国际英语新闻：Gulf oil exporters upbeat on stable crude prices

Guaranteed by the stable oil revenues, these countries blueprinted short and medium term plans to develop infrastructure and diversify the non-oil sector.

Saudi Arabia, the world's top oil exporter and the largest economy in the Middle East, adopted a 400-billion-dollar infrastructure investment plan.

Kuwait, the holder of around 10 percent of the global proven oil reserves, also brought on agenda a five-year plan to invest more than 100 billion dollars in projects such as the founding of the "Silk City" business town near the border with Iraq and upgrading the oil facilities.

The tiny emirate is expected to welcome its 12th consecutive year of budget surplus in the 2010 fiscal year. It has accumulated around 140 billion dollars in budget surplus in the past 11 fiscal years.

That trend was followed by Qatar, who will bring the World Cup for the first time to the Mideast. The Qatari government said it would spend more than 50 billion dollars in upgrading infrastructure and construction of mega projects to prepare for the tournament.

"That would attract more investors here and opportunities would be affluent," said Pang Xu, Deputy Managing Director of Sinohydro Corporation (Qatar).

Gulf Arab states are home to several world top sovereign wealth funds grown from steady oil and gas revenues.

The Abu Dhabi Investment Authority, the world's largest sovereign wealth fund, holds assets of around 627 billion dollars. Saudi Arabia's sovereign wealth fund operates 415 billion dollars ranks third, and was followed by Kuwait Investment Authority (8th) and Qatar Investment Authority (13th), according to data from the Sovereign Wealth Fund Institute.

These sovereign wealth funds have increased their presence in the western financial and real estate markets since the onset of the global financial crisis. They have also become pools of money for banks and companies around the world to boost capital flow.