GCC integration driver of investment: Al-Budaiwi

DUBAI, Sept 7: GCC Secretary-General Jasem Al-Budaiwi said Monday that GCC states have become an integrated economic and investment bloc supported by strong financial foundations, stable economies and clear development visions. Speaking at the 15th AIM Congress 2026 in Dubai, Al-Budaiwi said the GCC economy ranks among the world’s top 10, with GDP reaching USD 2.4 trillion. He said GCC sovereign wealth funds hold more than USD five trillion in assets, while commercial banks’ total assets reached about USD 3.9 trillion in 2025.

Foreign direct investment stock in GCC states reached about USD 792.7 billion in 2025, including USD 171.4 billion in intra-GCC investments, representing nearly 22 percent of the total. These indicators, he said, reflect growing economic interdependence, adding that GCC integration itself has become a driver of investment.

Al-Budaiwi said national visions have expanded the private sector’s role, strengthened legislative and regulatory frameworks and opened broad investment opportunities in future-oriented sectors. These include artificial intelligence, advanced technologies, renewable energy, future industries, transport, logistics, tourism, financial services and the knowledge economy. He stressed that the GCC’s investment future rests on strong economies, deeper integration, global openness and investment in the future. Al-Budaiwi called on investors and partners worldwide to view the GCC not merely as an investment destination, but as a partner in shaping the future of global investment. He said this future should be based on trust, partnership, knowledge, innovation, sustainable development and prosperity.

Al-Budaiwi praised the UAE’s efforts to promote international economic and investment dialogue, saying Dubai has demonstrated how ambitious visions can become tangible achievements and challenges can become opportunities. The 2026 AIM Congress opened in Dubai Monday with Kuwait represented by Finance Minister Dr. Yaqoub Al-Refaie, alongside senior officials, decision-makers, investors and business leaders from around the world. The three-day event brings together participants to discuss investment and economic opportunities. (KUNA)