ID :
163786
Thu, 02/24/2011 - 14:54
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https://oananews.org//node/163786
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Kuwait unprecedented in its economic development
By Kawther Al-Ghanim KUWAIT, Feb 24 (KUNA) -- The state of Kuwait, which celebrates these days its national days of the 50th of Independence Day, 20th of Liberation Day and the 5th anniversary of His Highness the Amir's assumption of power, has accomplished unprecedented steps on the path of its economic development and its internal and external investments.
During Kuwait's 1st Economic Exhibition for Arab and Foreign Embassies in November 2010, Deputy Prime Minister and Foreign Minister Sheikh Dr. Mohammad Al-Sabah praised the great economic and commercial expertise of Kuwait.
He noted that Kuwait has had long experiences in investments that went back before the discovery of oil, adding that this small Gulf state had a historical presence in North Africa, the Indian Peninsula and the Far East. Upon this commercial and economic legacy, Kuwait has made sure to continue commercial commu nication and exchange of investments with various countries around the world.
Locally, the leadership of Kuwait has been mostly concerned in promoting a development plan by building a basis for national economy with the participation of private sectors.
This development plan is based on His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah's wishes and to acheive his comprehensive strategic vision of transfering Kuwait into a financial center and an investment attraction through the next 25 years.
Kuwait relies on accomplishing its development plan on its huge oil revenues which constitute 91.5 percent of the country's general income during the periods of 2002-2003 to 2007-2008.
Speaking to Kuwait News Agency (KUNA), Secretary-General of the Franco-Arab Chamber of Commerce Dr. Saleh Al-Tayar said that Kuwait has played a leading role in achieving development in the Arab and Western worlds.
He further said that Kuwait's private and public sectors gained the world's respect and appreciation because of these two sectors' great accomplishments of industrial projects.
Kuwait Central Bank estimated Kuwait's foreign investments to USD 16 billion in 2008, placing Kuwait in first place in the Middle East and Europe.
During Kuwait's 1st Economic Exhibition for Arab and Foreign Embassies in November 2010, Deputy Prime Minister and Foreign Minister Sheikh Dr. Mohammad Al-Sabah praised the great economic and commercial expertise of Kuwait.
He noted that Kuwait has had long experiences in investments that went back before the discovery of oil, adding that this small Gulf state had a historical presence in North Africa, the Indian Peninsula and the Far East. Upon this commercial and economic legacy, Kuwait has made sure to continue commercial commu nication and exchange of investments with various countries around the world.
Locally, the leadership of Kuwait has been mostly concerned in promoting a development plan by building a basis for national economy with the participation of private sectors.
This development plan is based on His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah's wishes and to acheive his comprehensive strategic vision of transfering Kuwait into a financial center and an investment attraction through the next 25 years.
Kuwait relies on accomplishing its development plan on its huge oil revenues which constitute 91.5 percent of the country's general income during the periods of 2002-2003 to 2007-2008.
Speaking to Kuwait News Agency (KUNA), Secretary-General of the Franco-Arab Chamber of Commerce Dr. Saleh Al-Tayar said that Kuwait has played a leading role in achieving development in the Arab and Western worlds.
He further said that Kuwait's private and public sectors gained the world's respect and appreciation because of these two sectors' great accomplishments of industrial projects.
Kuwait Central Bank estimated Kuwait's foreign investments to USD 16 billion in 2008, placing Kuwait in first place in the Middle East and Europe.
