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Egyptian Minister of Cooperation: Govt Proposals are Open to All, Including China

Egyptian Minister of International Cooperation Rania al-Mashat speaks at a panel discussion at the 10th Arab-China Business Conference in Riyadh. (Asharq Al-Awsat)
Egyptian Minister of International Cooperation Rania al-Mashat speaks at a panel discussion at the 10th Arab-China Business Conference in Riyadh. (Asharq Al-Awsat)
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Egyptian Minister of Cooperation: Govt Proposals are Open to All, Including China

Egyptian Minister of International Cooperation Rania al-Mashat speaks at a panel discussion at the 10th Arab-China Business Conference in Riyadh. (Asharq Al-Awsat)
Egyptian Minister of International Cooperation Rania al-Mashat speaks at a panel discussion at the 10th Arab-China Business Conference in Riyadh. (Asharq Al-Awsat)

Egyptian Minister of International Cooperation Rania al-Mashat said on Sunday government proposals are open to all countries, including China.  

Speaking at the “Investment and Financing Along the Belt and Road Initiative (BRI)” panel discussion at the two-day 10th Arab-China Business Conference in Riyadh, Mashat lauded the strong ties between Egypt and China, noting that the Suez Canal Corridor attracts Chinese companies in various fields.  

The Minister stressed that green transformation is one of the essential sectors, saying that it provides opportunities for cooperation between companies in the Arab world and international companies.  

Participants discussed the role of the Belt and Road initiative in promoting economic growth and development in China and the Arab countries and reviewed successful examples of existing partnerships.  

She explained that the Belt and Road Initiative began in 2013 and is a long-term strategy to enhance cooperation and integration between Asia, Europe, the Middle East, and Africa.  

According to the Minister, every country has a strategic vision and seeks to achieve sustainable development goals.  

She explained that the Suez Canal attracted Chinese companies, including TEDA, an industrial developer in the economic zone of Ain Sokhna.  

The Minister pointed out that China was keen to provide funds to the countries of the Belt and Road Initiative to establish development infrastructure projects, stressing the importance of the role of the Asian Infrastructure Investment Bank (AIIB) in increasing Chinese investments in Egypt.  

She explained that development funds are long-term that serve development in general, whether roads, ports, or railways, citing the role of Arab funds in financing the electrical interconnection project between Egypt and Saudi Arabia.  

The 10th Arab-China Business Conference, the largest ever cooperation between the two parties, aims to explore inter-investment opportunities in various sectors. 

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Global Corporate Social Responsibility Kicks off in Riyadh

The inaugural Global Corporate Social Responsibility (CSR) Forum kicked off in Riyadh on Monday. (SPA)
The inaugural Global Corporate Social Responsibility (CSR) Forum kicked off in Riyadh on Monday. (SPA)
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Global Corporate Social Responsibility Kicks off in Riyadh

The inaugural Global Corporate Social Responsibility (CSR) Forum kicked off in Riyadh on Monday. (SPA)
The inaugural Global Corporate Social Responsibility (CSR) Forum kicked off in Riyadh on Monday. (SPA)

The inaugural Global Corporate Social Responsibility (CSR) Forum kicked off in Riyadh on Monday under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud.

Organized by the Saudi Ministry of Human Resources and Social Development under the theme "From Commitment to Impact", the forum aims to promote social responsibility initiatives.

In opening remarks, Minister of Human Resources and Social Development Eng. Ahmad bin Sulaiman Al-Rajhi said: "Saudi Arabia's goal for this forum is to serve as a global platform for dialogue on social responsibility, enabling us to meet, exchange expertise, and discuss challenges, solutions, and opportunities to expand private sector involvement in sustainable development. Together, we aim to set a global model for creating new partnerships between the public and private sectors."

Saudi Arabia's achievements in the field of social responsibility represent an "inspiring transformation and empowerment story", with social responsibility recognized as a strategic objective in the Saudi Vision 2030, that of "promoting corporate social responsibility", he added.

This has led to the developing tools and enablers that would drive strategic transformation in corporate social responsibility, including the establishment of a Social Responsibility Committee by a Cabinet decision, formulating a social responsibility strategy, launching a national social responsibility platform to lead transparency in social responsibility.

It also led to declaring March 23 as an annual Social Responsibility Day, highlighting private sector initiatives, issuing a corporate social responsibility guide, developing a social responsibility index in the Saudi market, and establishing a unified national identity for social responsibility.

Al-Rajhi cited a significant increase in corporate social responsibility engagement across Saudi Arabia. These contributions to social spending jumped from 1.19% in 2019 to 4.15% by the end of 2023, while the percentage of large companies with CSR programs jumped from 30% to 65% during the same period.

This progress is reflected in Saudi Arabia's improved global ranking, climbing to 16th place in the IMD World Competitiveness Yearbook 2024's Social Responsibility Index, up from 41st in 2021. Al-Rajhi was confident that Saudi Arabia will be among the top CSR countries in the world by 2030.

At the forum, the Ministry of Human Resources and Social Development aims to engage decision makers from the private sector, government representatives, development organizations, and experts in social responsibility and sustainability in discussions on challenges and opportunities for growth.

The forum seeks to foster innovation, shape the future of social responsibility on a global scale, encourage excellence and competitiveness, facilitate partnerships among public, private, and non-profit sectors, and expand opportunities for international collaboration in this field.