Kuwait encourages Chinese investment

Kuwait has urged Chinese companies and conglomerates to partake in its national development schemes. Samih Johhar Hayat, Kuwait Ambassador to China made the call during a conference in Guangzhou, as he addressed companies that specialise in construction and infrastructure.

Ambassador Hayat said that Kuwait is seeking to diversify investments and therefore seeks help from economically advanced states for technology, expertise and training, as reported in a statement issued by the Kuwaiti Embassy in China.

He commented on Kuwait’s approach to expanding foreign investments in Kuwait, working in coordination with Sheikh Dr Meshaal Jaber Al-Ahmad Al-Sabah, Director-General of the Kuwait Direct Investment Promotion Authority (KDIPA). Ambassador Al-Hayat revealed that he is currently coordinating with Chinese Authorities to organise an official visit to the nation by the Minister of Commerce, Industry and the Acting Minister of State for Youth, Khaled Nasser Al-Roudhan.

He indicated at the approach to expand foreign investments in Kuwait; technically through coordination with Sheikh Dr Meshaal Jaber Al-Ahmad Al-Sabah, Director-General of Kuwait Direct Investment Promotion Authority (KDIPA).

The visit, aimed at discussing strategic investment cooperation, is tentatively set in first week of next month. The approach towards China, the country’s first commercial partner, is “strategically important for us,” he said. Kuwait established diplomatic ties with China in 1971, becoming the first Arab Gulf state to take such a step. Moreover, it supported, in words and action, China’s initiative to revive the Silk Road in 2013. It signed an accord in this respect with Beijing at the time.

Ambassador Al-Hayat indicated that he is acting diligently, in light of guidelines from the higher Kuwaiti authorities, to regulate the distinctive Kuwaiti-Chinese relationship at various levels.

The Ambassador, who called for the augmentation of commercial exchanges, had held a series of meetings with local officials in Guangzhou, with attendance from the State of Kuwait General Consul in the city, Malek Al Wazzan. These discussions discussed enhancing cooperation at various levels.