Kuwait Invites Chinese Investors to Participate in Development Projects

Kuwait’s Minister of State for Cabinet Affairs and Minister of State for Planning and Development Rola Dashti invited Thursday Chinese investors to have a share in the development projects in Kuwait.

“Kuwait is looking forward to bigger contribution from China state-owned and private companies in the execution of its ambitious multi-billion dollar development plan,” Dashti said in meeting with senior officials of the China Communications Construction Company Ltd (CCCC).

The CCCC, the largest state-owned transportation infrastructure group in China, has won USD-408-million-contract from the Kuwaiti government to construct Boubyan Port’s entrance, which is composed of soft foundation treatment, road and bridge engineering. The work in the project has already started.

“Kuwait does not want to confine cooperation with the CCCC on the Boubyan Port, but rather eyes the Chinese giant’s consulting partners in other projects,” Dashti stressed.

“The Kuwaiti government plans put up for private sector’s investments to complete construction and operate the still-under construction Mubarak Al-Kabir Port and to upgrade other ports.” The Kuwaiti minister shed light on the Gulf Cooperation Council’s plan to build a railway network to link the six member states.

“We hope we will be able to take part in the building and operation of the network,” she said.

She revealed that the Kuwait government in cooperation with the National Assembly is planning a series of legislative reforms to encourage foreign investments and remove obstacles that prevents the private sector from contributing effectively in the national economy.

For his part, the CCCC Executive Director and Chairman Zhou Jichang greatly welcomed Minister Dashti and her delegation’s visit to China and its call for the Chinese investors to pour more capitals on Kuwait markets.

Zhou made a presentation about the company businesses and fields of work.

He briefed Dashti over a number of obstacles facing foreign investors in Kuwait and urged the government to tackle them to create a more investment-friendly environment.

The CCCC conducts its infrastructure construction business primarily through port construction, road and bridge construction, railway construction, investment business, overseas engineering, as well as municipal public works, housing construction, urban rail transit and airport construction.

In addition, the Company is also involved in logistics, infrastructure design, dredging operations, as well as port machinery, marine equipment and steel products manufacturing operations. The Company conducts its business in domestic and overseas markets.

[mappress]

Source: kuna, February 28, 2013