OREANDA-NEWS. The Saudi Basic Industries Corporation (SABIC) was the Diamond Sponsor of the Saudi International Forum for Small and Medium-Sized Enterprises (SMEs) held under the patronage of Dr. Ibrahim Al-Assaf, Minister of Finance, in Riyadh on May 28. SABIC was honored for sponsoring the event with a plaque, received by Khaled Al-Mana, SABIC Executive Vice President, Polymers Strategic Business Unit.

The Forum was organized by the Saudi Industrial Development Fund - Small and Medium-Sized Enterprises program – and the Saudi Credit & Saving Bank. The Forum brought together government officials, businessmen, decision makers from local, regional and international companies, along with SME representatives and global experts in the field.

SABIC’s sponsorship of the SME forum is part of its social responsibility strategy, and is in line with its strong commitment to support national development as a pioneering company in the Kingdom. SABIC also participated in an exhibition, held as part of the Forum, to highlight its experience in driving innovation in the region and in developing specialized and advanced plastic applications for key industries, such as automotive, tires and accessories, electronic devices and home appliances, fibers and packaging materials, pipes and fittings, and medical supplies.

Commenting on SABIC’s participation in the Forum, Mohamed Al-Mady, SABIC Vice Chairman and CEO, said, “SABIC is fully aware of the importance of SMEs as an essential element in the employment strategy, accounting for about 51 percent of local jobs. We are committed to contributing effectively to the development of this sector by providing adequate opportunities for their growth through innovation and material supplies.”

Al-Mady added that SABIC is working with its partners in the Saudi market to develop solutions of high value to enable its customers to further improve their end products. “These joint efforts with our partners have led to responsible manufacturing, resulting in reduced weight of products, energy conservation, reduced waste in production processes, optimized working capital, and improved mechanical and thermal properties of many finished products,” he said.

SABIC has always played a leading role in the support of national programs for the betterment of society and economic development. As part of its Corporate Social Responsibility programs, the company continues to take strong initiatives in support of the national economy and focus its people and resources on solutions that make a difference to society.