02 July 2009
KUWAIT: Al-Kharafi Group held a press conference in connection with Assem Ragab's visit, (Egyptian Chairman of the General Authority for Investment) to Kuwait. Attendees were briefed about investment projects in road and marine transportation, food industries, the East of Port Saeed, north west Suez economic zone project, and a lot of projects undertaken by the Ministry of Transportation in Egypt.
The press conference was held at the JW Marriot on Tuesday. The Egyptian Ambassador to Kuwait, Taher Ahmed Farahat, and Ibrahim Saleh, Vice President of Al-Kharafi Group were present at the event.
Ragab, had reviewed the agreement reached by the Egyptian delegation during their visit to Kuwait, in support of communication between the two countries that strengthen partnership with a number of Kuwaiti companies who have invested in Egypt.
Several discussions have been held with the Egyptian delegation, Kuwaiti companies and institutions, as they met with the Chamber of Commerce and Industry comprising Kuwaiti officials," Ragab said.
By meeting with the Kuwait Investment Company's Al-Salam Project in Upper Egypt, discussions were held on ongoing construction with Egyptian authorities," he added. As Ragab stated that the aim of the visits to Gulf countries in general and Kuwait was mainly due to the availability of liquidity. The team is looking forward to good investment opportunities with high returns, especially after the depression created by the global financial crisis at the international level.
He noted that Kuwait is one of the largest investors in Egypt, whether through direct investments in industrial projects or by making indirect investments through various funds, indicating that nearly 700 Kuwaiti companies operate in Egypt.
The Egyptian economy is among the most diversified economies in the Middle East and North Africa, which helps to ensure that the opportunities for growth and long-term stability in all sectors." Ragab said. Ragab pointed out that Egypt was the first Arab and African country to sign the Declaration of the Organization of Economic Cooperation and Development on international investment and multinational companies.
KUWAIT: Al-Kharafi Group held a press conference in connection with Assem Ragab's visit, (Egyptian Chairman of the General Authority for Investment) to Kuwait. Attendees were briefed about investment projects in road and marine transportation, food industries, the East of Port Saeed, north west Suez economic zone project, and a lot of projects undertaken by the Ministry of Transportation in Egypt.
The press conference was held at the JW Marriot on Tuesday. The Egyptian Ambassador to Kuwait, Taher Ahmed Farahat, and Ibrahim Saleh, Vice President of Al-Kharafi Group were present at the event.
Ragab, had reviewed the agreement reached by the Egyptian delegation during their visit to Kuwait, in support of communication between the two countries that strengthen partnership with a number of Kuwaiti companies who have invested in Egypt.
Several discussions have been held with the Egyptian delegation, Kuwaiti companies and institutions, as they met with the Chamber of Commerce and Industry comprising Kuwaiti officials," Ragab said.
By meeting with the Kuwait Investment Company's Al-Salam Project in Upper Egypt, discussions were held on ongoing construction with Egyptian authorities," he added. As Ragab stated that the aim of the visits to Gulf countries in general and Kuwait was mainly due to the availability of liquidity. The team is looking forward to good investment opportunities with high returns, especially after the depression created by the global financial crisis at the international level.
He noted that Kuwait is one of the largest investors in Egypt, whether through direct investments in industrial projects or by making indirect investments through various funds, indicating that nearly 700 Kuwaiti companies operate in Egypt.
The Egyptian economy is among the most diversified economies in the Middle East and North Africa, which helps to ensure that the opportunities for growth and long-term stability in all sectors." Ragab said. Ragab pointed out that Egypt was the first Arab and African country to sign the Declaration of the Organization of Economic Cooperation and Development on international investment and multinational companies.
By Rawan Khalid
© Kuwait Times 2009
