Chief executive officers and vice presidents from the Arabian Gulf region are set to discuss new strategies for reform of economic and financial sectors at an upcoming conference in Dubai, UAE.

 

The inaugural edition of Top CEO Conference and Awards will take place on April 5 at the Westin Mina Seyahi.

 

The event, which is to be held in recognition of the very best in GCC business leadership, is organised by Trends magazine and Insead, a leading international business school, and sets the standard for business awards programmes in the region by honouring only leaders from publicly listed companies.

 

Economic diversification and technology were the two most disruptive forces in the GCC last year, said a statement.

 

As low oil prices continue to adversely affect the government budgets in the Arabian Gulf countries as well, cybersecurity and the digital element pose huge risks for the GCC economies, it said.

 

The speakers will discuss the most pressing issues, including ‘economic diversification’, ‘When Tech Kills Your Business’ and ‘cybersecurity’, with the aim of finding solutions for economic improvement.

 

Julien Hawari, co-chief executive officer (CEO) of Mediaquest Corp, said: “The biggest challenge for businesses is the disruptive factors that are beyond the control of their boardrooms, which is why the solutions discussed at the Top CEO Conference are of crucial importance.

 

“The Top CEO Conference not only recognises and celebrates the achievements of the region’s leading CEOs, but also provides a platform for the most pressing issues in the financial, economic and business sectors to be openly discussed.”

 

Christine Lagarde, managing director, International Monetary Fund, said at a recent event in the UAE that the country’s authorities had made the correct measures in building large fiscal and external buffers to advance economic diversification and, more recently, they have taken steps to address the consequences of the sharp drop of oil prices, notably the reform of fuel subsidies. 

 

There is a need to pursue gradual fiscal consolidation by raising non-oil revenues and fully phasing out energy subsidies, as well as a requirement to safeguard financial stability and to continue implementing growth-enhancing reforms, she said.

 

The award’s stringent and open evaluation procedures position it as the foremost leadership awards ceremony in the region and a benchmark for business leaders and their respective organisations. 

 

It has stood out as a distinctive and unique event, as only the CEOs of listed GCC companies are evaluated. 

 

The awards are presented following an analysis of the financial statements of these companies, with the assessment process being fully audited to ensure that corporate governance and transparency form part of the overall ranking. - TradeArabia News Service