Gulf state officials are making high-profile calls in Miami to &#34;remain calm and continue investing,&#34; but the signals sent privately are starkly different—the protracted war is eroding the economic resilience of the Middle East, and quiet doubts are growing about whether Gulf sovereign wealth funds can maintain their pace of investment in the US.
This week, the Saudi-backed &#34;Future Investment Initiative (FII) Priority Miami&#34; summit was held. In his opening remarks, Yasir al-Rumayyan, Governor of the Saudi Public Investment Fund (PIF), barely mentioned the war, focusing instead on Saudi Arabia's solid economic fundamentals and diversified investment portfolio.
However, according to a report by the Financial Times on Sunday, sources who met privately with Gulf officials revealed that the atmosphere is far more worrying than it appears on the surface—some officials warned that if the conflict drags on beyond April, it will have a greater impact on the Saudi economy and its overseas investment capacity.
Saudi Finance Minister Mohammed al-Jadaan publicly admitted that the economic impact of the conflict is &#34;more severe than after the COVID-19 pandemic,&#34; and stated frankly that the impact will further deepen if the situation persists. Meanwhile, the near-halt of transit traffic through the Strait of Hormuz has already affected multiple sectors of Commodities, including oil, refined products, fertilizers, aluminum, and petrochemicals, pushing oil prices to their highest level since July 2022 and pressuring global stock markets.
<h2>Discrepancy Between Official Stance and Private Sentiment</h2>
During the summit, officials from three Gulf nations—Saudi Arabia, Qatar, and the UAE—publicly emphasized unity and resilience, striving to send a signal of stability to the US business community. al-Rumayyan stated that the PIF &#34;measures returns in decades, not quarters,&#34; and its commitment to global investment remains unchanged.
However, the tone in private settings was reportedly quite different. A top Miami banker said: &#34;The Qataris are under more pressure than expected, and they won't last long. Abu Dhabi is in the same boat.&#34;
While Mohamed Alabbar, founder of Dubai real estate giant Emaar, projected confidence via video link, what attendees generally felt was a carefully suppressed anxiety.
<h2>Middle Eastern Economies Under Pressure, Investment Capacity Questioned</h2>
The impact of the war on Gulf economies is no longer limited to oil price fluctuations. al-Jadaan pointed out that the near-blockade of the Strait of Hormuz has had a serious impact on multiple industries such as refined products, fertilizers, aluminum, and petrochemicals, with the combined shock even exceeding the recovery pressure after the pandemic.
Against this backdrop, the outside world has begun to re-examine the overseas investment capacity of Gulf sovereign wealth funds. The PIF has previously deeply positioned itself in the US market, holding shares in companies like Uber and Blackstone, and participating in the acquisition of Electronic Arts and the financing arrangements for Paramount's $110 billion acquisition of Warner Bros. Discovery.
According to the Financial Times, an individual who traveled from the Middle East for the meeting stated: &#34;Everything appears unchanged for now, but if the situation evolves into a choice between protecting their own citizens and supporting a video game deal, they won't hesitate for long—existing commitments may be postponed or canceled.&#34;
<h2>Investor Support and Concerns Coexist</h2>
At the summit, the attitudes of US investors showed clear divergence. Some held an optimistic view. Bill Ford, Chairman of General Atlantic, said that if a peace agreement can be reached, Iran, Israel, and the Gulf Cooperation Council (GCC) could form a broader Middle Eastern economic zone, &#34;which would be a very attractive investment destination.&#34;
However, other financial figures expressed their concerns bluntly. One financier who voted for Trump said, &#34;There is no clear sign that Trump knows how this war will end.&#34; **Another business leader criticized the government for failing to fully assess the economic cost of actions against Iran, believing that the surge in Commodities prices and the decline in stock markets &#34;cannot last for too long.&#34;
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Middle Eastern financiers are publicly calling to "continue investing" while privately feeling extreme anxiety over the prolonged war. Saudi Arabia's Finance Minister admitted the current shock is "more severe than post-pandemic" and stated that the impact will deepen if the situation persists, as the blockade of the Strait of Hormuz has already hit multiple sectors of Commodities. A top Miami banker stated: "The Qataris are under more pressure than expected and won't last long. The same applies to Abu Dhabi."

- Gulf officials publicly urge "stay calm, continue investing" during the Miami summit, but privately express concerns about the impact of prolonged conflict on the Middle East economy.  
- Saudi Finance Minister Mohammed al-Jadaan warns that the conflict's economic impact could surpass that of the COVID-19 pandemic, stressing that disruptions in the Strait of Hormuz are severely affecting multiple commodity sectors.  
- Amid contrasting public and private sentiments, skepticism grows regarding the sustainability of Gulf sovereign wealth funds' investments in the U.S., as pressures mount on regional economies.

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Faced with Reassurances from Gulf Nations, US Investors Are "Deeply Concerned": How Long Can Middle Eastern Economies Last? Does the Middle East Still Have Money to Invest in the US?