GCC BDI, Nesma & Partners enter partnership to boost corporate governance among MENA businesses

Khobar-Saudi Arabia: October 24, 2023 – The GCC Board Directors Institute (GCC BDI), a not-for-profit organization for board directors, has signed a three-year partnership agreement with Nesma & Partners Contracting Company Ltd. (N&P), the leading contracting company in the Middle East. The move will help entities bolster corporate governance and support GCC BDI’s ongoing commitment to developing board effectiveness across the Gulf.

Under the partnership, GCC BDI and Nesma & Partners will cooperate closely, sharing knowledge and experiences, as well as exploring collaborative opportunities to enhance standards of corporate governance in Saudi Arabia and beyond.

Reflecting on the announcement, Jane Valls, Executive Director of GCC BDI, said: “We are thrilled to have Nesma & Partners join our network of valued partners and sponsors as a Corporate Affiliate. Our mission at GCC BDI is to foster positive influence across the region’s economies and societies by elevating board capabilities. Partnering with Nesma & Partners will help us champion the latest governance trends and best practices in corporate leadership. We are excited about the prospect of a fruitful, strong, and impactful partnership.”

Abdulaziz Alturki, Chairman of Nesma & Partners, said: “As a key player in Saudi Arabia’s construction sector, we have a keen sense of responsibility for leading and managing our people as well as the communities we serve. We consider corporate governance not just as a business priority but as a fundamental aspect of our leadership philosophy. We firmly believe that transparent corporate governance is the cornerstone of a good reputation and long-term value.”

Headquartered in Khobar, Nesma & Partners has built a robust corporate governance and CSR framework. In February, Nesma & Partners signed an agreement with Tarmeem Charity Association to renovate 60 homes for underprivileged families in the Eastern Province of Saudi Arabia in 2023. Since the inception of their strategic partnership with Tarmeem, Nesma & Partners has renovated 80 homes over the past four years. Nesma & Partners also extended their agreement with Tarmeem to include volunteering sponsorship and digital sponsorship to maximize the societal impact of this partnership. Nesma & Partners and Tarmeem launched the Saudi Contracting Pioneers initiative to develop small contracting companies.

Its ESG commitments include capacity building, advocacy, and knowledge transfer. The group advocates for sound governance practices within Saudi Arabia in alignment with Vision 2030.

GCC BDI and Nesma & Partners have worked alongside each other since 2015. Nesma & Partners recently supported GCC BDI in two board secretary forums.

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About GCC Board of Directors Institute
GCC Board Directors Institute (GCC BDI) is a not-for-profit organization that guides board directors of organizations, from family-owned businesses to listed companies, to acquire the know-how and the tools to reach and sustain effective governance. Launched in 2007, we are supported by eight leading regional corporations and professional services firms that serve as our strategic partners.

Our mission is to enhance board member capabilities, create a strong and influential regional network of board members, and disseminate high-quality corporate governance knowledge, leading the regional debate on emerging best governance practices. We aim to accomplish these goals through a combination of effective practice and experience sharing, access to global knowledge, and interaction with regional and international counterparts.

GCC BDI has grown to become the leading organization in the region for board directors. We have delivered over 600 programs and forums to top-tier companies in the Gulf and now comprise over 3400 members, each with extensive knowledge and experience in operating at the most senior levels of business in the GCC.

For more information, please visit https://gccbdi.org/
 

For media enquiries, please contact:
Mehwish Sarwar
GCC Board of Directors Institute
mehwish.sarwar@gccbdi.org

About Nesma & Partners

Nesma & Partners is the leading contracting company in Saudi Arabia that delivers innovative solutions to some of the biggest energy & infrastructure challenges in the Middle East.

Founded in 1981 to meet the needs of a booming economy in the rapidly developing Kingdom of Saudi Arabia, today, Nesma & Partners is a partnership of four shareholders: Nesma Contracting Limited, Alturki Holding, Rawabi Holding, and the Public Investment Fund (PIF). Over the last 40 years, Nesma & Partners has grown into a leading innovator serving the entire region with a track record of success in delivering the region’s most ambitious industrial, infrastructure, and building construction projects.

For more information, please visit https://www.nesmapartners.com/
 

For media enquiries, please contact:
communications@nesmapartners.com