Kuwait seals $27bn of investments in Asia

DEALS SEALED: Kuwait has agreed to invest around $27 billion in nine Asian countries. (Google Maps)

Kuwait signed more than $27 billion of investment agreements with nine Asian countries, including Brunei and the Philippines, during an Asian tour this month, its finance minister said in remarks published on Sunday.

The agreements were in the economic, oil, health and foreign affairs sectors, daily Awan cited Mustapha Al-Shamali as saying.

"The value of the accords and economic and commercial protocols are more than $27 billion, with $3 billion to $4 billion of investments and possible commercial partnerships with each country," Al-Shamali said.

Al-Shamali and Kuwaiti Prime Minister Sheikh Nasser Al-Mohammad Al-Sabah went on a tour of eight Asian countries this month to boost trade ties.

Kuwait would also "cooperate with South Korea, Thailand and the Philippines, in the health sector", Al-Shamali said, without giving details.

Kuwait is talking with Asian countries, including Cambodia, about securing food supplies and investing in agriculture as the Gulf state looks to diversify its sources of food, the state news agency KUNA reported on Saturday.

A delegation including the Kuwait Investment Authority, a sovereign wealth fund, will visit Cambodia, Laos and Myanmar this month to look at investments in agriculture and industry, KUNA cited Al-Shamali as saying on Saturday.

Kuwait wants to boost investments across asset classes in Asia with a focus on Japan, China and India, Al-Shamali said last month.

Print | Email | Discuss this article |

READERS' COMMENTS

View all comments (0)

Have your say

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Security Code *
Please click post only once - your comment will not be published immediately.

MORE FROM ARABIANBUSINESS.COM