Manama, Bahrain–GCC Secretary-General Jassim Al-Budaiwi has emphasized the crucial role of the private sector in ensuring a sustainable and resilient Gulf economy.
Al-Budaiwi made these remarks during his speech at the 62nd meeting of the Board of Directors of the Gulf Chambers, hosted by Bahrain.
The meeting was chaired by Hassan Al-Huwaizi, the Saudi President of the Federation of Gulf Chambers, and saw participation from Mohammad Al-Saqer, Chief of the Kuwait Chamber of Commerce and Industry.
Al-Budaiwi assured the board that leaders and presidents of the Gulf Cooperation Council countries are committed to supporting joint Gulf action aimed at fulfilling the aspirations of their citizens. This includes fostering greater interconnection, cooperation, and integration across various sectors.
Expressing his hopes for the future, Al-Budaiwi called for increased cooperation between the GCC and the Gulf private sector to tackle the myriad challenges and obstacles facing the region.
Al-Huwaizi, on his part, proposed the establishment of a joint Gulf financing and investment fund. This fund would be directed to support initiatives of mutual Gulf companies aiming to build partnerships and achieve economic integration within the GCC countries.
He also highlighted the success of government financial funds in the GCC that have been instrumental in supporting private sector projects in various development fields.
The meeting serves as a significant step toward realizing a more integrated and sustainable Gulf economy, focusing on the pivotal role of the private sector.