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The award confirms Zamil's ongoing investment into its ethical business practices across its regional and international operations and highlights the moves being made by companies such as Zamil Industrial to champion the need for Saudi companies to invest in responsible and competitive business practices.
Receiving the award at the Global Competitiveness Forum, Dr. Abdulraham A. Al Zamil, Chairman of the Board, Zamil Industrial, said:
"It's a great honor to receive this award on behalf of Zamil Industrial. We see this as recognition of the work that we have had in place across our businesses for many years. Business is not only about creating value for shareholders - it is also about the lives of the people that we employ, the communities that interact with every day. Increasingly businesses around the world are beginning to realize that they need to operate in a responsible manner, investing in the long-term and helping to create enterprises that will generate value for shareholders, employees and communities."
"Initiatives such as the Saudi Responsible Competitiveness Index are crucial tools in helping to create an environment of responsible business practices across Saudi Arabia. As more businesses participate in SARCI, best practice will increasingly be shared across business sectors in the Kingdom, helping to create a sustainable and competitive business environment. Businesses in Saudi Arabia really have the opportunity to show how they are helping to create a responsible and competitive business environment at prestigious events such as the Global Competitiveness Forum. We thank the organizers and the judges as well as all of our employees, who have made this award possible," he added.
The Saudi Responsible Competitiveness Index (SARCI) is an initiative of the Saudi Arabian General Investment Authority and is part of its strategy to make Saudi Arabia one of the top 10 most competitive economies by 2010. It seeks to help responsible businesses to improve their performance and build economic competitiveness, social progress and sustainability, helping to build competitiveness within industry sectors, cities and at the national level. Through the SARCI, a critical mass of business-level activities cumulatively help to build a responsible and competitive climate. The Index is intended to form a core part of the process of building medium-term growth potential through social and environmental performance within the Kingdom.
Participating leading businesses in Saudi Arabia are assessed annually by SARCI consultants. The assessment looks into the strength of a company's strategy, management, engagement processes and performance systems. Participating businesses have a confidential briefing on its performance against sectorial, national and global benchmarks. The process of engaging in the index offers learning opportunities for senior managers.
Posted by Siba Sami Ammari
