Riyadh, January 23, 2025 – The Global Cybersecurity Forum (GCF) and the World Economic Forum (WEF) have signed an agreement to establish the Centre for Cyber Economics (CCE) in Riyadh, announced during the WEF Annual Meeting 2025 in Davos, Switzerland. This landmark initiative aims to address the economic dimensions of cybersecurity, providing decision-makers worldwide with tools to safeguard the global economy while enhancing cyber resilience.
Context and Background
The new Centre for Cyber Economics (CCE) represents a strategic partnership between the GCF—an institute established by Royal Decree in 2023—and the WEF, a leading international organization. The CCE will serve as a global platform to advance knowledge on the intersection of cybersecurity and economics, enabling policymakers to build a deep understanding of how cyber risks impact economic stability. By fostering research and collaboration, the Centre will also contribute to formulating robust policies and strategies to protect critical infrastructure and global trade networks.
Key Details
Eng. Majed bin Mohammed Al-Mazyed, Governor of the National Cybersecurity Authority, acting on behalf of the GCF Board of Trustees, highlighted that this collaboration builds on Saudi Arabia’s world-leading position in cybersecurity. The Kingdom’s contributions to the sector at local, regional, and global levels have earned recognition for its successful and pioneering approach. Al-Mazyed noted that the CCE sits within the framework of Saudi Arabia’s aims to build global platforms and launch pioneering initiatives, including the GCF itself, which was established to push knowledge boundaries and foster international cooperation in cyberspace.
Implications and Impact
The establishment of the CCE in Riyadh reinforces the Kingdom’s role as a hub for global cybersecurity dialogue and innovation. By addressing the economic dimension of cybersecurity, the Centre will help nations worldwide quantify cyber risks, optimize investments in cyber defenses, and develop frameworks to ensure digital economic growth. This initiative also strengthens Saudi Arabia’s diplomatic and economic ties with international partners, such as the WEF, and underscores the country’s commitment to shaping a secure and prosperous digital future for all.
Vision 2030 Alignment
The Centre for Cyber Economics aligns closely with Saudi Vision 2030, which prioritizes digital transformation, economic diversification, and global leadership in emerging sectors. By launching initiatives like the CCE, the Kingdom demonstrates its dedication to building a knowledge-based economy and enhancing cyber resilience—key enablers of sustainable growth. This forward-looking project exemplifies how Saudi Arabia is leveraging its expertise and partnerships to create a safer, more prosperous world, in line with Vision 2030’s objectives of innovation and international collaboration.
20 Questions
Q1. What is the Global Cybersecurity Forum (GCF)?
A1. The GCF is an international platform based in Riyadh, established by Royal Decree in 2023, focused on advancing cybersecurity knowledge, fostering cooperation in cyberspace, and enhancing global cyber resilience.
Q2. What is the World Economic Forum (WEF)?
A2. The WEF is a leading international organization headquartered in Geneva, Switzerland, that engages leaders from business, government, and civil society to shape global, regional, and industry agendas.
Q3. What is the Centre for Cyber Economics (CCE)?
A3. The CCE is a new global platform, co-founded by the GCF and WEF, devoted to studying and addressing the economic dimensions of cybersecurity to support informed policymaking.
Q4. Where will the Centre for Cyber Economics be based?
A4. The CCE will be based in Riyadh, the capital of the Kingdom of Saudi Arabia, reinforcing the city’s role as a hub for cybersecurity innovation and global dialogue.
Q5. When was the agreement to establish the CCE announced?
A5. The agreement was announced on January 23, 2025, during the WEF Annual Meeting 2025 in Davos, Switzerland.
Q6. Who signed the agreement for the GCF and WEF?
A6. The agreement was signed by representatives of the GCF and WEF, with the GCF represented by Eng. Majed bin Mohammed Al-Mazyed, Governor of the National Cybersecurity Authority.
Q7. What is the main goal of the CCE?
A7. The CCE aims to advance knowledge and provide robust tools for formulating policies and strategies that safeguard the global economy while enhancing cybersecurity worldwide.
Q8. How does the CCE relate to Saudi Arabia’s cybersecurity efforts?
A8. The CCE builds on Saudi Arabia’s world-leading cybersecurity position, recognized for its successful and pioneering approach at local, regional, and global levels.
Q9. What is the National Cybersecurity Authority (NCA)?
A9. The NCA is the Saudi government body responsible for overseeing national cybersecurity strategy, policy, and operations to protect the Kingdom’s digital infrastructure.
Q10. Why is the economic dimension of cybersecurity important?
A10. Cybersecurity threats can disrupt economies, cost billions, and undermine trust. Understanding the economic impact helps nations allocate resources effectively and build resilient digital systems.
Q11. How will the CCE help decision-makers?
A11. The CCE will provide research and studies that enable leaders to understand the link between economics and cybersecurity, supporting evidence-based policy creation and risk management.
Q12. What role does the WEF play in this initiative?
A12. The WEF brings global expertise, networks, and platforms to the partnership, ensuring the CCE’s work aligns with international best practices and reaches a broad audience of leaders.
Q13. Is this the first such collaboration between GCF and WEF?
A13. While GCF and WEF have collaborated in the past, this agreement establishes a formal, dedicated center specifically focused on the economics of cybersecurity.
Q14. How does the CCE support Vision 2030?
A14. The CCE aligns with Vision 2030 by promoting digital transformation, economic diversification, and global leadership in emerging sectors like cybersecurity.
Q15. What kinds of research will the CCE conduct?
A15. The CCE will research the economic impact of cyber threats, cost-benefit analysis of security investments, and frameworks for measuring cyber resilience in national economies.
Q16. Will the CCE involve international partners besides WEF?
A16. Yes, the CCE is expected to collaborate with governments, private sector firms, and academic institutions worldwide to develop comprehensive solutions for cyber economics.
Q17. What is the significance of basing the CCE in Riyadh?
A17. Basing the CCE in Riyadh highlights Saudi Arabia’s commitment to becoming a global hub for cybersecurity and innovation, leveraging its strategic location and investment in talent.
Q18. How does this initiative enhance global cybersecurity?
A18. By providing data-driven insights and policy tools, the CCE helps nations strengthen cyber defenses, deter attacks, and foster international cooperation to address shared threats.
Q19. What is the timeline for the CCE becoming operational?
A19. Specific operational timelines have not been announced, but the agreement marks the formal start of planning and development activities for the Centre.
Q20. How can entities get involved with the CCE?
A20. Interested organizations can engage through the GCF and WEF channels, with opportunities for collaboration in research, events, and policy development once the Centre launches.
Reader Feedback
We value your thoughts. Please share your feedback on this article.
Your feedback helps us improve our coverage.