HSBC CEO: Gulf could make Hormuz redundant within 5 years
Business
HSBC CEO Georges Elhedery believes the Gulf region could make the Strait of Hormuz "redundant" within five years by building new logistics routes.
He shared this in Dubai, pointing out that these changes are meant to help the region stay strong and flexible, especially with the impact of the Iran war.
HSBC affirms steadfast support for GCC
Elhedery highlighted HSBC's steady support for Gulf Cooperation Council (GCC) countries, saying HSBC's commitment to supporting the GCC region remained "steadfast."
His visit underlines how important the region is to HSBC, as they work together on new trade routes to boost economic stability and reduce reliance on a single chokepoint.