Saudi-led DCO urges global tech firms to protect data

Personal customer information now accounts for 44 percent of all data breaches, in addition to being the costliest type of data breach.
Short Url
Updated 27 February 2022
Follow

Saudi-led DCO urges global tech firms to protect data

Governments representing more than half a billion people are urgently calling on global technology companies to better protect user data, through a joint statement released by the Saudi-led Digital Cooperation Organization.

The Joint Statement on Data Privacy Policies urges global technology companies to work with governments to develop privacy and user terms that protect user data and ensure that data use aligns with informed user consent.

The statement was issued by the DCO, a global multilateral organization launched in the Kingdom to enable digital prosperity for all, with a focus on digital economy initiatives supporting youth, entrepreneurs and women. The DCO’s member state countries — Saudi Arabia, Bahrain, Jordan, Kuwait, Nigeria, Oman, Pakistan and Rwanda — have a combined population of more than half a billion people and a combined GDP of nearly $2 trillion.

Referring to the joint statement, DCO Secretary-General Deemah Al-Yahya said: “In 2021, almost half of global data breaches involved personal user data. Through the DCO, our member states, representing more than half a billion people, are today calling on global tech leaders to better protect users from the misuse of personal information.

“To truly realize the potential of the internet and digital technologies to improve peoples’ lives and open the doors to economic opportunity, we must strengthen trust that personal data will be protected. This is especially true for groups that are underrepresented in the digital economy or more vulnerable to data privacy violations.

“We believe that the best way to achieve this is by sitting programmers and policymakers at the same table, working collaboratively with other nations and with private companies to better align privacy terms and government regulations to overcome this emerging economic challenge.”

The joint statement highlighted several privacy standards issues to be addressed, including ensuring that data is used in line with the informed user consent, is not transferred to third parties that breach member state privacy regulations, and enables users to migrate or remove their data from platforms.

According to IBM’s Cost of a Data Breach report, personal customer information now accounts for 44 percent of all data breaches, in addition to being the costliest type of data breach. The report found that the average cost of a data breach involving personal customer information averaged $4.24 million per breach in 2021, 10 percent more than the year before.

Working to maintain economic prosperity, the joint statement supports several DCO initiatives to better enable the inclusive growth of the digital economy while addressing the growing challenges of data privacy protection. These include the Center of Excellence for Data Flows, a world-leading initiative to better enable data flows among countries and align data protection policies.


RLC Global Forum places Kingdom at center of future of retail

Updated 16 January 2026
Follow

RLC Global Forum places Kingdom at center of future of retail

The RLC Global Forum will return to the Saudi capital on Feb. 3–4 to shape the future of retail and consumer-facing industries at a defining moment for growth against a backdrop of shifting cross-border commerce, evolving consumption patterns, and the global AI imperative.
As the world’s economic and cultural gravity continues to shift, Riyadh stands at the intersection of transformation by connecting East and West, tradition and innovation, and providing the ideal stage for this global dialogue.
The forum’s launch coincides with the announcement of two strategic partnerships with Cenomi Centers and Panda Retail Company, highlighting Saudi Arabia’s emergence as a driving force in the global growth narrative.
Speaking to Arab News ahead of the annual forum, Panos Linardos, chairman of RLC Global Forum, said the event enables decision-makers to create a sustainable growth and innovation strategy in retail by monitoring major transformative forces affecting worldwide leaders. 
“At the 2026 RLC Global Forum, the priority is not identifying trends — in fact most leaders already see the signals — but understanding how those forces collide and reshape decision-making. This year’s agenda reflects a world at a growth crossroads: capital is more disciplined, consumers are more selective, and traditional operating models are under strain,” said Linardos.
“This year we are focused on three interconnected questions. First, where does enduring growth come from when scale alone no longer guarantees resilience? Second, how are power and value shifting across the retail ecosystem? And third, how do markets like Saudi Arabia move from rapid expansion to sustainable, system-level value creation?” said the chairman.
“We believe that retail does not operate in isolation. That is why the forum is structured to examine these dynamics across retail, real estate, technology, and investment as a single interdependent system. This integrated view, rather than siloed thinking, is where meaningful strategy now takes shape,” he added.
The forum will convene more than 2,000 senior decision-makers in Riyadh, with participants spanning global retail groups, sovereign-linked investors, developers, technology platforms, policymakers, and academic institutions from more than 40 countries.
“What matters most, however, is not scale but composition. You must understand that this is an invitation-only audience shaped deliberately around decision-making authority. CEOs sit alongside ministers, investors alongside operators, and academics alongside practitioners, not to offer commentary, but to interrogate assumptions and test strategies against real-world constraints,” said Linardos.
What distinguishes the forum is its ability to bring global perspectives into direct conversation with regional realities.
“As Saudi Arabia’s role in global trade, tourism, and consumer markets accelerates, that intersection has become increasingly relevant for leaders reassessing how and where growth is built,” he said.
Reports indicate that retail sales in the Kingdom are forecast to reach $161.4 billion by 2028. “The scale of the opportunity is clear, but the more interesting question is how that growth is shaped,” Linardos told Arab News. “Demographics, digital adoption, tourism growth, and large-scale urban development are converging at once. That creates opportunity, but also raises the bar. The next phase of retail growth in the Kingdom will favor models that integrate physical space, digital infrastructure, cultural relevance, and operational discipline.”
At the 2026 RLC Global Forum, many of the discussions center on this transition, he said.
The Kingdom’s advantage lies in its ability to design ecosystems where retail, hospitality, culture, and experience reinforce one another. Creating this long-term, integrated value is a core focus of the discussions at the forum, he added.
Commenting on the forum’s role in the future of the Saudi retail landscape, Linardos said: “Saudi Arabia does not need another conference to showcase ambition. What it benefits from — and increasingly demands — is a platform for informed, global dialogue grounded in execution. The RLC Global Forum plays that role by positioning Saudi Arabia not as a case study, but as a strategic participant in shaping the future of retail and consumer economies.”
“By bringing global leaders into Riyadh, the forum allows for an exchange that is both outward-looking and locally anchored. As the Kingdom moves from rapid transformation to long-term institution building, these conversations become more consequential. The forum is thus a critical catalyst in translating Vision 2030’s ambitions into a resilient, global-market reality,” he added.
The RLC Global Forum is a leading platform that brings together the world’s most influential retail leaders, innovators, and policymakers to drive positive industry change. It marks the next phase of the Retail Leaders Circle’s 12-year mission to connect and empower decision-makers across the retail and consumer-facing sectors.
Through high-level dialogue and strategic cross-industry initiatives, the forum addresses the long-term forces defining the trajectory of retail and its interconnected ecosystems.
Alongside the annual retail forum in Riyadh, the RLC Global Forum curates a calendar of high-profile events around the world, including the CEO Summit in New York and the RLC Fashion Summit in Milan.