Treasury & Capital Markets
Saudi Arabia-UAE vie for GCC finance hub status
Competition to lure foreign investors comes amid soaring Middle East wealth, interest
Jayde Cheung
3 May 2024
The oil-rich Middle East, known for its abundant natural resources, is now making significant strides in establishing a strong presence on the global financial stage. While the competition for the title of Asia-Pacific’s financial centre intensifies between Hong Kong and Singapore, the United Arab Emirates ( UAE ) and Saudi Arabia are engaged in a competitive race of their own in the Middle East, vying for global attention after years of meticulously building their financial foundations. This growing prominence is bolstering the confidence of corporations, encouraging them to further invest in the Middle East and expand their operations in the region.