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A functional business is required to further CSR activities, explained Harald Zulauf

For immediate release
Sharjah, 11 December 2018

Corporate Social Responsibility (CSR) isn’t a nice thing to do. It is good business decision. This was a crucial point that was relentlessly highlighted at the last panel discussion of the fourth edition of Sharjah FDI Forum 2018, organized by Invest in Sharjah. Titled, “Sustainability beyond CSR: The future of impact investment, community integration, and value creation. What is the role of the Sustainable Development Goals and the impact on Foreign Direct Investment,” the session was loaded with insights into ethical business practices.

The panel included: Harald Zulauf, CEO of mc Group communication agency and former advisor to Minister of Defense, Germany; H.E. Mohamed Ali Hilal Al Hazami, Board Member of Sharjah Chamber of Commerce and Industry (SCCI) and Deputy Chairman of the Emirates Association for Franchise Development; Dina Mustafa, Head of Sustainability Operations at Expo 2020 Dubai; WissamKadi, Global Director of SAP Next-Gen Labs & UN SDG Advocate; PriyaSarma, Corporate Communications Manager, Unilever MENA; and Malik Al Madani, Director of Strategy and Futures Department and Chief Innovation Officer, Federal Competitiveness and Statistics Authority, UAE.

“There is a growing realization in the world that companies are an integral part of community. In Unilever, we see growth in terms of social impact. In several parts of the world, basic needs aren’t even met like supply of drinking water and toilets. Sustainable Development Goals (SDGs) can be viewed as great business opportunities to drive impact and propel growth,” elucidated PriyaSarma.

But the most important factor is the bottom line. Most CSR activities can only be undertaken when companies are making good profits. Hence, a functional business is required to further CSR activities, explained Harald Zulauf. He further explored that CSR can be used as an advertising and marketing tool, as customers and employees wants to be associated with good values.

“Employees want to be proud of their company. If companies engage in wrong-doings, the negative impact wouldn’t just be in terms of press coverage but as well as loss of human resources,” added WissamKadi, “If you look into creating the core values of your company in terms of SDGs, you gain a competitive edge in the sector.”

Nations can use CSR tools to accentuate FDI growth as well. H.E. Mohamed Ali Hilal Al Hazami statedthat we need to support people with big ideas who can drive sustainable improvements. Employees and customers engage with products and services when there’s purpose attached to it.

Dina Mustafa shared, “At Expo 2020, SDGs are integrated into everything we do. Doing ‘good’ isn’t an option, it’s a necessity.” Malik Al Madani added that it’s not only the government that should be responsible, “We work with partners from private and public sector as well youth councils to address SDGs and drive change.”

The session concluded with Q&A’s from the audience and before the curtains dropped on Sharjah FDI Forum 2018, Andrew Rippon, Program Director of Babelchain, introduced the reinvention of real-estate to the audience.

Babelchain tokenized real estate which enables it to be marketed to new money, over a wider geographical reach, faster and with greater diversification, while lowering the barrier to entry. The project is built on Blockchain technology and goes through an extensive internal and external due diligence process.

As the day drew to an end, CNBC Arabia, the strategic partner of Sharjah FDI Forum, concluded the two-day event by thanking speakers and listeners.

The Sharjah FDI Forum, which was first launched in 2015 under the patronage of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, was organised by Sharjah FDI Office (Invest in Sharjah) with the support of the Ministry of Economy, and in strategic partnership with CNBC Arabia.

The fourth edition seeked to boost the emirate’s endeavours to attract more foreign investments, promote opportunities in main sectors, and strengthen the UAE’s position as a top investment destination in the region and the entire world.

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About Invest in Sharjah:
Established in 2016, the Sharjah FDI Office (Invest in Sharjah) is the investment promotion agency of the Emirate of Sharjah, launched by the Sharjah Investment and Development Authority (Shurooq). It also functions as a key facilitator to investors, servicing them with a 360-degree informative and physical support, allowing them to fully understand processes, investment advantages and insights on key sectors that fit their business profiles in Sharjah.

As one of the emirate’s key economic growth drivers, Invest in Sharjah is dedicated to the continued transformation and economic diversification of the emirate, and is committed to guiding foreign investors to the unique opportunities and potentials that Sharjah offers to global markets. Its mission is to work collectively with the emirate’s public and private sectors, to guide investors towards strategic and personalised opportunities, promoting collaborations for bilateral growth and update investors on Sharjah’s unique business culture, modern facilities, latest regulations and policies as well as business platforms and free zones that incentivise new prospects.

Invest in Sharjah also works in close partnerships with numerous state entities in the emirate, and has hosted numerous business roundtables and seminars in Sharjah and across the world, attracting unique investments and future ventures with business leaders from The Americas, Europe, Middle East, Gulf Region, Asia and the wider Asia-Pacific Region.

Invest in Sharjah has organised and participated in numerous leading business and investment conferences and seminar in Sharjah and the rest of the world. It is responsible for organising / hosting the Euromoney Conference Sharjah, the Sharjah FDI Forum, the Sharjah Ramadan Majlis and a number of high-level businesses conferences.

For more information, please visit www.investinsharjah.ae or you can contact +971 6 556 0444. For the latest news on Invest in Sharjah on social media, follow @investinsharjah on Twitter and Instagram.