GCC countires have a future beyond fossil fuels in industries such as entertainment and hospitality, Hazem Ben-Gacem, co-CEO of Investcorp told CNBC.
alliance that includes large oil-exporting countries.
When asked if he is worried about $50 oil, he said there will always be issues to be worried about, but "we can't be bogged down." Whether oil prices are low or high, what matters is the strategy and direction for the future, said Ben-Gacem. "I think there is a clear path for GCC 2.0 that is away from fossil fuel. That is very exciting," he said.
"I have no doubt ... in 15, 20 years' time, I think it will be very impressive what this region of the world has accomplished," he added.Another investor at the Milken Institute summit separately weighed in on
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