KSA- Competitiveness award launched  

(MENAFN - Arab News) new "King Khaled Respo-nsible Competitiveness Award" was announced here yesterday.

Saudi Arabian General Investment Authority (SAGIA) and King Khaled Foundation have jointly instituted the award that will be offered to the best three performing companies based on the benchmarks set by the Saudi Responsible Competitiveness Index (SARCI).

The companies are those that adopt most efficient programs meant to support sustainable social, economic and environmental development.

Prince Faisal ibn Khaled, governor of Asir and vice chairman of King Khaled Foundation, signed an agreement related to the award launch with SAGIA Gov. Amr A. Al-Dabbagh at the Jeddah Hilton.

SAGIA also signed a partnership agreement with the Kennedy School from Harvard University, announcing the leadership dialogue forums that will take place in November and January, bringing together CEOs and business and academic leaders from the Kingdom and elsewhere in the world to discuss best corporate social responsibility (CSR) practices.

Prince Faisal emphasized that supporting sustainable and innovative initiatives that help in social development was a key factor of the foundation's success. "As we support this award, we know that it will achieve the goals set by the wise leadership of Custodian of the Two Holy Mosques King Abdullah.

The launch of this award comes as a step in the right direction," Prince Faisal added. According to the prince, the King Khaled Foundation has supported the index because of its belief that "this index will support the achievement of the present and future national agenda."

He highlighted the importance of the private sector's active role in supporting development efforts, which is highly reflected in the index.