(MENAFN- Al-Anbaa) The "Gulf Family Business Forum (GFBF) - The Backbone of a Sustainable Economy", is to be held, under the patronage of His Highness Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, the Amir - May God save him -, at 7 p.m., in the evening, at Al-Barka Hall, Crowne Plaza Hotel. It will continue until Wednesday, 17th December, 2014, discussing the role of family businesses in the economies of their respective countries, and how to help these companies overcome the challenges they face and raise their competitiveness, and how to develop their administrative and technical capabilities to excel to modern practices, and enable them to expand into regional and global markets, especially since family businesses still form the backbone for the economy of the GCC State and other countries in the region and in the world. The Forum will bring together economic and business leaders of the GCC States, along with the largest GCC family companies, represented by the owners and leaders of the first row, economists, and commercial and business experts; and lawyers and legal advisers specializing in corporate laws; and shareholders and investors; and investment advisers; and bankers and managers of financial institutions; in addition to many specialized consulting firms.
The participants are to focus on the best methods by which to overcome the difficulties faced by the family businesses in the GCC States, and ways to ensure their sustainable development and how they can meet the challenges of globalization, through the provision of studies, surveys, research and consulting solutions related.
The "Gulf Family Business Forum" will discuss key topics related to the growth of the economy of family business, stagnant business models, the issue of adapting to changes, and the promotion of social responsibility for which purpose, the event hosts many speakers and specialized international companies to discuss the categories of event that are distributed as follows:
a- Recurrent challenges to family businesses such as succession planning, jobs inflation with no significance to growth, gender equality & their engagement in decision-making, and engaging non-family shareholding members.
b. Surviving the economic crisis represented by the economic value of family businesses, business Politics in crisis management, adaptation to Change, and managing risks and preventing downfalls caused by personal problems.
c. Laws and regulations on shares covering the topics of family business management, governance, processes, and regulations, government regulations imposed on family businesses, impact of International Laws and Regulations.
d. The socio-economic values of family businesses such as governments' crucial role in supporting family businesses, the role of Corporate Social Responsibility in national projects, businesses' contribution to the national economy, and development of a sustainable socio-economic system.
e. Employment and career development that will discuss the issues of human resources management and training, career development and motivation, employee rights and job security, and hiring family members or in-laws.
The "Gulf Family Business Forum" shall be accompanied by an specialized exhibition for international, regional, and local consulting companies, so as to grant these consulting companies and their managers the chance to showcase to the family business owners the successful institutional strategies applied by their companies and their achievements in the related field of consulting. The exhibition will provide an excellent venue for owners of companies to browse the latest in leading consulting services, and to choose among them according to the type of work and expertise required.
The "Gulf Family Business Forum", which is mainly organized by Khaled Youssef Marzouk & Sons Group of Companies, and with the participation of NoufEXPO, in collaboration with ExiCon international Group, and many other Kuwaiti, regional and international bodies and organizations, especially the Federation of GCC Chamber.
The Chairman of the Higher Organizing Committee of the Forum Mr. Yusuf Khalid Al-Marzouq stated that the patronage of His Highness, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, the Amir of Kuwait - may God protect him - is the culmination of his Highness's interest and his Highness's precious parental care for at the welfare of the citizens of the Gulf and the Arab region, which is also compatible with the resolutions and recommendations of the Gulf and Arab summits, that aim at developing and promoting a sustainable economy, and finally: such patronage comes out of His Highness's parental keenness for members of a family, as the head of this family.
The Chairman of the Committee said that the forum will discuss the challenges facing the family business, being an important pillar of the GCC economies, with family businesses accounting to a percent between 70 to 90% of the Private Sector's activity in the Middle East and North Africa region, absorbing almost two-thirds of the workforce in these countries, which and imposes on these companies the necessity to shift toward modern management methods, to provide further chances of sustainable development, and enable them to continue even without the support that was provided by its founding fathers and subsequent generations, and move towards further success in light of the new challenges of globalization and free trade, open borders and the opportunities offered by or imposed by styles, trends and developments in modern technology.
Al-Marzouq thanked all the ministries and government agencies and sectors of the state, for their cooperation in the success of this distinguished Gulf Forum, which reflects the nature of relations between the Gulf people and which enables them to leap forward at such delicate stage to the fore.
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