Kuwait: Despite Economic Trouble, $120 bln Mega Projects ExecutedSource: www.export-egypt.com 2/15/2016, Location: Middle East |
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Regardless of the current economic situation, primarily dwindling oil prices, major development projects valued in the vicinity of USD 120 billion are being carried out, said a Kuwait Chamber of Commerce and Industry (KCCI) member.
While meeting a visiting Omani commercial delegation, KCCI Member Tareq Al-Mutawaa said Kuwait's development projects and civil servants making up roughly 90 percent of the country's public and private workforce would not be affected by the present financial circumstances. He added that the Omani team's visit mainly aimed to explore Oman's available investment opportunities for Kuwaiti investors, hailing bilateral strong social and economic bonds. The head of the Omani delegation, Amer Al-Hajri said his country boasts a set of investment incentives, including foreign investors' ownership of shares in Omani businesses and tax exemptions. He added that Oman enjoys political and economic stability, unrestricted transfer of money and profits and free trade and easy access to world markets. Foreign companies, which provide trade, industrial and service activities, can open commercial representation offices in Oman, he pointed out. |
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