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Fri 3 Oct 2014 10:08 AM

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Six Gulf firms named WEF global growth companies

Air Arabia, Saudi German Hospitals and Al Baraka Banking Group included in list of fast-growing companies

Six Gulf firms named WEF global growth companies
Air Arabia was one of six Gulf-based companies have been named Global Growth Companies (GGCs) by The World Economic Forum

Six Gulf-based companies have been named Global Growth Companies (GGCs) by The World Economic Forum among 28 selected in Europe, Eurasia and the Middle East.

The firms from Bahrain, Saudi Arabia and the UAE were announced at the World Economic Forum Special Meeting on Unlocking Resources for Regional Development in Istanbul.

These fast-growing companies, representing a broad cross section of industry sectors, were selected for exceeding industry standards in revenue growth, promoting innovative business practices and their leadership in corporate citizenship, WEF said in a statement.

The Gulf-based companies included Al Baraka Banking Group (Bahrain), Saudi German Hospitals, National Technology Group (both Saudi Arabia), Bayt.com Inc, Al Hilal Bank, and Air Arabia (all UAE).

“The World Economic Forum is proud to recognise these champions that are at the forefront of driving responsible economic growth, job creation and entrepreneurism in Europe, Eurasia and the Middle East. We look forward to their active and dynamic role in fostering inclusive, sustainable growth in the region,” said David Aikman, managing director and head of new champions at the World Economic Forum.

Together with Social Entrepreneurs, Technology Pioneers, Young Global Leaders, Global Shapers and Young Scientists, GGCs make up the New Champions, a larger World Economic Forum community of pioneers, disruptors and innovators.

The 370 GGC companies worldwide contribute to the Forum’s meetings, projects and knowledge products, which in turn support them on their path to achieving responsible and sustainable growth.