KCCI: US is Kuwait's leading destination for public, private investments

KUWAIT, Nov 9 (KUNA) -- The Kuwait Chamber of Commerce and Industry (KCCI) affirmed that the United States remains the most significant and top destination for Kuwait's public and private investments.
KCCI notes that for more than three decades the US has consistently ranked among Kuwait's three largest trading partners, with bilateral trade reaching USD 3.4 billion in 2023.
The statement came as KCCI hosted a US commercial and economic delegation on Sunday, comprising several energy-sector companies and led by Commercial Counselor at the US Embassy in Kuwait, Darryl Cheng. The meeting was attended by representatives of government entities, Kuwaiti companies, and interested business owners.
KCCI said the visit contributes to strengthening bilateral economic ties between the two countries, adding that such direct discussions between counterparts help build effective channels for deeper cooperation, especially given Kuwait's investment presence in the US that dates back more than six decades.
The Chamber noted that Kuwait's long-standing investment experience in the US has established strong and wide-ranging bridges of trust, supporting mutual strategic cooperation.
It emphasized that the US continues to be the primary destination for Kuwaiti overseas investments, highlighting the energy sector as a major opportunity to further enhance economic collaboration.
On his part, Cheng said in remarks during the meeting that the gathering represents an opportunity to expand cooperation between the two countries. He affirmed US companies' interest in forming bilateral partnerships with their Kuwaiti counterparts, particularly in the sectors of infrastructure, machinery, manufacturing, energy, oil and gas, among others.
Representatives from the Kuwait Direct Investment Promotion Authority (KDIPA), the Public-Private Partnership Authority (PPPA), the Ministry of Electricity, Water and Renewable Energy, and the Kuwait Institute for Scientific Research (KISR) delivered presentations outlining key ongoing projects and available investment opportunities under the "New Kuwait 2035" vision. (end) fnk.dss