ALGIERS, March 1 (KUNA) -- Board of Directors of Kuwait's KIPCO Asset
Management (KAMCO) Sheikh Abdullah Nasser Al-Sabah expressed, on Thursday,
wishes to promote Kuwaiti investments in Algeria.
Sheikh Nasser told KUNA, on the fringes of a dinner banquet held by the
Kuwaiti ambassador to Algeria Faisal Al-Diwaish, that Kuwaiti investments in
Algeria are taking a giant leap of quality in banking, insurance, power and
During meetings with a number of Algerian officials, there was a clear
keeness from the Algerian government to welcome any Kuwaiti investments, in
particular, or even any investments for the Gulf Cooperation Council (GCC)
countries, the Kuwaiti official noted.
The Algerian government has done a tremendous job in facilitating and
providing investment opportunities in it promising market, he pointed out.
Sheikh Nasser revealed that there have been discussions over a preliminary
agreement to set up a pharmaceutical factory for anti-cancer drugs,
electricity generators and other agricultural projects in Algeria.
He clarified that Kuwaiti investments already exist in Algeria which can be
clearly seen in the "successful" Gulf Bank Algeria that has more than 30
branches in some parts of the country.
KAMCO's chief said that his visit aims at following up on projects that
have been set up by the Kuwait Projects Company (KIPCO) in the northwest
KAMCO was established in 1998 and has been listed on the Kuwait Stock
Exchange since 2003 and is a member of the Kuwait Projects Company (Holding)
KAMCO has established strong partnerships and affiliations with
international financial institutions and experts which help to position it at
the forefront of investment solutions in the region. (end)
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