EY Jordan showcases cybersecurity expertise at exhibition in Amman

05 June 2018 Consultancy-me.com

Big Four firm EY has sponsored and participated in Jordan’s 12th Special Operations Forces Exhibition. With digital attacks an increasing threat to nations’ security, the consultancy was on hand to showcase its leading cybersecurity capabilities in the MENA region.

The biennial Special Operations Forces Exhibition (SOFEX) is the biggest defence exhibition focused on special ops and national security. Taking place every two years at the King Abdullah I Airbase in Amman, Jordan, the specialised event showcases equipment used by special ops forces, as well as field training and defence facilities. There are also special talks and seminars conducted by military and defence officials from around the world, examining issues related to terrorism and homeland security.

The event is held with the patronage of King Abdullah II, and with the support of the Jordanian army. Other sponsors of the 12th SOFEX event included aerospace and defence technology firm Northrop Grumman, as well as Big Four accounting and consulting firm EY.

EY has been in Jordan since 1953, and is the largest audit and business advisory in the country – with 350 employees and fourteen partners. Their clients include banks, family businesses and multinational corporations along with the public sector.

EY Jordan showcases cybersecurity expertise at exhibition in Amman

While the consultancy is not necessarily an expert in special military operations, it is savvy when it comes to cybersecurity – an issue of growing importance in terms of national security. As state and non-state actors increasingly have the cyber-tools to disrupt foreign nations’ digital networks – revealing secrets, destabilising infrastructure, ransoming company and government agency data, etc. – strong cyber security is becoming a more central element of overall national security.

The Middle East Special Operations Commanders Conference (MESOC) was held in conjunction with SOFEX. As part of a panel discussion at MESOC, titled ‘Managing Resilience in an Era of Expanding Cyber Conflict,’ EY Partner and EMEIA Cyber and Resilience Leader Raddad Ayoub discussed topics of emerging relevance in cybersecurity, demonstrating EY’s leadership, deep insights, and globally-consistent methodology in the domain.

At the exhibition the following day, EY promoted its cybersecurity, forensic technology, discovery, and cyber analytics services. The consultancy also promoted its MENA Digital Security Operations Centre (DSOC) that it recently established in Oman due to increasing demand for digital security services in the Middle East and North Africa. The first of its kind in the region, the multimillion-dollar cybersecurity centre focuses on threat ‘hunting’ and detection.

“Every day, cyberattacks are increasing in sophistication and danger levels,” commented Bishr Baker, Managing Partner at EY Jordan. “There is no denying that when it comes to cyberattacks, the real concern is when it will happen rather than if it will happen. Organisations – governmental or private – operating in today’s vast digital landscape need to understand this and evaluate the current cyber threats and vulnerabilities out there, how they might affect them, what measurements they have in place to guard themselves, and finally what they can do to mitigate cybersecurity risks.

“EY Jordan is excited to have taken part in this event, where we were able to share our innovative cyber defense capabilities, in an effort to combat the risk of cyberattacks at all levels,” Baker added.

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EY estimates $33 billion boon to UAE economy from Expo 2020 Dubai

16 April 2019 Consultancy-me.com

Professional services firm Ernst & Young has outlined the potential economic impact of Expo 2020 Dubai to the UAE economy, concluding a possible $33 billion windfall in gross value add and a near 50,000 full-time equivalent jobs per annum to 2031.

With the Expo 2020 Dubai global showcase now just around the corner – and expected to attract 25 million visits from across the world during its six month schedule from October next year – professional services firm Ernst & Young has released an economic impact report for the event, calculating a US$33 billion (AED122.6 billion) boost of gross value added (GVA) to the local economy from 2013–2031 along with contributing more than 900,000 ‘job years’.

“Expo 2020 Dubai is an exciting long-term investment for the UAE, and is expected to have a significant impact on the economy and how jobs are created directly and indirectly,” said EY MENA Transaction Advisory Services partner Matthew Benson, adding; “Dubai aims to use the event to further enhance its international profile and reputation. The event will celebrate innovation, promote progress and foster cooperation, and entertain global audiences.”

According to the report, the six months of the Expo – the first to be held in anywhere in the Middle East, Africa or South Asia in the event’s 168-year history – will contribute around 1.5 percent of the UAE annual forecast GDP, with the analysts taking in ‘direct’ increases in economic activity, ‘indirect’ benefits of increased supply chain demand, and ‘induced’ benefits from increased spending by employees of participating firms to arrive at its $33 billion figure.EY estimates $33 billion boon to UAE economy from Expo 2020 DubaiConsidering further the planning and legacy phases, EY has in addition estimated AED 4.7 billion in investment to small and medium enterprises (SMEs) during the pre-Expo phase, supporting approximately 12,600 job-years, with the Expo expected to support more than 900,00 full-time equivalent (FTE) job-years in total in the Emirates from 2013 to 2031 – equivalent to some 49,700 FTE jobs. Meanwhile, strong legacy planning will ensure the ongoing benefits.

“Over 80 percent of the Expo built environment is planned to be retained for District 2020, and eventually expand into a city covering more than four million square meters,” states the report, adding that District 2020 aims to support the UAE’s future vision as to sustainable economic development and an innovation-driven economy, with a supportive business environment for key growth industries such as logistics and transport, tourism, construction, real estate and education.

“Although the Expo event lasts less than a year, the positive economic impact continues far beyond the event,” said Jamie Torrens, EY MENA’s head of Economic Advisory in its transaction advisory service division. “Across the period of our study, spanning the Pre-Expo, During-Expo and Legacy phases between 2013 and 2031, Expo 2020 is expected to support billions of dirhams of Gross Value Added (GVA) and thousands of jobs in the UAE.”

As a breakdown, the three largest impact areas across the full study period will be events organisation & business services (contributing over half of the overall figure) followed by construction and then hospitality, while transport, storage & communications will be another significant contributor during the life of the Expo and its planning phase. Retail will also see a boost during the legacy period, with nearly 550,000 jobs years created in this period across sectors.

“This independent report demonstrates that Expo 2020 Dubai is a critical long-term investment,” said Expo 2020 Executive Director Najeeb Mohammed Al-Ali. “Not only will the event encourage millions around the world to visit the UAE in 2020, it will also stimulate travel and tourism and support economic diversification for years after the Expo, leaving a sustainable economic legacy that will help to ensure the UAE remains a leading destination for business, leisure and investment.”

Related: Accenture and SAP roll out next-generation technology for Dubai Expo