Governance Forum discusses corporate governance developments internally and externally

Asharqia Chamber will host more than 12 experts on corporate governance and institutionalization on April 10, as a part of the Forum of Corporate Family Governance, which is organized by Asharqia Chamber in cooperation with the Institute of Directors in the GCC countries, under the patronage of the Minister of Commerce and Investment, Dr. Majid Al-Qasabi.

The Fourm is under the title, (Latest Trends and Best Practices), and it will be hold at the headquarter of the Chamber from 9 am to 3 pm.

The Chairman of the Board of Asharqia Chamber, Abdul Hakim bin Hamad Al-Ammar Khalidi, said that the Forum highlights through six consecutive sessions on the latest developments in the institutionalization of high companies at home and abroad through its review of the services of the National Center for Family Establishments and what it will provide for family business in the Kingdom, as well as the Ministry of Commerce’s guide to family businesses.

In addition, it will highlight the most important factors for the continuity of family businesses and other topics related to the sustainability of family business across generations.

Al-Khalidi explained that the Forum comes in light of the state of active economic movement that is witnessed by the Kingdom since the beginning of the Vision of 2030 that to diversify the economic base through increasing the non-oil sector’s contribution to GDP.

He pointed out that despite the fact that family businesses occupy a large area in the national economy, they are most vulnerable to disruptions, especially with the passing of the first generation, which requires further orientation in the application of institutionalization and governance.

He pointed out that the Forum also tries to shed light on the legal and family aspects and the family charter and plan succession generations as necessary treatments for the sustainability of business across generations.

Al-Khalidi stressed that the Forum, through hosting more than 12 local and foreign experts in the fields of corporate governance and family businesses, is trying to provide a comprehensive discussion and open a dialogue on everything related to family business and encourage its owners to follow the procedures of governance.

He called on the different business owners to attend and benefit from existing experiences.

Source: Republic of Cyprus, Ministry of Foreign Affairs