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Arab Times
06-05-2025
- Business
- Arab Times
Determined Austria looks to up Kuwaiti investment
KUWAIT CITY, May 6 : Austrian Ambassador to Kuwait Ulrich Frank has lauded the strong and solid Kuwaiti- Austrian relations which he described as 'excellent and advanced' at all levels and in various areas of cooperation, indicating these are historical relations spanning 60 years. In a statement to reporters on the sidelines of a reception he hosted at his residence on the occasion of the visit of the Austrian trade delegation, Frank revealed this is the second time he was appointed as his country's ambassador to Kuwait -- the first was in 2012. He stated that when he was offered the appointment again to Kuwait, he did not hesitate to accept it. He affirmed that he is exerting tremendous efforts to support, strengthen and develop bilateral relations with Kuwait. He said Kuwait hosted the first round of political consultations between the two countries, which strengthened the consensus between them. He looks forward to Vienna hosting the next round of consultations. He confirmed that the Austrian trade delegation's visit to Kuwait reflects the strength of bilateral relations between the two countries and the shared desire to enhance economic cooperation, whether in the fields of trade, investment, science, technology or innovation. He added 'we believe there is great potential to expand cooperation between Austria and Kuwait. While precise figures are not available regarding the size of Kuwaiti investments in Austria due to the confidential nature of most of them, we believe they are significant and influential investments.' He went on to affirm that the Austrian Embassy is working hard to encourage Kuwaiti investments in his country by enhancing communication between businesspersons and facilitating access to available investment opportunities. 'We are working hard to build a sustainable and fruitful economic partnership that benefits both countries. We look forward to a bright future of constructive cooperation with Kuwait,' he stressed. On the other hand, Chairman of the Kuwaiti-Austrian Business Friendship Association (KABFA) Sheikh Abdullah Al-Mubarak asserted that relations between Kuwait and Austria are characterized by mutual trust, which constitutes a solid foundation for strengthening economic and trade cooperation between the two countries. In a press statement on the sidelines of his participation as the guest of honor at the event, Sheikh Abdullah pointed out that 'as chairman of the association, I am elated to participate in this important meeting organized by the Austro-Arab Chamber of Commerce (AACC), with the attendance of a select group of multidisciplinary Austrian companies.' He said this high-level trade visit is the first in more than five years, making it a valuable opportunity to enhance trade exchange and explore new areas of cooperation. He clarified that 'personal and business communication are no less important than economic figures; indeed, they are the foundation upon which sustainable success is built. Although Austria is small, it possesses high-quality and advanced technologies in sectors like construction and renewable energy. Kuwait and the region can benefit from such sectors, especially in light of the development vision of Kuwait.' On Kuwaiti investments in Austria, Sheikh Abdullah confirmed the existing investments; indicating that 'the Austrian market is smaller than traditional European markets such as Germany and France, but it is stable and safe. It has an encouraging legal environment, which enhances confidence among Kuwaiti investors.' Moreover, former Austrian Defense Minister and AACC President Dr. Werner Fasslabend emphasized that his visit to Kuwait, which was organized in cooperation with Kuwait Chamber of Commerce and Industry (KCCI), aims to strengthen bilateral relations; particularly in the area of economic cooperation between the two countries. He disclosed 'we are here today accompanied by a delegation of 22 Austrian companies, in addition to prominent figures, including the President of the Austrian Industry Federation -- one of the most prominent economic figures in Austria, along with representatives of leading global companies such as Rosenbauer and ANSERS.' He said the goal of the visit is not limited to exchanging documents or signing agreements, as it rather extends to building trust through direct personal communication. He believes that personal trust is the foundation for building successful business relationships. 'Through this visit, we want to learn about the country and its economy, and most importantly, to communicate directly with the individuals and stakeholders.
Arab Times
03-05-2025
- Business
- Arab Times
Austrian trade delegation to visit Kuwait from May 5 to 7
VIENNA, May 3: Kuwait's Ambassador to Austria Talal Al-Fassam announced that a high-level Austrian trade delegation will visit Kuwait May 5-7, to explore economic and commercial cooperation opportunities. In a statement to KUNA, Ambassador Al-Fassam said that the delegation includes representatives from 22 Austrian companies active in key sectors such as healthcare, investment, renewable energy, firefighting technologies, construction, oil and gas, and tourism. The visit is the result of coordinated efforts between Kuwait's Embassy in Vienna, the Austro-Arab Chamber of Commerce (AACC), the Austrian Economic Chambers, and the Kuwait Chamber of Commerce and Industry, aiming to broaden prospects of cooperation between the two countries. Al-Fassam stated that this visit is an important step toward expanding cooperation and attracting quality investments aligned with Kuwait Vision 2035, and stressed the visit's significance in advancing Kuwait- Austria economic ties. Kuwait and Austria share longstanding economic relations, including cooperation in investments, technology, equipment supply, and partnerships in the energy and environmental sectors. Austria is also an active European supporter of sustainable development projects, while Kuwait is working under its 2035 vision to diversify its economy and engage with new markets and international partners. (KUNA)
Zawya
02-05-2025
- Business
- Zawya
Austrian trade delegation to visit Kuwait for economic talks in May
VIENNA: Kuwait's Ambassador to Austria Talal Al-Fassam announced that a high-level Austrian trade delegation will visit Kuwait May 5-7, to explore economic and commercial cooperation opportunities. In a statement to KUNA, Ambassador Al-Fassam said that the delegation includes representatives from 22 Austrian companies active in key sectors such as healthcare, investment, renewable energy, firefighting technologies, construction, oil and gas, and tourism. The visit is the result of coordinated efforts between Kuwait's Embassy in Vienna, the Austro-Arab Chamber of Commerce (AACC), the Austrian Economic Chambers, and the Kuwait Chamber of Commerce and Industry, aiming to broaden prospects of cooperation between the two countries. Al-Fassam stated that this visit is an important step toward expanding cooperation and attracting quality investments aligned with Kuwait Vision 2035, and stressed the visit's significance in advancing Kuwait-Austria economic ties. Kuwait and Austria share longstanding economic relations, including cooperation in investments, technology, equipment supply, and partnerships in the energy and environmental sectors. Austria is also an active European supporter of sustainable development projects, while Kuwait is working under its 2035 vision to diversify its economy and engage with new markets and international partners. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
