Following on the initiative of Prime Minister H.E. Shahid Khaqan Abbasi, Pakistan-Kuwait Investment Conference was held today at Kuwait Chamber of Commerce & Industry. From Pakistan, a high-level trade and investment delegation, headed by H.E. Mr. Naeem Y Zamindar, Chairman, Board of Investment and comprising senior government officials; head of the provincial BoI and leading Pakistani businessmen participated. The Kuwaiti side was headed by Mr. Abdulwahab Al Wazzan, Second Vice President, Kuwait Chamber of Commerce & Industry (KCCI). A number of prominent Kuwaiti investors and businessmen also participated.

Prior to commencement of the Investment Conference, Chairman BoI held bilateral meetings with Mr. Farooq Bastaki, Managing Director, Kuwait Investment Authority (KIA); Mr. Abdul Wahab Al Badar, Director General, Kuwait Fund for Arab Economic Development (KFAED). While appreciating the ongoing cooperation between Pakistan and these two important financial institutions, the Chairman, BOI encouraged greater participation in ongoing development projects.

The Chairman, BOI also met H.E. Ali M. T. Al-Ghanem, President KCCI.

While addressing the Conference, Chairman BoI underscored the deep rooted relations between the two countries and the need for enhancing bilateral trade and investment to commensurate the close ties. He said that Pakistan was at a turning point and due to its strategic location, the country offered great investment opportunities. He highlighted the investor friendly policies and measures adopted by the government to ease doing business in Pakistan, which could benefit Kuwait and the entire Ummah. The Chairman, BOI invited Kuwaiti investors to benefit from the Special Economic Zones designated by the Government of Pakistan for foreign investors. He also highlighted investment opportunities in Gawadar.

Ms. Naheed Memon, Chairperson Sindh Board of Investment, highlighted the investment opportunities in Sindh. She invited Kuwaiti partnership particularly in agro and energy sectors, including Thar Coal and renewable energy initiatives.

Representatives of the Punjab Board of Investment and National Highway Authority also invited Kuwaiti partnership in various ongoing projects, which would be beneficial for further economic growth of both countries. Kuwaiti side was apprised about the investment opportunities available in the road network and infrastructure development projects going on in the country.

The Kuwaiti side while appreciating the measures being taken to attract foreign investment invited the Pakistani side to share technological experiences in different sectors. The Kuwaiti side also encouraged Pakistani businessmen to hold exhibitions to promote Pakistani products and assured their complete support.

The Embassy also arranged a business meeting which was attended by prominent Kuwaiti and international investors and businessmen in different sectors including infrastructure development, energy, food and agriculture, tourism and information technology. The event provided an opportunity to not only further highlight the investment opportunities in Pakistan but also for B2B meetings between the private sectors.

The Kuwaiti businessmen showed keen interest in the Pakistani products being showcased by the accompanying Pakistani business delegation. The interaction has encouraged greater direct B2B cooperation between the private sectors of both countries, with possibility of medium to long term partnerships.

The important two day visit and successful private sector interactions have given greater impetus to the growing trade and investment ties between Pakistan and Kuwait.

Kuwait
5th March 2018

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