General / Center for Cyber Economics Holds Meeting of Its Executive Committee and Discusses Strategic Priorities to Enhance Understanding of the Economic Dimension of Cybersecurity

Riyadh, Safar 8, 1448 AH, corresponding to July 22, 2026, SPA – The Center for Cyber Economics, established in partnership between the Global Cybersecurity Forum (GCF) and the World Economic Forum (WEF), held the third meeting of its executive committee to review the center's main research tracks and set priorities for the next phase. Members reviewed progress on the center's five strategic axes, which include measuring the overall economic impact of cybersecurity, analyzing and measuring financial and reputational repercussions of cyber incidents, developing competencies and workforce in line with labor market requirements to help close the global cybersecurity skills gap, building cybersecurity resilience indicators at the sector and industry levels to provide practical measurement tools for decision-makers, and strengthening risk management mechanisms with economic models based on scientific and systematic analysis. Engineer Alaa bint Mohammed Al-Fadl, Director General of the Center for Cyber Economics, explained that the economic impact of cybersecurity is gaining increasing importance for governments, businesses, and societies around the world, noting a strategic shift in the global view of the cybersecurity sector and its role in driving development and prosperity for nations. She added that the center contributes to enhancing understanding of the economic dimension of cybersecurity through scientific research, systematic studies, multilateral international cooperation, evidence-based analyses, and providing robust tools for policy formulation and strategy development. The center seeks to empower decision-makers in countries and organizations to make decisions based on sound analyses and accurate indicators that maximize the return on cybersecurity for the economy at both micro and macro levels. The executive committee includes a distinguished group of decision-makers and international leaders from various sectors around the world: His Excellency Engineer Majed bin Mohammed Al-Mazed, Governor of the National Cybersecurity Authority; Lee Sang-jung, President of the Korea Internet & Security Agency; Chris Inglis, former National Cybersecurity Director at the White House; Dr. Saad bin Saleh Al-Aboudi, CEO of the Saudi Information Technology Company (SITE); Dr. Stefan Stroeb, Lead Economist for Infrastructure at the World Bank; Heidi Crebo-Rediker, Senior Fellow at the Center for Geoeconomic Studies of the U.S. Council on Foreign Relations; Professor Sadie Creese, Professor of Cybersecurity at the University of Oxford; John Defterios, energy markets and emerging economies expert and former emerging markets editor for CNN; Dr. Oukou Ichiko, Co-Chair of the Global Future Council on Cybersecurity at the World Economic Forum (WEF); Engineer Abdulrahman bin Mohammed Al-Hassan, CEO of the Global Cybersecurity Forum Foundation; Akshay Joshi, Head of the World Economic Forum Centre for Cybersecurity; and Engineer Alaa bint Mohammed Al-Fadl, Director General of the Center for Cyber Economics. The center, which was announced during the annual meeting of the World Economic Forum in Davos in 2025, is a global platform headquartered in Riyadh, focused on advancing research and studies, enhancing cross-sector collaboration, and developing evidence-based strategies at the intersection of cybersecurity and economics. The center works with its international partners to provide decision-makers with the knowledge and insights needed to measure and leverage the economic value of cybersecurity, and to strengthen cybersecurity's role as a key pillar for economic growth. // End // 16:04 TM 0124