Kuwait deals to add to inward FDI flows

KUWAIT: Pakistan has signed seven agreements and three Memorandums of Understanding with Kuwait to attract huge investment in various sectors.

According to a press release issued by the PM Office’s Media Wing, the agreements were signed after talks between Caretaker Prime Minister Anwaar-ul-Haq Kakar and First Deputy Prime Minister and Minister for Interior of Kuwait, Sheikh Talal Al-Khaled Al-Ahmad Al Sabah in Kuwait City Wednesday.

The leaders also witnessed the signing of seven agreements concluded to attract multi-billion dollars investment from the State of Kuwait in various sectors of Pakistan including Food Security/ Agriculture, Hydel Power, Water Supplies (safe drinking water and supporting mining activities), establishment of Mining Fund to support mineral industry, Technology Zones Development and Mangrove Preservation.

FDI and SIFC

Three MoUs were signed in the fields of culture and art, environment and sustainable development.

The Prime Minister termed the agreements with Kuwait another milestone in the achievements which the Special Investment Facilitation Council platform is bringing for the country.

The two leaders expressed great satisfaction at the trajectory of relations, agreed to remain in close contact, and take swift steps in further strengthening and deepening of Pakistan-Kuwait relations.

Underlining the importance of historical brotherly ties between the two countries they reaffirmed the desire to strengthen the fraternal ties by transforming them into a mutually rewarding economic partnership.

The Prime Minister of Pakistan termed these agreements with Kuwait another milestone in the achievements which the Special Investment Facilitation Council (SIFC) platform is bringing for the country.

The Prime Minister also prayed for the good health of Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, The Emir of the State of Kuwait.

Chief of Army Staff General Syed Asim Munir was also present during the meeting.