Jan 21 2010 |
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Savola to set aside 1% of profit for social projects
JEDDAH: The Savola Group has decided to set aside one percent of its annual profits to support social responsibility projects, said Sami Baroum, the group's managing director."The finances that are to be allocated for social responsibility projects is one percent of the expected net profit of SR920 million," Baroum told a press conference.
He added that the step has been taken in line with the wishes of Custodian of the Two Holy Mosques King Abdullah who has asked national companies and businessmen to play an effective role in supporting social responsibility projects.
"There are about 600,000 disabled people in the Kingdom," he said, adding that the center is a first-of-its-kind center in the Middle East and Arab world.
The institute is being run in collaboration with the General Organization for Technical Education and Training and the support of the Human Resources Development Fund.
Baroum said the group is to also establish the Madinah Institute for Command and Leadership at the Knowledge Economic City in Madinah and an entrepreneurs project to support young businessmen and women.
"The group will continue to support civil establishments to enable them to achieve their objectives," he said.
By Galal Fakkar
© Arab News 2010
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