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01 March 2024

GPRC Summit 2023 spotlights risk and governance in UAE's digital future

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By WAM

DUBAI, 26th January, 2023 (WAM) – Dubai's GPRC Summit 2023, which took place on Wednesday, brought together GRC experts, CEOs, executives and key decision-makers from various industries to discuss technologies, insights and key trends shaping the future of enterprise management.

Organised by Ejtemaat Events and hosted by Corporater, the summit focused on the theme of "GPRC - The Future of Effective Enterprise Management for Government and Business Organisations" and addressed the trends impacting the global GRC market, which is expected to reach $134.86 billion by 2030.

In his opening speech at the summit, Mohammed Hamad Al-Kuwaiti, Head of Cyber Security for the Government of the UAE, emphasised the importance of establishing an effective governance, risk, and compliance (GRC) system as a fundamental requirement for a strong cybersecurity strategy. He stated that organisations must first establish a GRC system in order to achieve cybersecurity objectives and create a secure working environment.

Al-Kuwaiti also noted the close link between cybersecurity and GRC and highlighted the role of innovation in governance systems. He added that the Cybersecurity Council, in partnership with the UAE Banks Federation, is committed to creating an innovative work environment and developing cybersecurity policies, procedures, training, and educational materials applicable to industrial control systems, as well as best practices for technology-integrated incident response procedures.

The GPRC Summit 2023 in Dubai set the stage for discussions on the state and transformation of governance, risk, and compliance in the UAE's future digital economy. The summit, which was the world's largest gathering on governance, risk and compliance (GRC) integrated with performance and strategy, offered insights around the theme of "GPRC - The Future of Effective Enterprise Management for Government and Business Organisations".

Abdallah Al Shamsi, Assistant Under-Secretary, Monitoring and Follow-up at the Ministry of Economy, in his keynote address, emphasised the vital role played by the private sector in policy and the need for sound GRC practices to help attract investment and achieve business objectives in the UAE.