Latest news with #KuwaitiBusiness
Zawya
14-05-2025
- Business
- Zawya
Significant increase in Kuwait exports to the Maldives
KUWAIT CITY - Kuwait Chamber of Commerce and Industry (KCCI) received a delegation from the Republic of Maldives, led by the Minister of Foreign Affairs Dr. Abdulla Khalil on Tuesday, May 13 in the presence of several Kuwaiti business owners. According to a press release issued by KCCI, the meeting began with KCCI expressing its appreciation for the delegation's visit, as it underscores the growing ties between Kuwait and the Maldives, founded on friendship, mutual respect, and shared aspirations for economic and cultural cooperation. It explained that the trade relations between the two countries have significantly strengthened over the past decade, with a notable increase in Kuwaiti exports to the Maldives. The partnership between the two countries is further strengthened by their distinct strengths, particularly the excellence of Maldivian companies in the tourism and maritime industries, which attract the interest of Kuwaiti investors. At the same time, Kuwaiti companies excel in sectors such as finance, logistics, healthcare, and energy, providing a solid foundation for productive cooperation and investment. Meanwhile, Maldives Foreign Minister Dr. Abdulla Khalil outlined the most prominent investment opportunities available in his country, mainly in sectors such as tourism, investment, alternative energy, logistics, ports, housing cities, agriculture, and fisheries. Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. ( arabtimes
Zawya
13-05-2025
- Business
- Zawya
Al-Salem: Kuwaiti Business Council supports 1,800 Kuwaiti companies in UAE
KUWAIT: President of the Kuwaiti Business Council in Dubai and Northern Emirates Feras Al-Salem said that the council supported more than 1,800 Kuwaiti companies registered in the UAE. The Kuwaiti Business Council advocates boosting presence of the Kuwaiti companies and business people in the UAE through facilities and guidance, said Al-Salem in an interview with Kuwait News Agency (KUNA). He has affirmed that the council tackles hindrances and challenges facing the Kuwaiti entrepreneurs, coordinates with the Chamber of Industry and Commerce in Dubai, the UAE Ministry of Economy and other government departments. Elaborating, Al-Salem has revealed that value of the Kuwaiti businesses in the UAE amounts to USD 55 billion; mostly in real-estate, financial markets and other sectors. The UAE hosts more than 44,000 Kuwaiti investors in the financial markets and 22,000 in the realty sector, Al-Salem told KUNA. Moreover, there are non-estimated Kuwaiti stakes in the UAE commercial companies. On incentives luring the Kuwaiti entrepreneurs, he mentioned "a good legislative environment," early government response to emerging economic challenges and a diverse local economy. There are 750 Kuwaiti companies registered in the Dubai Chamber, 250 at the Investment Administration in Sharjah and others in the free trade zones, in addition to a number of firms operating in Ajman, Ras Al-Khaimah and Abu Dhabi. The UAE is the number one trade partner and the second one at the global level to the State of Kuwait, with the trade exchanges estimated at USD 13.5 billion, Al-Salem said, predicting sustainable growth of the commercial exchanges between Kuwait and the UAE. Furthermore, the chairperson of the Kuwaiti Business Council has indicated that Kuwait-UAE agreements partly support the council, aim at averting double taxation and ensure that custom tariffs on the two countries traded products remain stable. The Kuwaiti companies, he has added, operate in ground services at airports, the retail sector, hospitals, hotels, property, realty development, finance markets, financial brokerage and services. Shedding further light on the Kuwaiti interests in the UAE, Al-Salem has affirmed that there are four branches of Kuwaiti banks in the country, forecasting that number of these branches would increase. The council has signed memos with relevant UAE authorities to facilitate opening accounts for the Kuwaiti citizens, students and emerging companies that have been expanding in the UAE. He lauded the open skies treaty, signed between Kuwait and the UAE in 2015, and double listing in the Dubai, Abu Dhabi and Kuwait finance markets. The council, established by Kuwaiti companies and leading businesspersons in May 2015, is a non-profit organization affiliated to the Dubai Chamber of Industry and Commerce. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
