Family Business Council — Gulf (FBCG), the regional association of Family Business Network International (FBNi), recently concluded its Annual Summit 2017 under the theme “Secrets to Family Business Continuity: Committed to Evolve Over Generations” held in Dubai.
The fourth edition of the summit brought together leading GCC family businesses experts and academicians to share experiences and effective approaches to address family business challenges.
Abdulaziz Al-Ghurair, chairman of FBCG, said: “We believe that each family business has its own secrets to success, but we also believe that families can inspire each another on ways to regenerate their own formula to success.”
He added: “By tailoring the summit agenda around real-world case studies and success stories, we aimed to provide families with practical insights that they can learn from and incorporate in order to better address the challenges of growth, business model evolution and generational transition.”
Prominent regional and international speakers took the stage at the summit presenting case studies and taking part in panel discussions. Two GCC family groups, Al-Mulla Group from Kuwait and SEDCO Holding Group from Saudi Arabia, shared their learnings and discussed how to professionalize and introduce corporate discipline in the family business. They focused on how to build effective boards to fit long-term generational time horizons.
The summit also witnessed the launch of a GCC case study on family business social impact. Community Jameel shared their approach in developing community projects tied to their business and centered on job creation. Hassan Jameel, deputy president and vice chairman of Abdul Latif Jameel, took part in a relevant panel session along sustainability experts to discuss effective ways of giving in the context of the family business.
International family speakers also took part in the summit. These include Hans-Jacob Bonnier of Bonnier Group, a sixth-generation family firm which is ranked among Scandinavia’s leading media conglomerates; and Meral Zaim Inci, from the leading Turkish Inci conglomerate. Both families belong to FBN exclusive community; and took part in the GCC summit to present their family governance development journey.
Every year, the FBCG summit attracts leading GCC family businesses in a private closed-door gathering. FBCG’s events are exclusive to family-business members and the format of the sessions is designed to encourage open and effective discussions among the participating members.
GCC family businesses discuss long-term continuity and growth at FBCG Annual Summit
GCC family businesses discuss long-term continuity and growth at FBCG Annual Summit
Thai Minister tours LuLu Hypermarket in Riyadh
Thai Minister of Commerce Suphajee Suthumpun visited LuLu Hypermarket in Riyadh’s Al-Murabba neighborhood, as part of her official engagement in Saudi Arabia. She was welcomed by Mohammed Haris, director of LuLu Hypermarket Saudi Arabia, who hosted the minister and her 25-member delegation, including the vice minister and senior officials from the Ministry of Commerce. Said Abdul Anees, director of May Exports, LuLu’s sourcing office in Thailand, was also present with the LuLu team during the visit.
During the visit, the minister and her delegation explored LuLu’s specially curated showcase of Thai products, many of which are sourced directly through May Exports. The display featured a wide selection of food items, consumer goods, and specialty imports that reflect Thailand’s strong presence across LuLu stores in Saudi Arabia. The minister praised LuLu’s continued efforts in strengthening Thailand’s export reach and promoting high-quality Thai products to customers in the region.
The Thai delegation also held a meeting with LuLu’s senior management, where both sides discussed areas of mutual interest, supply-chain cooperation, and opportunities to further enhance trade ties between Thailand and Saudi Arabia through LuLu’s extensive retail network.
