Latest news with #KuwaitChamberofCommerceandIndustry
Arab Times
29-04-2025
- Business
- Arab Times
KCCI hosts Belgian economic delegation
KUWAIT CITY, April 29: The Kuwait Chamber of Commerce and Industry (KCCI) hosted a Belgian economic delegation led by Isabelle Griba, CEO of the Brussels Economic Development Agency, on Tuesday. According to a press release issued by KCCI, the delegation included the Ambassador of the Kingdom of Belgium to Kuwait Christian Doms, Secretary- General of the Joint Arab- Belgian-Luxembourg Chamber of Commerce Qaisar Hijazin, representatives from the Kuwait Direct Investment Promotion Authority, and several Kuwaiti business owners. KCCI extended a warm welcome to the visiting delegation, and affirmed the strong and enduring ties between Kuwait and Belgium. It highlighted the longstanding friendship, mutual trust, and shared goals that define the relationship between the two nations. KCCI noted the great potential for economic cooperation between the two countries, revealing that the total trade exchange between Kuwait and Belgium amounted to approximately $253.5 million in 2023. Meanwhile, Ambassador Doms expressed his pleasure with the meeting, and highlighted that the significant participation of Belgian companies affirms the growing interest in enhancing relations between the two nations. He also highlighted the companies' eagerness to establish joint ventures with their Kuwaiti counterparts. Ambassador Doms affirmed Kuwait's strategic importance as one of the world's leading oil-exporting countries., as well as the prominence of the Kuwaiti sovereign wealth fund, which ranks as the fifth-largest globally. He outlined several factors for future collaboration between Kuwait and Belgium, including strong political ties, the purchasing power of Kuwaiti tourists, and the potential for joint efforts in sectors such as digital economy, food security, healthcare, renewable and sustainable energy, infrastructure, and free zone projects. In addition, Hijazin expressed his pleasure in hosting the meeting, emphasizing the presence of 40 prestigious Belgian companies. Hijazin called for greater collaboration between both nations to achieve shared goals, particularly highlighting Kuwait's importance as an important investment partner, especially in the realm of strategic oil and gas investment projects in Belgium. The Kuwait Investment Promotion Authority (KIPA) presented the New Kuwait 2035 vision, and shed light on the important projects and private sector partnerships currently underway. In turn, Belgian companies made a presentation on their services and products.
Arab Times
26-04-2025
- Business
- Arab Times
Kuwait gears up for Belgian investment blitz
BRUSSELS, April 26: Kuwait's Ambassador to the Kingdom of Belgium Nawaf Al-Enezi highlighted on Friday the importance of the upcoming visit of a Belgian trade delegation to the State of Kuwait, scheduled for 28- 30 April 2025. In statements to KUNA, Al-Enezi underlined its role in enhancing bilateral relations between the two countries and exploring cooperation opportunities in development projects aligned with Kuwait Vision 2035. Ambassador Al-Enezi noted that the visit of the Belgian delegation has been coordinated with various economic bodies across the main Belgian regions, the Arab Belgian- Luxembourg Chamber of Commerce, as well as the Kuwait Chamber of Commerce and Industry and the Kuwait Direct Investment Promotion Authority. He pointed out that the last visit by a Belgian trade delegation to Kuwait in 2019 was a significant milestone in advancing economic cooperation between the two friendly nations, during which both sides discussed partnership and investment opportunities. He added that the success of that visit is reflected in the increased number of companies participating in this year's delegation, which includes more than 40 companies operating in fields such as cybersecurity, renewable energy, sustainable development, healthcare services, and construction, along with the participation of businessmen and companies from the Grand Duchy of Luxembourg.
Arab Times
08-02-2025
- Business
- Arab Times
Portuguese business delegation to visit Kuwait this month
MADRID, Feb 8: Kuwaiti Ambassador to Portugal, Hamad Al-Hazeem, announced on Saturday that a delegation of Portuguese businessmen and company owners will visit Kuwait from February 18 to 21. The visit aims to enhance economic, investment, and trade relations between the two countries. Ambassador Al-Hazeem told KUNA that the Kuwaiti embassy in Lisbon, in collaboration with the Arab-Portuguese Chamber of Commerce, the Portuguese Industries Federation, and the Kuwait Chamber of Commerce and Industry, organized the visit. The initiative reflects both nations' mutual desire to boost their economic and trade connections. It also aligns with the embassy's ongoing efforts to create new communication channels and open broader avenues for cooperation, showcasing Kuwait's major development projects and its achievements across various sectors. The ambassador emphasized that this initiative is central to the mission of the Kuwaiti diplomatic mission and is fully supported by the Kuwaiti Ministry of Foreign Affairs, which views such efforts as pivotal in elevating bilateral relations with Portugal. In a similar statement to KUNA, Dr. Luis Felipe Menezes, President of the Arab-Portuguese Chamber of Commerce, explained that the visit would include business meetings with the Kuwait Chamber of Commerce and Industry, as well as interactions with local authorities and businessmen. Dr. Menezes described the initiative as a key step toward strengthening economic, trade, and cultural ties between the two nations. He expressed his gratitude for the support and continuous efforts of Ambassador Al-Hazeem in deepening cooperation. The Portuguese mission will comprise more than 12 companies from various sectors, including civil construction, cybersecurity, tourism, security services, and legal consultations. This year marks the 50th anniversary of diplomatic relations between Kuwait and Portugal. In 2023, Kuwait hosted the first round of Kuwaiti-Portuguese political consultations, aimed at strengthening cooperation and enhancing ties in various areas.
Arab Times
30-01-2025
- Business
- Arab Times
Kuwait and Saudi Arabia explore new business opportunities
KUWAIT CITY, Jan 30: The Kuwait Chamber of Commerce and Industry (KCCI) reaffirmed the business community's eagerness to explore joint investment opportunities and exchange expertise and knowledge with the Kingdom of Saudi Arabia. The KCCI also emphasized the importance of addressing and removing obstacles facing businesspeople in both countries, which would help foster prosperity for their joint economies. This statement was made following the reception of a delegation from the Eastern Chamber of Saudi Arabia, headed by Ibrahim bin Mohammed Al-Sheikh, Chairman of the Industry and Energy Committee. The meeting was attended by representatives from Kuwaiti factories and companies and aimed at opening new avenues for economic cooperation between the two nations. Al-Sheikh, in his speech at the meeting, highlighted the significant growth in economic and trade relations between the two countries. He noted that the trade exchange between Kuwait and Saudi Arabia reached nearly 11 billion riyals in 2022, up from around 8 billion riyals in 2015—an increase of 37.5 percent. This expansion has strengthened the economic ties between the two nations year by year. He also pointed to the rapid growth of direct investments and emphasized the mutual goal of maximizing the use of local content in energy sector projects. Furthermore, he discussed the shared desire to promote innovation and apply emerging technologies, such as artificial intelligence, in the energy sector, as well as the development of an incubator environment to support these initiatives. Al-Sheikh praised the ongoing efforts of the leadership in both countries to enhance their integrated relationship, citing the recent railway linkage agreement as a key example. This agreement is expected to boost trade exchanges, economic growth, and help implement the strategy of both nations to create a model of exceptional integration. It also aims to protect the gains and interests of both peoples and generate new opportunities for cooperation. He further emphasized the potential for a deeper and broader partnership between the business sectors of both countries. This partnership is supported by the close relations between Kuwait and Saudi Arabia and the shared determination to expand economic cooperation in line with the strategic visions of both nations: Saudi Arabia's Vision 2030 and Kuwait's Vision 2035. Al-Sheikh highlighted that the horizon for cooperation and partnerships between the two countries is limitless. Finally, he invited attendees to participate in the Saudi National Products and Industries Exhibition, which will be held at the exhibition grounds from January 29 to February 1.
