The Kingdom of Saudi Arabia will participate in the first forum on the Gulf family companies, due to be held in the United Arab Emirates (UAE) on June 6-8, 2006. The forum will be attended by the UAE's minister of economy Lubna al-Kassemi and a number of Gulf businessmen. The forum, due to be organized by the Saudi law center in cooperation with the federation of the GCC chambers of commerce and industry and the federation of the chambers of commerce and industry in the UAE, will review issues pertaining to more than 20,000 Gulf families companies. The Gulf family companies own capitals estimated at SR 2000 billion and employ about 75 percent of the total national and foreign workforces in the Gulf region. Majed Karoub, the head of the consultative committee of the forum, said a number of Saudi economists will deliver at the forum papers on the danger of globalization on the Gulf family companies, the family honor convention, the banks and their impact on the Gulf family companies and other related topics. A number of Saudi female economists will also participate in the forum.
