KUWAIT INVESTMENT AUTHORITY WANTS TO MAKE INVESTMENTS
Ulaanbaatar, Mongolia /MONTSAME/ Kuwait has a big aspiration to make investments to Mongolia, especially in the fields of infrastructure, mining and agriculture.
It was said by the Kuwait Investment Authority (KIA) director Mr. Bader Mohammed Al-Saad at a meeting with the Mongolian President on Wednesday.
Mr. Elbegdorj added that it is necessary to develop a partnership cooperation between Mongolia and the KIA, and expressed a willingness to cooperate with Kuwait when many biggest projects have been realized in frames of the middle-term strategic program of development.
“The KIA's main object is to earn income by well exploiting revenue from the oil reserve and making investments. Recent years, the KIA is augmenting investments to Asia, Africa and Latin America,” Mr. Bader said. Then he stressed that the KIA is ready to study an opportunity to boost a collaboration with Mongolia in the investment sector.
“The KIA's main criteria for countries are the activities that meet international standards and the authorities sustainable. We always try to create mutually-beneficial conditions for us and for foreign investors,” Mr. Bader said. The KIA has received requests from Mongolia on cooperating in some projects, and the KIA is focusing on one of them--introduction of a liquid oil processing technology, he added.
The same day, the President Ts.Elbegdorj shared views with Mr. Halid Abdulla Al-Sagar, a vice-chairman of the Kuwait Chamber of Commerce and Industry (KCCI) on supporting the private sector in order to improve the bilateral economic relations.
“We, the Kuwaiti investors and businessmen, are interested in making investments to Mongolia but we do not have enough information about it. I think it is necessary to increase the private sector's participation in the collaboration in mining, infrastructure, agriculture and new technological spheres,” Mr. Halid said.
Emphasizing an importance of the private sector partnership in boosting the bilateral economic ties, the President Ts.Elbegdorj put forward some proposals on activating this partnership.
The meeting resulted in agreement to organize mutual visits of chambers of commerce and industry, investment and business forums of the two countries. Moreover, a deputy director of the Development Bank of Mongolia (DBM) L.Bolormaa and Mr. Bader signed a memorandum of mutual understanding.
B.Khuder
It was said by the Kuwait Investment Authority (KIA) director Mr. Bader Mohammed Al-Saad at a meeting with the Mongolian President on Wednesday.
Mr. Elbegdorj added that it is necessary to develop a partnership cooperation between Mongolia and the KIA, and expressed a willingness to cooperate with Kuwait when many biggest projects have been realized in frames of the middle-term strategic program of development.
“The KIA's main object is to earn income by well exploiting revenue from the oil reserve and making investments. Recent years, the KIA is augmenting investments to Asia, Africa and Latin America,” Mr. Bader said. Then he stressed that the KIA is ready to study an opportunity to boost a collaboration with Mongolia in the investment sector.
“The KIA's main criteria for countries are the activities that meet international standards and the authorities sustainable. We always try to create mutually-beneficial conditions for us and for foreign investors,” Mr. Bader said. The KIA has received requests from Mongolia on cooperating in some projects, and the KIA is focusing on one of them--introduction of a liquid oil processing technology, he added.
The same day, the President Ts.Elbegdorj shared views with Mr. Halid Abdulla Al-Sagar, a vice-chairman of the Kuwait Chamber of Commerce and Industry (KCCI) on supporting the private sector in order to improve the bilateral economic relations.
“We, the Kuwaiti investors and businessmen, are interested in making investments to Mongolia but we do not have enough information about it. I think it is necessary to increase the private sector's participation in the collaboration in mining, infrastructure, agriculture and new technological spheres,” Mr. Halid said.
Emphasizing an importance of the private sector partnership in boosting the bilateral economic ties, the President Ts.Elbegdorj put forward some proposals on activating this partnership.
The meeting resulted in agreement to organize mutual visits of chambers of commerce and industry, investment and business forums of the two countries. Moreover, a deputy director of the Development Bank of Mongolia (DBM) L.Bolormaa and Mr. Bader signed a memorandum of mutual understanding.
B.Khuder
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