Kuwait Cpec Business community

Kuwait asks Balochistan Govt. to conduct CPEC conference for the business community

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Consul General of Kuwait Salem Yousif Al-Hamdan visited Karachi Chamber of Commerce and Industry (KCCI). He addressed businessmen that CPEC is a vital project which would be beneficial for Pakistan and the region at large. He asked the Balochistan government to arrange a CPEC conference to inform the Kuwaiti businessmen and investors about opportunities offered under CPEC. Yousif Al-Hamdan stressed that not only Kuwaiti but Gulf’s entire business community would be invited to attend the conference. He said that CPEC conference would be useful in discovering investment opportunities given by the China-Pakistan Economic Corridor.

In a bid to further discuss and devise strategies for streamlining the issuance of business visas, the Kuwaiti Interior Ministry is ready to hold negotiations with Pakistan, said Consul General of Kuwait Salem Yousif Al-Hamdan.

In this regard, he added, Pakistan�s Ministry of Interior had been approached some time ago but unfortunately Kuwait had not received any response so far. Speaking at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI), the envoy told businessmen that around 120 communities were living in Kuwait which was why it had a stringent visa policy.

“We want to streamline the issuance of business visa, hence, negotiations must take place between interior ministries of the two friendly countries as soon as possible,” he added. Talking about the China-Pakistan Economic Corridor (CPEC), the consul general pointed out that it was a very important project, which would have a positive impact not only on Pakistan but the entire region.

“To attract the interest of Kuwaiti business community and other investors from the Gulf, we asked the government of Balochistan to organise a CPEC conference in Karachi,” he said.

“We will make sure that this conference is attended not only by the Kuwaiti business community but also by other potential investors from the Gulf region.”

The envoy added that the conference would help in raising awareness about the significance of CPEC project and provide a perfect opportunity to highlight the immense CPEC-related investment opportunities in Pakistan.

Al-Hamdan pointed out that Kuwait had signed many MoUs with different institutions from all provinces in Pakistan while work on some of these MoUs had already begun, adding that the Kuwait Investment Authority also intended to undertake numerous projects in Pakistan, particularly in Sindh.

The Kuwaiti envoy was of the opinion that Karachi, being the financial, trading and industrial center of Pakistan with two ports, could offer a lot of trade and investment opportunities to the Kuwaiti business community.

Speaking on the occasion, KCCI President Agha Shahab Ahmed Khan stated that Karachi – the economic hub of Pakistan – offered profitable investment opportunities as well as facilities for trade, investment and joint ventures to the business and industrial community of Kuwait. “During 2018, Pakistan exported goods worth $172.69 million to Kuwait as against exports of $166.78 million in 2017.”

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