Kuwait woos China investors

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. Later, Minister Dashti held a similar meeting with senior officials of China Great Wall Industry Corporation (CGWIC). Dashti invited the CGWIC President Yin Liming to visit Kuwait soon to study potential investment opportunities in Kuwait. She discussed with the CGWIC officials Kuwait's government plans to launch a satellite. Dashti also noted that Kuwait is interested in benefiting from the CGWIC's expertise in clean energy technology. For his part, Liming pointed out that his company is keen to involve in direct talks with Kuwaiti government on fruitful cooperation between the two sides. The CGWIC is the sole commercial organization authorized by the Chinese government to provide satellites, commercial launch services and to carry out international space cooperation. As the professional company promoting international cooperation for China's space industry, CGWIC is devoted to the internationalized development of China's space industry. CGWIC has developed into a system integrator for space products and services. It can meet customers' multi-directional needs by providing comprehensive solutions for commercial launch services, satellite export, satellite ground tracking and control station construction, satellite applications, project financing, project insurance and technical training, etc. Through extensive international cooperation, CGWIC enjoys an excellent reputation in the international aerospace industry, the financial community and the insurance circle.