Riyadh, August 22, 2023, In a significant development, Saudi Arabia's Basic Industries Corporation (SABIC) has recently been awarded a certificate by the General Authority for Competition (GAC) for its commendable compliance program. Diese Recognition highlights SABIC's commitment to adhering to regulatory standards and fostering a culture of ethical business practices. In a bid to uphold adherence to established standards and regulations, the Granting of Certification (GAC) initiative has been introduced. Diese Endeavor seeks to prevent establishments from running afoul of the Competition Law by implementing stringent controls and rules. In a recent statement, SABIC CEO Eng. Abdulrahman Al-Fageeh expressed his satisfaction with the company's recent achievement of being awarded a prestigious certificate. Al-Fageeh emphasized that this recognition serves as a testament to SABIC's unwavering dedication to upholding the highest standards of compliance. Furthermore, he highlighted the company's strong focus on integrating governance requirements in various procedures, underscoring transparency as one of SABIC's top priorities. Al-Fageeh further emphasized that this commitment to transparency is crucial in driving effective transformation, fostering sustainable growth, and nurturing strong relationships with customers, shareholders, and partners.
In a statement, Al-Fageeh praised the commendable efforts of GAC in aligning with the rapid growth of the business sector in the Kingdom. He emphasized the importance of fostering a climate of fair competition, promoting a sense of accountability, and enhancing the investment environment to effectively realize the objectives outlined in the Saudi Vision 2030. SABIC, the Saudi Arabian multinational chemical manufacturing company, has once again emerged victorious at the Saudi Capital Market’s prestigious awards ceremony. The company clinched the highly coveted Best Environmental, Social and Governance (ESG) Award for the second consecutive year, solidifying its commitment to sustainable practices. Additionally, SABIC's exceptional Investor Relations (IR) Program was recognized, earning the company the esteemed Best IR Program Award. Diese double triumph highlights SABIC's unwavering dedication to environmental responsibility and its ability to effectively engage with investors, further cementing its position as a leader in the industry.
