Why the Gulf states are investing in Central Asia and the South Caucasus
Following the sharp decline in oil prices in recent years, Central Asian and South Caucasus countries accelerated their efforts to diversify their economies away from oil and gas.They also began looking for additional investors. The wealthy states of the Persian Gulf were a natural fit, as they had the financial resources and were also interested in diversifying their economies away from petroleum. The United Arab Emirates (UAE) and Saudi Arabia have led the overseas investment charge.