GCC Chief: Private sector is essential to ensure sustainable Gulf economy

GCC Chief: Private sector is essential to ensure sustainable Gulf economy

The private sector is one of the most essential pillars in ensuring a sustainable Gulf economy capable of facing economic challenges, said GCC Secretary-General Jassim Al-Budaiwi Sunday.

This came in a speech during his participation in the 62nd meeting of the Board of Directors of the Gulf Chambers, hosted by the Kingdom of Bahrain, headed by the Saudi President of the Federation of Gulf Chambers for the current session, Hassan Al-Huwaizi, and with the participation of the Kuwait Chamber of Commerce and Industry Chief, Mohammad Al-Saqer.

Al-Budaiwi conveyed to the Board of Directors the assurances of the leaders and presidents of the Gulf Cooperation Council countries to support the process of joint Gulf action to achieve the aspirations of their citizens towards greater interconnection, cooperation, and integration in various fields.

He also expressed his aspiration to increase the cooperation and integration between the GCC and the Gulf private sector to address different challenges and obstacles.

For his part, Al-Huwaizi called for the establishment of a joint Gulf financing and investment fund directed to support initiatives of mutual Gulf companies that seek to build partnerships and economic integration of the GCC countries.

He pointed to the success achieved by government financial funds in the GCC countries that support private sector projects in various development fields.

Source: Kuwait News Agency (KUNA)