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  Economics
KAMCO''s chief urges for more Kuwaiti investments in Algeria
01/03/2012 | LOC12:40
09:40 GMT
| Arab News
تصغير الخطالشكل الأساسيتكبير الخط
Board of Directors of Kuwait's KIPCO Asset Management (KAMCO) Sheikh Abdullah Nasser Al-Sabah with The Algerian Presedant Abdulaziz Bu-Tafliqa
Board of Directors of Kuwait's KIPCO Asset Management (KAMCO) Sheikh Abdullah Nasser Al-Sabah with The Algerian Presedant Abdulaziz Bu-Tafliqa
(with photos) 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 pharmaceutical sectors.
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 African country.
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) Group (KIPCO).
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) ft.nfm KUNA 011240 Mar 12NNNN
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Board of Directors of Kuwait's KIPCO Asset Management (KAMCO) Sheikh Abdullah Nasser Al-Sabah with the Kuwaiti ambassador to Algeria Faisal Al-Diwaish
Board of Directors of Kuwait's KIPCO Asset Management (KAMCO) Sheikh Abdullah Nasser Al-Sabah with the Kuwaiti ambassador to Algeria Faisal Al-Diwaish
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