Dubai, February (پاکستان پوائنٹ نیوز 12 فبراير 2025ء) Albudaiwi's remarks came today during a panel session organized by the GCC General Secretariat in coordination with the United Arab Emirates (UAE) Ministry of Finance, titled "Enhancing Resilience: Designing the Future of the GCC Economies Amid Regional and Global Challenges," held on the sidelines of the World Governments Summit 2025 in Dubai, UAE.
The session featured the participation of UAE Minister of State for Financial Affairs Mohamed Al Hussaini, UAE Minister of Economy Abdullah bin Touq Al Marri, Kingdom of Bahrain Minister of Finance and National Economy Shaikh Salman bin Khalifa Al Khalifa, and International Monetary Fund (IMF) Managing Director Kristalina Georgieva.
Albudaiwi pointed out that the GCC has implemented several initiatives aimed at enhancing economic diversification and sustainable development, stimulating innovation, providing an investment environment, and achieving comprehensive development, in addition to joint Gulf projects aimed at enhancing productive linkages between member states and accomplishing economic integration.
"These initiatives include adopting integrated economic policies among member states in infrastructure projects and essential services such as transport, communications, electricity, information technology, health, education, tourism, and the oil and gas industry," Albudaiwi stated.
Furthermore, he addressed the efforts of the GCC states and their commitment to continue supporting the principle of promoting international peace, security, stability, and sustainable development in the region and around the world. He highlighted the importance of enhancing international cooperation to address current global challenges and achieve peace and sustainable development, stressing the GCC's commitment to resolving conflicts peacefully, respecting the sovereignty of states, and enhancing the international system to meet the aspirations and needs of current and future generations.
He noted that the GCC states have witnessed significant structural developments over the past period, transitioning from economies primarily reliant on oil to more diversified and resilient economies.
"Economic reforms have contributed to improving the business environment, attracting investments, and enhancing the role of the private sector in development in the GCC. The region has also seen advancements in infrastructure, financial systems, and economic legislation, strengthening its ability to adapt to global changes," His Excellency said.
"The GCC states aim to achieve sustainable structural transformation by supporting innovation, enhancing manufacturing industries, developing the services sector, and investing in modern technologies. The shift towards a digital economy and the development of smart infrastructure have become essential components of future growth strategies, contributing to enhancing the global competitiveness of our countries,” Albudaiwi said.
