Minister enhancing investment climate

ABU DHABI: Kuwait Finance Minister Fahad Al-Jarallah has stressed the importance of concerted efforts between the public and private sectors in various regional and international forums in order to highlight the promising investment climate in Kuwait. This came in remarks to KUNA during his visit to the pavilion of the Kuwait Direct Investment Promotion Authority (KDIPA) and the Kuwaiti Public-Private Partnership Authority at the Eighth World Investment Forum.

Highlighting the image of the Kuwaiti investment scene is a responsibility for all concerned bodies to help shed light on the investment map in Kuwait, he added. He pointed out the importance of participating in regional and international forums, which would attract foreign investments, expand cooperation with markets around the world, and keep pace with developments, investment, and technical activity in a way that enhances sustainable development in Kuwait. The forum aims to facilitate dialogue and action on global and emerging investment and development challenges.

It also discusses the main investment challenges resulting from multiple global crises, revitalizing investment in food security, the transition to low-carbon energy, health systems, supply chain resilience, and how to enhance productive capacities in the poorest countries. Sovereign funds ‘key’ An official of the KDIPA has affirmed the necessity of establishing sovereign investment funds based on international partnerships for financing key projects. The official, Naif Al-Haddad, director of strategic research at KDIPA, was speaking to KUNA after participating in the World Investment Forum.

He indicated in the interview with KUNA that stakeholders have become particularly aware of the importance of such funds, based on lessons learned from the experience of coping with the outbreak of the coronavirus. He affirmed that KDIPA’s participation in the event is aimed at promoting the development ventures in Kuwait in the sectors of energy, water, sewage, and public health, in addition to transport, communications, real estate, and waste treatment. Al-Haddad also indicated that the forum constituted an opportunity to lure foreign investors to partake in the development schemes in Kuwait. — KUNA

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