GCC BDI, Nesma & Partners Establish Partnership to Improve Corporate Governance Among MENA Businesses

GCC BDI, Nesma & Partners Establish Partnership to Improve Corporate Governance Among MENA Businesses

By Press Release, 30 October 2023

The GCC Board Directors Institute (GCC BDI), a not-for-profit organization for board directors, has signed a three-year partnership agreement with Nesma & Partners Contracting Company Ltd. (N&P), the leading contracting company in the Middle East.

The move will help entities bolster corporate governance and support GCC BDI’s ongoing commitment to developing board effectiveness across the Gulf.

Under the partnership, GCC BDI and Nesma & Partners will cooperate closely, sharing knowledge and experiences, as well as exploring collaborative opportunities to enhance standards of corporate governance in Saudi Arabia and beyond.

Reflecting on the announcement, Jane Valls, Executive Director of GCC BDI, said: “We are thrilled to have Nesma & Partners join our network of valued partners and sponsors as a Corporate Affiliate. Our mission at GCC BDI is to foster positive influence across the region’s economies and societies by elevating board capabilities. Partnering with Nesma & Partners will help us champion the latest governance trends and best practices in corporate leadership. We are excited about the prospect of a fruitful, strong, and impactful partnership.”

Abdulaziz Alturki, Chairman of Nesma & Partners, said: “As a key player in Saudi Arabia’s construction sector, we have a keen sense of responsibility for leading and managing our people as well as the communities we serve. We consider corporate governance not just as a business priority but as a fundamental aspect of our leadership philosophy. We firmly believe that transparent corporate governance is the cornerstone of a good reputation and long-term value.”

Headquartered in Khobar, Nesma & Partners has built a robust corporate governance and CSR framework.

In February, Nesma & Partners signed an agreement with Tarmeem Charity Association to renovate 60 homes for underprivileged families in the Eastern Province of Saudi Arabia in 2023.

Since the inception of their strategic partnership with Tarmeem, Nesma & Partners has renovated 80 homes over the past four years.

Nesma & Partners also extended their agreement with Tarmeem to include volunteering sponsorship and digital sponsorship to maximize the societal impact of this partnership.

Nesma & Partners and Tarmeem launched the Saudi Contracting Pioneers initiative to develop small contracting companies.

Its ESG commitments include capacity building, advocacy, and knowledge transfer. The group advocates for sound governance practices within Saudi Arabia in alignment with Vision 2030.

GCC BDI and Nesma & Partners have worked alongside each other since 2015. Nesma & Partners recently supported GCC BDI in two board secretary forums.


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