Chairman of the Kuwait Chamber of Commerce and Industry (KCCI) Ali Thunayan Al-Ghanim on Saturday underlined Kuwait's commitment to support Egypt's economy and stability Egypt's stability is stability for Kuwait and its future is the future of Kuwait, Al-Ghanim told KUNA on the sidelines of the second day of the Egypt Economic Development Conference (EEDC) held in Sharm El-Sheikh.
His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah has repeatedly affirmed Kuwait's support to Egypt, he added, referring to His Highness the Amir's statement at the EEDC on Friday as "strong and candid." Pledging to invest USD 4 billion in Egypt proves how Kuwait is committed about supporting the Egyptian economy, which will of course have positive impact on bilateral economic ties, Al-Ghanim said.
A 16-member KCCI delegation is taking part in the EEDC, together with several other Kuwaiti businessmen.
They are studying many projects to carry out in Egypt, he said, revealing that "some are already pending signing contracts." Al-Ghanim lauded the efforts by the Egyptian government to abolish obstacles facing Kuwaiti investors in the country.
Meanwhile, a statement by the Egyptian cabinet quoted Al-Ghanim as saying that promising investment opportunities in Egypt attract Kuwaitis. This followed a meeting for Prime Minister Ibrahim Mehleb and Kuwaiti businessmen and investors in Sharm El-Sheikh today.