Saudi Arabia’s Basic Industries Corporation (SABIC) has received a certificate from the General Authority for Competition (GAC) attesting to its compliance program.
Granting such certification is a GAC initiative that aims to ensure that establishments comply with set standards and controls, rules and regulations, and thus avoid violations of the Competition Law.
SABIC CEO Eng. Abdulrahman Al-Fageeh said that being awarded this certificate is testimony to SABIC’s commitment to the highest standards of compliance and its keenness to integrate governance requirements into various procedures, adding that transparency is one of SABIC’s priorities in the endeavor to achieve effective transformation, sustainable growth and a strong relationship with its customers, shareholders and partners.
Al-Fageeh commended GAC’s effort to keep pace with the development of the business sector in the Kingdom, nurture fair competition, instil a culture of responsibility and improve the investment climate to meet the goals of the Saudi Vision 2030.
SABIC won the Saudi Capital Market’s Best Environmental, Social and Governance (ESG) Award for the second consecutive year, and the Best Investor Relations (IR) Program Award.
Source: Saudi Press Agency