LOC21:33
18:33 GMT
KUWAIT, Oct 25 (KUNA) -- The Kuwaitis have invested nearly USD 726 million in commercial real estates in the United States in 2016, which is up by 45 percent from last year's, a US commercial official said Tuesday.
There are around 320 million consumers in the US, with estimated USD 18 trillion in the country's GDP, Jeff Hamilton, Senior Commercial Officer and Commercial Counselor at the US Embassy in Kuwait, said.
The US official made his remarks at the opening ceremony of a workshop, entitled "expand your commercial activity in the United States," which is organized by the US Embassy as part of its "Discover America Week 2016," held between October 23rd and November 2nd.
America is the number one in the world in terms of investments volume, which is up to USD three trillion, he said, adding that Kuwait Investment Authority (KIA) has up to USD 304 billion in total investments, with a number of large investments in the US by major Kuwaiti companies.
The embassy has specific functions in Kuwait, including marketing US-imported services and goods, assisting US companies in determining and nominating their partners in Kuwait, helping Kuwaiti companies in finding US suppliers, and helping Kuwaitis wishing to invest in America. (end)
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