Doha, January 14 (QNA) - Participants in the fourth edition of the Private Sector Social Responsibility and Its Role in Sustainable Development Conference, which commenced today, underscored the importance of good governance in ensuring the sustainability of family-owned businesses.

The conference was attended by HE Minister of State, Chairman of Qatar National Library and International Ambassador for Social Responsibility Dr. Hamad bin Abdulaziz Al Kawari; HE Chairman of Qatar Chamber Sheikh Khalifa bin Jassim bin Mohammed Al-Thani; HE Advisor to the Secretary-General of the United Nations Dr. Abdullah Al Maatouq; as well as a distinguished gathering of officials, experts, and representatives of regional and international organisations.

The two-day conference is hosted by the Qatar Chamber in collaboration with the Union of Arab Chambers, the League of Arab States, the Regional Network Consultancy, and the United Nations Industrial Development Organisation (UNIDO).

In this context, HE Dr. Hamad bin Abdulaziz Al Kawari emphasised that integrating sustainability and social responsibility into Arab family businesses is essential for achieving comprehensive social development and building more cohesive and sustainable economies.

His Excellency commended the Qatar Chamber's strategic role in stimulating the national economy, and driving growth in Qatar, thanks to its efforts in linking business sectors, and promoting the Qatari private sector's presence on the international stage.

He noted that social responsibility has evolved from seasonal initiatives into a core component of corporate governance, underscoring that the long-term sustainability of family businesses relies on sound governance, transparency, alignment with sustainable development goals, investment in human capital, and support for innovation.

For his part, HE Chairman of Qatar Chamber Sheikh Khalifa bin Jassim bin Mohammed Al-Thani affirmed that private sector social responsibility has become a strategic pillar of good governance, enhancing competitiveness and building trust with society, stressing the pivotal role of the private sector as a key partner in achieving sustainable development.

He also noted that the selection of this year's conference theme, 'Mechanisms for Integrating Sustainability and Social Responsibility Principles in Arab Family Businesses,' underscores the pivotal role of family businesses in Arab economies and their vital contribution to achieving a balance between economic growth, social responsibility, and long-term sustainability.

Sheikh Khalifa highlighted the vital role of Arab family businesses in balancing economic growth with social responsibility and long-term sustainability, affirming the importance of adopting sound governance practices, strategic planning, transparency, innovation, and investing in young leadership to ensure business continuity across generations.

In turn, HE Minister Plenipotentiary and Director of the Development and Social Policies Department at the Technical Secretariat of the Council of Arab Ministers of Social Affairs, Tarek El Nabulsi expressed on behalf of the League of Arab States, his appreciation to Qatar Chamber for this initiative.

He stressed the vital role of the private sector in adopting social responsibility as a key partner in the development process, emphasising the League of Arab States' support for the conference's recommendations, which will be submitted to the Council of Arab Ministers of Social Affairs.

Meanwhile, HE Secretary-General of the Union of Arab Chambers Dr. Khaled Hanafy, thanked Qatar Chamber for hosting the conference, noting that it serves as a model of commitment to social responsibility through its keenness to embrace initiatives that support this vital area.

He pointed out that family businesses constitute a large proportion of the private sector, which represent nearly 75% of the Arab economy.

Head of the Investment and Technology Promotion Office in the Kingdom of Bahrain at the United Nations Industrial Development Organisation (UNIDO) Dr. Hashim Sulaiman Hussein said that family businesses are a key pillar in the economies of Arab countries, providing job opportunities and contributing to increasing the GDP.

For his part, Chairman of the Regional Network for Corporate Social Responsibility (CSR) Prof. Yousef Abdul Ghaffar said that the Arab private sector, especially family businesses, constitutes a fundamental pillar in supporting Arab economies, enhancing social stability, and achieving sustainable development.

He noted that integrating the principles of sustainability and social responsibility into the core corporate strategies of family businesses is no longer an option, but rather an economic, developmental, and ethical necessity that ensures the continuity of these companies and enhances their competitiveness regionally and globally.

The conference's first day featured three panel discussions. The first session, entitled "Governance of Social Responsibility in Arab Family Businesses," featured a distinguished group of speakers and experts.

The panel included HE Vice-Chairman of the Qatar International Centre for Conciliation and Arbitration and International Ambassador for Social Responsibility in the State of Qatar Sheikh Dr. Thani bin Ali bin Saud Al-Thani; Secretary-General of the Al-Anoud Charitable Foundation in the Kingdom of Saudi Arabia Dr. Yousef bin Othman Al Hazim; Environmental expert and engineering consultant at the Office of HE the Minister of Environment and Climate Change in the State of Qatar Dr. Mohammed bin Saif Al Kuwari; and President of the Arab Women Investors Union in the Arab Republic of Egypt Dr. Hoda Galal Yassa.

Speakers also included Faculty Member at the Lebanese American University (LAU) in Lebanon Dr. Mazen Abboud; CEO of Social Responsibility at Al Rajhi Partners in the Kingdom of Saudi Arabia Dr. Abdul Wahab Al Zahrani; CEO of Global Professional Services in Lebanon Counselor Warf Qamiha; and Regional Advisor for Social Development Affairs and Coordinator of the "Bridges" Initiative at the United Nations Economic and Social Commission for Western Asia (ESCWA) in Lebanon, Mona Fattah Wahdi.

During the session, HE Sheikh Dr. Thani bin Ali bin Saud Al-Thani presented a working paper entitled "Transparency, Disclosure, Trust Building and Their Applications in Family Businesses in the GCC Countries".

He emphasised that family businesses play a pivotal role in the economies of the Gulf countries, as they constitute most private sector companies and contribute significantly to economic and social development. However, he noted that the family-based nature of these businesses makes them more vulnerable to challenges such as conflicts of interest, weak separation between ownership and management, and the absence of clear institutional structures, all of which negatively affect their sustainability.

Sheikh Thani also stressed that transparency, disclosure, and trust-building form an integrated framework for the sustainability of family businesses in the GCC countries. He added that the higher the level of commitment to these principles, the greater the ability of family businesses to address institutional challenges, achieve sustainable growth, and contribute effectively to national economies. (QNA)