Nov. 3--AMMAN -- The Ministry of Planning and International Cooperation will soon launch an inaugural report on responsible competitiveness in the Kingdom, which will highlight the competitiveness of business firms in three sectors of vital importance, a senior official said on Monday.

Minister of Planning and International Cooperation Suhair Al-Ali said the initiative is in implementation of Her Majesty Queen Rania's vision, under which she launched the Arab Responsible Competitiveness Report at the World Economic Forum and called for launching a similar report for the Kingdom.

Al-Ali made the announcement at the second Regional Corporate Governance and Responsibility (CGR) Forum, which opened yesterday, adding that the report will also coincide with the launch of the second National Report on Competitiveness to be issued by the ministry.

The 2009 CGR Forum brought together businessmen and leaders from across the Levant, the Gulf and North Africa to lead the advancement of corporate governance and social responsibility in the region, according to the organisers.

Experts from the private and public sectors are also participating in the event to create a road map for the future of corporate governance and responsibility in the region.

At the opening ceremony of the two-day event, Al-Ali highlighted that good governance is not exclusive to public administration, but is equally important in the private sector and civil society.

"This requires a proper political, legal and institutional environment, which ensures a better government role as a regulator, and strengthens the role of the private sector as a key player in economic activity, safeguarding human rights and the integrity of the judiciary, and contributing to expanding citizens' capabilities, opportunities, economic and social freedoms and political rights, in particular for vulnerable groups in society," she said.

The minister added that implementing good governance in the private sector is vital in improving efficiency and contributing to economic growth, noting that this can only be achieved in an environment that encourages competition and promotes principles of accountability and transparency.

Al-Ali noted that the assessment of private sector companies is based not only on their profitability, but also on their commitment to corporate social responsibility (CSR).

According to the minister, the World Business Council for Sustainable Development defines CSR as "continuous commitment by business to act ethically, contribute to economic development, and work towards improving the quality of living conditions of the workforce and their families, local community and society as a whole".

She noted that the government, in collaboration with the private sector, has amended many laws and regulations to cope with the latest developments, in addition to enforcing the principle of corporate governance and reducing bureaucratic red tape.

Raja Khoury, treasurer of AmCham (American Chamber of Commerce in Jordan), Abdulrahim Naqi, secretary general of the Federation of GCC Chambers of Commerce, and Kathleen Vaughan, EVP from Wells Fargo also attended the event, which aims to identify best practices for corporate governance and social responsibility within organisations, according to organisers.

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