Kuwaiti Economists Tout China as "Economic Giant"Source: www.export-egypt.com 11/22/2018, Location: Middle East |
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Kuwaiti economists and specialists on Thursday extolled China as an "economic giant" that largely draws capital and promising business and investments. Separately interviewed by KUNA on the sidelines of a Kuwaiti-Sino economic forum held in the Chinese city of Shanghai, the experts said is a further promotion of Kuwaiti-Chinese relations is the key to bilateral investment, economic and trade integration.
"The forum comes in due course as the Kuwait Investment Authority (KIA) opened an office in Shanghai yesterday, and a MoU was signed by both sides less than a week ago to set up a cooperative development mechanism for Silk City and Kuwaiti Islands," Kuwait Industries Union Chairman Hussein Al-Kharafi said. Kuwait is moving from a stage where the government controls all economic activities to a fresh crucial phase where the private sector is stimulated and given a free hand, he told KUNA. Union of Investment Companies Chairman Bader Al-Subaei said the forum is mainly intended to encourage the private sector to help in the fulfillment of Kuwait's 2035 vision, especially regarding Silk City and Kuwaiti islands development project. He commended His Highness the Amir's instructions for cementing economic cooperation with China as a strategic dimension, given that China is a global economic and industrial giant. Deputy Chairman of the Communication and Information Technology Regulatory Authority (CITRA) Khaled Al-Kandari said the forum would weigh how to find an effective way to run investment in Kuwait in line with Kuwait's 2035 vision. He underscored the necessity of drawing up China's successful expertise and experience in the management of smart ports, hoping that such gatherings would continue thanks to relevant benefits to both countries. CEO of the apparatus for developing Silk City and Boubyan Island Faisal Al-Medlej spoke highly of Kuwaiti-Sino relations as "strategic and firm" thanks to their long-time diplomatic ties. He recalled that Kuwait was the first Gulf country to forge diplomatic ties with China and to run development projects there. On his part, Chairman of the Kuwait Banking Association Majed Al-Ajeel said the forum capped a set of agreements that were hammered out in July when His Highness the Amir visited Beijing. He said he looks forward to closer cooperation between Kuwaiti and Chinese banks, hoping that Chinese banks would join Kuwaiti projects. |
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