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The petrochemical sector is currently witnessing in-depth dialogues on the concept of social responsibility and how to develop and value it in proportion to the size of this strategic sector of the national economy at a time when the total contribution of the petrochemical sector Saudi in the service of the community will reach 4 billion rials. SABIC realized 195 million rand, or 1% of its profits, while the company represents the highest ceiling among listed companies in Saudi Arabia.
While the demands of experts and specialists have intensified the importance of creating a "social responsibility fund" that allocates 50% of its resources to emerging institutions, 50% to SMEs on concessional terms to support their growth, or the formation of profits for other companies demanding not to confuse the responsibilities of community enterprises with the responsibilities of government support supposed to be provided to these institutions.
"The contributions of our national enterprises to social responsibility in general are not at the required level, but our societies are new," said Abdullah Bin Saleh al-Hakbani, General Secretary of the Petrochemical Manufacturers Committee of the Chambers Council. Saudi. The term "defined in the West in the 80s of the last century, and hardly become a" social responsibility "resonates in the region and the Middle East since the beginning of the century, so it is expected to strengthen the contributions of our national enterprises Morale and Wa
He pointed out that the petrochemical sector was created in the 80s and since its inception, the industry has started to invest the wasted resources in the energy sector and improve the. efficiency of its use, which means socially responsible.Products produced in the margins of oil production and used to "feed" one of the best sectors of our national economy would be wasted worthless, while the industry Petrochemicals would help create jobs for young people and university graduates.For Many investors in the financial market have the opportunity to to make profits and develop funds, an aspect that some see as the core of corporate social responsibility.
The allocation of 1% of profits is not convincing
"It is not important, and social responsibility is being formed and composition, to consider the size of these community contributions as mere figures, The desire of these companies to support the communities and contribute to development, "stress that many believe that contributing to the development of local communities by 1% of annual profits in accordance with international standards, highlighting no disagreement and no difference on social responsibility in principle, but there is This responsibility "optional" comes on its own initiative, to what others view as the responsibility of the "duty" to be committed and to act by the organization or the institution.
He notes that local petrochemical companies have created many support activities in the areas of education, health, environment, water and sustainable agriculture, but also scientific solutions to limit CO 2 emissions. During its life cycle, all these activities are self-produced and ethical and have not been dictated by anyone. another example of the role of Petrochemicals in the wake of the SABIC initiative launched early 2018 to contribute to the creation of a national generation capable of playing everything (through the recruitment program) and continues for two years .
He emphasized the important social role played by other companies in the sector, including companies, "Chimanol", "Al-Farabi", "Manufacturing", "Sada", "Petro Rabigh" and "Sipchem", is to support The social responsibility of charitable societies may differ or differ among people, but these companies are sufficient enough to be willing to deduct a portion of their income for the benefit of the human being. The main objective of any development plan, and ultimately his vision of "social responsibility" as a requirement In our local communities not only in the Kingdom, but also in the Middle East in general.
Pressure forces activate claims
Al-Qabbani stated that until recently, no one had asked institutions or companies to provide services or support to local communities and to contribute to their development. Gemayel has allocated a portion of its profits and participated in the development of the companies that she embraced during the stages of the Industrial Childhood, until she grew up, grew up, grew up, and grew up. It intensifies and reaches the age of the majority.The concepts and theories developed until the commitment to social responsibility becomes an important indicator of development or delay. On the knees International.
In-Depth Dialogues
Currently, experts agree that "social responsibility" is a civilizational and moral value that reflects the culture of the company and its right to receive more support and support from the community. The petrochemical sector is currently engaged in in-depth dialogues on the concept of social responsibility and how to develop it and upgrade it in proportion to the size of this strategic sector of our national economy.
While some suggest the creation of a social responsibility fund that allocates 50% of its resources to startups and 50% to SMEs on concessional terms to support their growth, others feel that it's a good idea. it is not the responsibility of emerging companies. The idea of emerging markets financing is based on the badumption that companies listed on the capital market grow by acquiring liquidity through the sale of shares, which is not the unlisted companies, which explains their difficulty in obtaining significant liquidity for growth.
Community Participation in Marketing and Reputation
A theory of community participation that sees large companies interested in community involvement in marketing and reputation is the first to support small, emerging businesses. 80% for start-up companies are also distributed 40% for small businesses and 40% for SMEs Growth of start-ups, small and medium-sized enterprises will inevitably create jobs, services and goods for society at reasonable prices and of acceptable quality. And the services of its supply with a preferential benefit, and here the picture is fully illustrated and one of the ten tenets of quality is achieved win-win because everyone wins in this equation.
According to a third theory, the concepts of corporate responsibility and business development are confused: large companies and banks do not have the mission to develop small and medium-sized enterprises (SMEs), but the responsibility of the state to develop this formidable economic engine.
The dialogue continues to achieve the best form of social responsibility for the petrochemical sector, in accordance with the best international standards, and the support of petrochemical companies is not limited to the communities that surround them. , And to improve its regional and global competitiveness, as well as additional sources to enable it to diversify sources of income, and no one would think that it would be the greatest service to the community in the event that it has reached.
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