LONDON: The UK and Gulf states should do more to connect investment capital with business opportunities in each other’s markets, with financial leaders calling for closer cooperation on project financing, procurement and access to international investors.
Speaking at the UK-GCC Strategic Dialogue at London’s Guildhall on Oct. 20, representatives from Oman, Kuwait and the UK highlighted the potential for Gulf capital to support British industries while UK expertise and investment help the region diversify its economies.
Financing projects early
Edward Prince, director of large corporates and international at UK Export Finance, said major projects increasingly rely on a combination of government funding, private investors, banks and export credit agencies, creating opportunities for businesses on both sides.
He said financing should be considered at the earliest stages of project planning, allowing developers to structure projects around available funding and identify opportunities for suppliers before procurement decisions are made.
The approach can help Gulf developers access a wider range of funding while giving UK companies a clearer route into major projects. At the same time, Gulf investors can bring capital into British industries where investment is needed to expand capacity, develop new technology and strengthen supply chains.
Prince said the UK is seeking investment in digital infrastructure, advanced manufacturing and the energy transition. Government support could extend beyond finance to helping investors identify suppliers, navigate regulations and find suitable sites.
“It’s not just providing money and capital, it’s about providing that kind of expertise,” he said.
The UK’s support for Saudi Arabia’s Six Flags Qiddiya City theme park offered an example of the model in practice, Prince said.
A financing facility worth about $700 million, announced in 2024, involved UK Export Finance working with other financial institutions on an Islamic finance structure. The project also created opportunities for British suppliers in areas including lighting, design and architecture.
Prince said such arrangements could help make large projects possible while enabling UK exporters to benefit from investment in the Gulf.
Oman seeks deeper markets
For the GCC, meanwhile, reforms to financial markets are helping broaden access to capital and encourage greater participation by international investors.
Haitham Al-Salmi, CEO of Muscat Stock Exchange, said Oman’s Vision 2040 has brought government institutions together around economic diversification, with the stock market helping channel proceeds from divestments into other sectors.
“Bringing more companies to the market doesn’t really meet a milestone of just having a deeper market and more market cap,” he said. “Actually, it serves three main objectives of Oman Vision 2040.”
Al-Salmi said the share of Oman’s GDP represented by publicly traded instruments has increased from 20 percent to 40 percent over five years, while market capitalisation has doubled to around $100 billion from $50 billion.
Attracting investors
Abdulmohsin Almukhaizeem, permanent president and CEO of the Kuwait Investment Office in London, said privatization, technological improvements and closer alignment with international market standards are making Gulf markets more accessible to overseas investors.
He also pointed to the growing role of private and international investors in regional share offerings, despite economic uncertainty and geopolitical tensions.
Abdullatif Al-Nusif, deputy CEO of Kuwait Financial Centre, known as Markaz, said the region’s energy resources, land, market liquidity and policy reforms continue to offer opportunities for UK investors.
“I think it’s a region that is to stay; it’s a region that’s resilient, that bounces back, and if anything, it’s a great time for opportunity,” he said.