Albudaiwi: GCC is a Global Investment Magnet, Driven by Stability and Economic Strength

Secretary General of the Gulf Cooperation Council Jasem Mohamed Albudaiwi. GCC
Secretary General of the Gulf Cooperation Council Jasem Mohamed Albudaiwi. GCC
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Albudaiwi: GCC is a Global Investment Magnet, Driven by Stability and Economic Strength

Secretary General of the Gulf Cooperation Council Jasem Mohamed Albudaiwi. GCC
Secretary General of the Gulf Cooperation Council Jasem Mohamed Albudaiwi. GCC

Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi stated that the strategic geographical location, political stability, and strong economic foundations of the Gulf states, coupled with the acceleration of Gulf integration projects, make the GCC a global destination attractive for investment and a key platform for international partnerships.

These factors, he added, enhance the status of the council states as a major player in shaping the future of the global economy, reported the Saudi Press Agency on Thursday.

The secretary-general's remarks were made during his participation in the opening session of the seventh Milken Institute Middle East and Africa Summit, held in Abu Dhabi, United Arab Emirates.

Reviewing global economic transformations, Albudaiwi emphasized that the Gulf economy is undergoing a strong and sustainable phase, reflecting the success of economic reforms and strategic investments in future sectors.

He said that the Gross Domestic Product (GDP) of the GCC states reached approximately $2.3 trillion in 2024, positioning the council states in ninth place globally and accounting for 63% of the total Arab economy. He added that the contribution of non-oil sectors exceeded 76% of the GDP, an indicator reflecting the success of economic diversification policies.

Albudaiwi also pointed to the strength and stability of the GCC financial sector, which boasts a market value exceeding $4.2 trillion, banking assets amounting to $3.5 trillion, and reserves approaching $800 billion. This is in addition to sovereign wealth funds exceeding $4.8 trillion, a fact that solidifies the council states' position as a key player in enhancing global economic stability, he stressed.

The secretary-general revealed that the GCC states are negotiating free trade agreements (FTAs) with numerous international partners, including the United Kingdom, China, Türkiye, Japan, Indonesia, New Zealand, Pakistan, and Korea. These negotiations aim to enhance trade and investment flows, diversify income sources, and open new markets for Gulf products, thereby elevating competitiveness and reducing consumer prices within the GCC states.

Regarding artificial intelligence, he confirmed that the GCC states treat AI as a fundamental pillar for economic and social transformation.

The General Secretariat has adopted several regulatory frameworks and guiding principles, including the Guiding Framework for AI Ethics (2024), the General Framework for AI Applications in Public Services (October 2025), and the General Framework for Climate Forecasting and Disaster Management using AI (October 2025). Furthermore, the comprehensive Gulf Strategy for Artificial Intelligence is set to be adopted in December 2025.



Iran Continues Attacks on Gulf States on Sixth Day of War

Smoke from intercepted missiles appears in the sky over Doha (EPA). 
Smoke from intercepted missiles appears in the sky over Doha (EPA). 
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Iran Continues Attacks on Gulf States on Sixth Day of War

Smoke from intercepted missiles appears in the sky over Doha (EPA). 
Smoke from intercepted missiles appears in the sky over Doha (EPA). 

On the sixth day of the war between the United States and Israel on one side and Iran on the other, Tehran continued launching attacks against Gulf countries, while air defenses in Saudi Arabia, Kuwait, Bahrain and the United Arab Emirates intercepted missiles and drones.

Saudi Arabia

Saudi Arabia’s Ministry of Defense announced that its air defenses intercepted and destroyed three cruise missiles outside the city of Al-Kharj in central Saudi Arabia. The defenses also shot down three drones east of Al-Kharj governorate.

The ministry’s official spokesman added that another drone was intercepted and destroyed east of the Al-Jawf region in northern Saudi Arabia near the border with Jordan.

Qatar

Qatar’s Ministry of Defense said Thursday that the country had come under a missile attack, confirming that its air defenses were responding to the incoming missiles.

In a statement carried by the Qatar News Agency, the ministry urged citizens, residents and visitors to remain calm and follow instructions issued by the security authorities.

Qatar’s Ministry of Interior also announced that, as a precautionary measure to ensure public safety, authorities had temporarily evacuated residents living in the vicinity of the US embassy. Alternative accommodation was provided, the ministry said in a statement on its official account on platform X.

Since the outbreak of the US–Israeli war against Iran on Saturday, Iranian forces have repeatedly launched missiles and drones at several Gulf states, including Qatar.

Complaint to the United Nations

Qatar sent identical letters to United Nations Secretary-General Antonio Guterres and to Michael Waltz, the United States’ permanent representative to the UN and president of the Security Council for March, detailing the latest Iranian attack on Qatari territory.

According to the Qatari Ministry of Foreign Affairs, the country’s permanent representative to the UN, Sheikha Alya Ahmed bin Saif Al Thani, said in the letter that the attack constituted a “flagrant violation” of Qatar’s sovereignty and a direct threat to its security and territorial integrity, warning that it represents an unacceptable escalation threatening regional stability.

The letter reviewed details of the ongoing attacks, citing Defense Ministry figures showing that Qatar had so far detected three cruise missiles, 101 ballistic missiles, 39 drones and two Su-24 fighter jets.

Qatar said its armed forces successfully intercepted three cruise missiles, 98 ballistic missiles, 24 drones and the two fighter aircraft. It stressed that the armed forces possess the capabilities necessary to protect the country’s sovereignty and confront any external threat.

The country concluded by strongly condemning the attacks and affirming its full right to respond in accordance with Article 51 of the UN Charter in defense of its national interests. It also requested that the letter be circulated as an official Security Council document.

Kuwait

Kuwait on Thursday denied reports of an incident near Mubarak Al-Kabeer Port after Iran claimed that the Iranian Revolutionary Guard Corps had attacked a US oil tanker sailing in the Gulf.

Kuwait’s Ministry of Interior said the incident occurred outside the country’s territorial waters and at least 60 kilometers away from the port.

Earlier, the United Kingdom Maritime Trade Operations (UKMTO) agency reported receiving a notification of an incident about 55 nautical miles southeast of Mubarak Al-Kabeer Port.

The captain of an oil tanker anchored in the area reported hearing and seeing a large explosion on the vessel’s port side before a small boat was seen leaving the scene.

An oil spill was observed, potentially causing environmental damage, while water also entered the tanker. UKMTO confirmed that all crew members were safe.

Iran’s Tasnim news agency reported that a fire had broken out aboard the tanker in the northern Gulf.

The Iranian Revolutionary Guard Corps also renewed its threat to seize control of the Strait of Hormuz, warning that vessels from the United States, Israel, European countries and their allies would not be allowed to pass and could be targeted.

The Strait of Hormuz plays a pivotal role in global energy trade, with about one-fifth of the world’s oil shipments passing through the waterway near Iran’s coast.

Missile attacks on vessels have repeatedly been reported in the Gulf, the Strait of Hormuz and the Gulf of Oman. Iranian missile and drone threats have nearly halted commercial shipping in the region since the latest hostilities began.

The US president said the US Navy would escort ships through the Strait of Hormuz if necessary.

United Arab Emirates

On the sixth day of the conflict, the UAE’s air defenses detected seven ballistic missiles, intercepting six while one fell inside the country. Authorities also detected 131 drones, intercepting 125 of them, while six landed on Emirati territory.

The attacks resulted in three deaths — from Pakistan, Nepal and Bangladesh — and 94 minor injuries among people of multiple nationalities, including Emirati, Egyptian, Ethiopian, Filipino, Pakistani, Iranian, Indian and others.

Reuters reported late Thursday that repeated explosions were heard in Abu Dhabi near Zayed International Airport. The UAE’s National Emergency Crisis and Disaster Management Authority urged residents to move to safe locations and take shelter until the danger passed.

Since the beginning of the Iranian attacks, the UAE says it has detected 196 ballistic missiles, intercepting 181. Thirteen fell into the sea and two struck inside the country. Authorities also detected 1,072 Iranian drones, intercepting 1,001 while 71 landed within UAE territory. Eight cruise missiles were also intercepted.

The UAE Ministry of Defense said its forces remain fully prepared to counter any threat and safeguard the country’s sovereignty, security and stability.

Bahrain

Bahrain’s Ministry of Interior said Thursday evening that a facility in the Maameer area had been targeted, adding that authorities responded immediately to the incident.

Earlier, Bahrain’s Defense Force said it had destroyed 75 missiles and 123 drones targeting the kingdom since the start of what it described as Iranian attacks.

The military urged residents to remain indoors except in cases of necessity, avoid filming military operations or debris sites and rely only on official sources for information.

Japan Evacuates Citizens

Japan’s Foreign Ministry announced Thursday that it will evacuate Japanese nationals from four Middle Eastern countries using chartered flights as the US–Israeli war against Iran continues.

According to the Kyodo news agency, Tokyo raised its travel advisory level for Kuwait, Bahrain, Qatar and the United Arab Emirates — as well as Saudi Arabia and Oman — to Level 3, urging citizens to avoid all travel.

Japanese nationals wishing to leave will be transported overland to Saudi Arabia and Oman before boarding chartered flights to Tokyo.


Saudi FM Discusses Regional Developments with Brazilian, Polish Counterparts

Saudi Foreign Minister Prince Faisal bin Farhan (Asharq Al-Awsat)
Saudi Foreign Minister Prince Faisal bin Farhan (Asharq Al-Awsat)
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Saudi FM Discusses Regional Developments with Brazilian, Polish Counterparts

Saudi Foreign Minister Prince Faisal bin Farhan (Asharq Al-Awsat)
Saudi Foreign Minister Prince Faisal bin Farhan (Asharq Al-Awsat)

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah held separate phone calls with the Minister of Foreign Affairs of the Federative Republic of Brazil, Mauro Vieira, and the Deputy Prime Minister and Minister of Foreign Affairs of the Republic of Poland, Radosław Sikorski.

During the discussions, the ministers reviewed the latest developments in the region, examined their implications for regional and international security and stability, and exchanged views on the ongoing efforts being undertaken to address these challenges.


Saudi, UAE Defense Ministers Affirm Full Solidarity against Iranian Aggression

Saudi Arabia’s Minister of Defense, Prince Khalid bin Salman bin Abdulaziz. (SPA)
Saudi Arabia’s Minister of Defense, Prince Khalid bin Salman bin Abdulaziz. (SPA)
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Saudi, UAE Defense Ministers Affirm Full Solidarity against Iranian Aggression

Saudi Arabia’s Minister of Defense, Prince Khalid bin Salman bin Abdulaziz. (SPA)
Saudi Arabia’s Minister of Defense, Prince Khalid bin Salman bin Abdulaziz. (SPA)

Saudi Arabia’s Minister of Defense, Prince Khalid bin Salman bin Abdulaziz, held a phone call on Thursday with Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defense of the United Arab Emirates.

During the call, the two officials condemned the Iranian aggression against the Kingdom of Saudi Arabia, the United Arab Emirates, and other brotherly states, the Saudi Press Agency said.

They also expressed full solidarity and commitment to providing necessary support for any measures taken in response.