Economic Trend News
- Kuwaiti envoy extends olive branches to Chinese investors
Date: 18-Dec-2007 Sources: (Xinhua Online)
KUWAIT, Dec. 16 (Xinhua) -- Badar Saleh Al-Taneib, Kuwaiti consulate general to Hong Kong, has extended olive branches to investors from Chinese mainland and Hong Kong, as Kuwait plans to launch several major infrastructure projects in the coming years, the Kuwaiti News Agency reported Sunday.
Addressing a forum on the Middle East and the development of China in Hong Kong recently, Al-Taneib said Kuwait plans to build a new port and exploit an island in the next few years, at a cost of 50 billion U.S. dollars.
Last week China and Kuwait signed a treaty on jointly building an oil refinery in China's Guangdong province, at a cost of 5 billion dollars.
With Hong Kong trying to expand its banking service in Islamic countries, Kuwait has much experience to share with the Chinese special administrative region as it currently has three Islamic banks which operate very well, the consulate general said.
Kuwait, Chinese mainland and Hong Kong are open to future cooperation in many fields, including infrastructure, communication, energy, insurance, hotels, tourism and real estate, said Al-Taneib.
If entrepreneurs from Chinese mainland and Hong Kong are interested in investing in Kuwait, his consulate is more than willing to offer its support, he said.
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