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Kuwait among top contributors to Algerian economy - official

(With photos) ALGIERS, June 17 (KUNA) -- The state of Kuwait is among top contributors to Algeria's economic, tourism, and real estate scenes, stated Kuwait's Embassy Charge D'affairs to Algiers Ahmad Al-Jeeran on Sunday.
Talking to Algerian "Business" weekly economic magazine, the official revealed that Kuwait has offered Algeria four loans, estimated at USD 250 million, to finance oil and housing projects, indicating that the last housing project has cost USD 13 million.
"Our country also invests in other domains," Al-Jeeran asserted, adding that Kuwait's "Wataniya Telecom" has invested in several telecommunication projects here in addition to establishing the Kuwaiti-Algerian Investment Fund.
"Business friendly laws which always Arab and Foreign investors many economic privileges is also a key factor in attracting investments and capitals," Al-Jeeran described the fluency of operating in Algeria.
On chances of investments in Kuwait, the diplomat called on Arab businessmen, especially Algerians, to invest in Kuwait, citing the Gulf country's progressive economy.
Regarding Algerian working in his country, Al-Jeeran indicated that the numbers were low due to the geographic distance between both states, affirming that the chances of bilateral investments were still on.
He praised the role of Kuwaiti businesswomen in building the economy, saying that their Algerian counterparts were welcomed to share their experience with them. (end) ft.gta KUNA 172029 Jun 07NNNN