Kuwait seeks to boost US investments during state visit

Kuwait hopes to attract billions of dollars of US private investment during a state visit to Washington this week
Kuwait Chamber of Commerce and Industry Board Member Osama Al Nisf.
By Jeremy Lawrence
Thu 07 Sep 2017 09:30 AM

A trade delegation accompanied Kuwaiti Emir Sabah Al Ahmad Al Sabah as he arrived in the US capital on Wednesday for official talks with US President Donald Trump.

During the talks, trade officials are keen to showcase opportunities for US private investment in Kuwait, reported Kuwait News Agency (KUNA).

New joint ventures between the US and Kuwait will help the Gulf country push through new development plans, the Kuwait Chamber of Commerce and Industry Board Member Osama Al Nisf said, according to KUNA.

Last year Kuwait began implementing its National Program for Economic and Fiscal Sustainability, aimed at decreasing the Gulf state’s dependence on oil.

The first stage of the 25-year national privatisation strategy involves privatising infrastructure projects such as airports, telecoms and power plants, Deputy Prime Minister and Minister of Finance Anas al Saleh said on Wednesday in statements carried by KUNA.

Kuwait's Sovereign Wealth Fund investments in the US are estimated at over $300 billion, and range from stocks, bonds - primarily US treasuries - real estate and technology, data provided by the US Embassy in Kuwait to Kuwait News Agency KUNA revealed.

US companies are well represented in Kuwaiti oil and gas, defence and automotive sectors, the report said.

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Last Updated: Thu 07 Sep 2017 09:49 AM GST

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