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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
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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.

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Gulf

World Defense Show Opens in Riyadh with Expanded Int’l Participation

The exhibition includes a fully integrated airport with a 2,700-meter runway, four aircraft taxiways, and extensive display areas (Asharq Al-Awsat)
The exhibition includes a fully integrated airport with a 2,700-meter runway, four aircraft taxiways, and extensive display areas (Asharq Al-Awsat)
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World Defense Show Opens in Riyadh with Expanded Int’l Participation

The exhibition includes a fully integrated airport with a 2,700-meter runway, four aircraft taxiways, and extensive display areas (Asharq Al-Awsat)
The exhibition includes a fully integrated airport with a 2,700-meter runway, four aircraft taxiways, and extensive display areas (Asharq Al-Awsat)

The World Defense Show opened in Riyadh on Sunday, bringing together defense and military companies from around the globe to showcase advanced technologies, as Saudi Arabia accelerates efforts to localize its military industries and strengthen domestic supply chains.

The third edition of the exhibition is being held under the patronage of King Salman bin Abdulaziz Al Saud and organized by the General Authority for Military Industries from Feb. 8 to Feb. 12.

It features official delegations, government entities, and international firms operating in the defense and security sectors.

The event comes as part of Saudi Vision 2030, which aims to build a comprehensive national defense industry and localize more than 50 percent of military spending, while boosting operational readiness and strategic autonomy.

Ahmad Al-Ohali, governor of the General Authority for Military Industries and chairman of the exhibition’s supervisory committee, said the show reflects the Kingdom’s commitment to innovation, localization, and the development of an integrated defense ecosystem.

He said the exhibition includes live air and ground demonstrations, static displays, and newly introduced zones designed to enhance cooperation between government bodies and major national and international defense companies.

Andrew Pearcey, chief executive of the World Defense Show, said the event would feature a comprehensive program starting with an official delegations initiative linking senior officials with investors and industry leaders to support international industrial and technological cooperation.

Pearcey said the “Defense Industry Lab” would highlight emerging technologies and applied research, while dedicated zones would focus on naval systems and Saudi supply chains, connecting local manufacturers and small and medium-sized enterprises with global firms.

The program also includes meetings between Saudi government entities and industry representatives to discuss operational requirements and investment opportunities.

He added that the venue includes a fully integrated airport with a 2,700-meter runway, four aircraft taxiways, and large display areas, allowing the exhibition to host integrated air, land, and maritime demonstrations.

Participation in the 2026 edition is expected to exceed previous shows, reflecting growing international interest in Saudi Arabia’s defense market.

South Korea’s air force aerobatic team, the Black Eagles, will take part in the exhibition for the first time in the Middle East. The South Korean Air Force said it would deploy 9 T-50 fighter jets, including 1 reserve aircraft, 4 C-130 transport planes, and about 120 personnel.

Gulf

Saudi Arabia Condemns RSF Attacks on Civilians and Aid Convoys in Sudan

An elderly man picks up his food aid ration at the Umdulu Camp, in Engpung County, Sudan, January 30, 2026. (Karl Schembri/Norweigan Refugee Council/Handout via Reuters)
An elderly man picks up his food aid ration at the Umdulu Camp, in Engpung County, Sudan, January 30, 2026. (Karl Schembri/Norweigan Refugee Council/Handout via Reuters)
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Saudi Arabia Condemns RSF Attacks on Civilians and Aid Convoys in Sudan

An elderly man picks up his food aid ration at the Umdulu Camp, in Engpung County, Sudan, January 30, 2026. (Karl Schembri/Norweigan Refugee Council/Handout via Reuters)
An elderly man picks up his food aid ration at the Umdulu Camp, in Engpung County, Sudan, January 30, 2026. (Karl Schembri/Norweigan Refugee Council/Handout via Reuters)

Saudi Arabia strongly condemned on Saturday the Rapid Support Forces’ attack against a humanitarian aid convoy in Sudan’s Kordofan.

A Foreign Ministry statement said the Kingdom expressed its strong condemnation of the attack against Al-Kuweik Military Hospital, a humanitarian aid convoy affiliated with the World Food Program, and a vehicle transporting displaced civilians.

“These acts are unjustifiable under any circumstances and are flagrant violations of all humanitarian norms and relevant international agreements,” it stressed.

“The Kingdom called on the RSF to immediately cease these violations and to fulfill their moral and humanitarian obligations by ensuring the safe and unhindered delivery of humanitarian assistance to those in need, in accordance with international humanitarian law and the Jeddah Declaration signed on May 11, 2023,” it added.

The Kingdom reiterated its firm position in support of Sudan’s unity, security, and stability, the need to preserve its legitimate institutions.

It voiced its rejection of “foreign interference and the continued actions of certain parties in supplying illicit weapons, mercenaries, and foreign fighters, despite their stated support for a political solution,” saying such “conduct is a primary factor in prolonging the conflict and exacerbating the suffering of the Sudanese people.”

A drone attack by the RSF hit a vehicle carrying displaced families in central Sudan Saturday, killing at least 24 people, including eight children, a doctors’ group said, a day after a World Food Program aid convoy was targeted.

The attack occurred close to the city of Rahad in North Kordofan province, said the Sudan Doctors Network, which tracks the country’s ongoing war. The vehicle was transporting displaced people who fled fighting in the Dubeiker area, the group said in a statement. Among the dead children were two infants.

Gulf

OIC Condemns Terrorist Bombing of Mosque in Islamabad

A Pakistani man reacts as people attend a protest against the suicide bomb blast that killed dozens of people, in Peshawar, Pakistan, 07 February 2026. (EPA)
A Pakistani man reacts as people attend a protest against the suicide bomb blast that killed dozens of people, in Peshawar, Pakistan, 07 February 2026. (EPA)
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OIC Condemns Terrorist Bombing of Mosque in Islamabad

A Pakistani man reacts as people attend a protest against the suicide bomb blast that killed dozens of people, in Peshawar, Pakistan, 07 February 2026. (EPA)
A Pakistani man reacts as people attend a protest against the suicide bomb blast that killed dozens of people, in Peshawar, Pakistan, 07 February 2026. (EPA)

The Organization of Islamic Cooperation (OIC) General Secretariat strongly condemned on Saturday the terrorist bombing that targeted a mosque in Islamabad.

The secretariat stressed its categorical rejection of terrorism in all its forms, especially those targeting places of worship.

It underlined its firm stance in condemning these criminal acts, which are contrary to human values and religious principles.

The OIC offered its sincere condolences to the government and people of Pakistan and to the families of the victims.

It also reiterated its full solidarity with Pakistan in its efforts to combat terrorism and boost its security and stability.

At least 30 people killed in a suicide bombing at a Muslim mosque during Friday prayers.