Riyadh - At a ceremony in Riyadh today, His Excellency Amr Al-Dabbagh, Governor of the Saudi Arabian General Investment Authority (SAGIA), recognized the continuing support of ExxonMobil Saudi Arabia Inc (EMSA) for SAGIA's program of Partnership between the Private and the Public sector. The PPP program provides for cooperation in the strengthening of SAGIA's expertise in ways that ultimately contribute to its pro-business aims and also enhances ExxonMobil's ability to contribute to the development of the Kingdom's institutional capacity.
The Chairman and CEO of ExxonMobil Saudi Arabia Inc, Mr. Desmond Carr, attended the ceremony along with EMSA's HR Manager, Mr. Saud Al Arifi, and Chemicals Vice President Mr. Robert Hutchinson.
"We're very appreciative to ExxonMobil for maintaining an active role in this knowledge-sharing effort," commented His Excellency, Governor Amr Al-Dabbagh of SAGIA. "This support furthers SAGIA's strategy to accelerate and enhance services provided to local and foreign investors to develop a pro-business environment. Furthermore, SAGIA will be honouring all companies that make an impact on the Saudi economy," he added.
The EMSA Chairman said "A survey by SAGIA shows ExxonMobil to be the largest foreign direct investor in the Kingdom through its participation in Joint Ventures with SABIC, Saudi Aramco and the private sector. These Joint Ventures which amount to $25 billion have an impressive track record of human resource development and we are proud of the very high 80% Saudization rates they have achieved as well as their industry-leading health and safety records." By way of example, Mr. Carr noted that this month the Jubail Petrochemical Joint Venture with SABIC will celebrate fifteen years without an employee lost-time accident. "This remarkable record reflected many years of effective cooperation between the venture partners," said Mr. Carr.
Mr. Carr noted that "Joining efforts with SAGIA through the PPP was well aligned with ExxonMobil's global social responsibility policy and enables us to further contribute to the Kingdom's economy and organizational development."
To this effect, SAGIA realizes that a talented, creative and competent workforce exists in the private sector and possesses exceptional management, development and team-building skills. Likewise, each public sector organization conveys certain key capacities needed by the private sector. These local talent pools, once exchanged, can play instrumental roles in positively developing the performance and capabilities of the participating organizations.
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About SAGIA
Saudi Arabian General Investment Authority (SAGIA) is a service entity aiming to provide services and facilities to promote investment and economic development in the Kingdom of Saudi Arabia (KSA). SAGIA was established in April 2000 under the directives of the Supreme Economic Council (SEC) as a catalyst to promote inward investments, facilitate exchange of best practice between the public and private sectors, as well as act as an intermediary between the global business community and the Saudi Government and its ministries and agencies. It also aims to contribute to economic policy-making substantiated by research and strategic criteria.
SAGIA's role is complementary and supportive to the bodies directly concerned with the various investment sectors and working to finalize the investors' procedures. The mission of SAGIA is to create a pro-business environment while providing comprehensive services to investors, and fostering investment opportunities in energy, transportation and knowledge-based industries. For more information on SAGIA please visit www.sagia.gov.sa
The SAGIA logo, name, and any other marks contained herein that reference the Saudi Arabian General Investment Authority are the property of the Saudi Arabian General Investment Authority. All rights reserved.
For more information, please contact:
SAGIA
Amjed Shacker
E-mail: ashacker@sagia.gov.sa
ExxonMobil
Saudi Arabia
Saud Al-Arifi
E-mail: Saud.s.alarifi@exxonmobil.com
© Press Release 2005
