastern companies expand globally, they will have to address CSR more seriously, 'Mr. Alshaya added, 'it will allow them to compete on a level playing field with competitors.'

The session on 'Does Arab Business Care?' also saw participation by Ahmed Mahmoud Nazif, Prime Minister of Egypt; E. Neville Isdell, Chairman, The Coca-Cola Company; Fadi Ghandour, Founder and CEO, Aramex and Jozette Sheeran Executive Director, World Food Programme, UN. Apart from the need for regional companies to engage as corporate global citizens, the session also discussed the potential implications of global issues such as climate change, water shortages and corruption on companies in the MENA region.