Under the kind patronage of his Highness the Prime Minister Sheikh Jaber Al -Mubarak and with the attendance of The Minister of Trade and Industry his Excellency Mr. Anas Al Saleh
The Direct Aid has recently organized the ” Investment in Africa Forum” with was coincided with the third Arab African Summit which was held in Kuwait under the theme of “Partners in Development and Investment,”.
The Minister of Trade and Industry Anas Al-Saleh said that the “Investment In Africa Forum” was an interpretation of the “Partners in Development and Investment” theme of the Third Africa-Arab Summit. The minister was speaking on behalf of His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah at the opening of the forum.
Al-Saleh pointed out the significance of integration of the roles of governments and private sector in the achievement of development.
In spite of the difficulties Africa faced throughout the last five years, the continent embraces promising opportunities for the growing number of investors, the minister said.
Al-Saleh pointed out the significance of integration of the roles of governments and private sector in the achievement of development, a matter that is of concern to the African and Arab leaders and a key topic of the summit’s agenda.
He called for investment in the African infrastructure as a leading sector of comprehensive economic development in the continent. Studies show that 800 infrastructure projects are currently underway on the African ground at a total cost of USD 700 billion, Al -Saleh said.
However, he said that the Kuwaiti part of development in Africa , through the Kuwaiti Development Fund , was estimated at USD 6.4 billion “a practical interpretation of the long-lived commitment with Africa”.
The Minister also mentioned that the increasing number of investors from all over the world who try to participate in the different business sectors in Africa verify our desire ,along with the other Arab countries ,to have a long lasting partnership with the private and public sectors in the African countries.
Dr. Abdul-Rahman Saleh Al-Muhailan , Chairman of the board of directors of the Direct Aid, has indicated the history of partnership between Kuwait and the African continent as he said ” the merchants have reached the most far ports in Africa and that Africa was a partner in the development of Kuwait”.
He also added that Dr. Abdul-Rahman Al Summait , May Allah have mercy upon him , the founder of the Direct Aid has left an apparent finger prints since the establishment of the Direct Aid and that a lot of countries have benefited and still benefiting , from such contributions in Africa. He also added that the vision of the Direct Aid has changed as it put a strategy to invest in the human beings to ensure continuity of life.
Al-Muhailan has stressed on the importance of not neglecting Kuwait’s experiences in Africa including the investment experiences of the Direct Aid and he said” We are putting all our experiences in Africa at the disposal of all the entities either those entities are companies or the Donor organizations or any other organizations ” shedding the light to the fact that there are five required investment areas in Africa which are : water, education , health, power and agriculture”.
Faisal Al Zamil , head of the preparatory committee of the summit and the board member of the Direct Aid said” The forum is considered as an opportunity for the investors and the investment companies to meet with officials responsible of investment and with the donor organizations in Kuwait to exchange opinions and choose the best investment opportunities in the development sector in Africa”.
Al Zamil , addressing the attendees at the opening of the forum, said” The investors’ tendency to invest in Africa will form a strategic step that has a lot of hopes , aspirations and benefits with regard to securing the foreign direct investments through expanding the productions operations along with securing a lot of work opportunities in addition to improving the standard of living for the individuals and the African communities in general”.
Al Zamil has stated that the Direct Aid was established since thirty years with the goal of providing whatever useful and new for the development of Africa as the latter , based in the economical indexes , has all the attractive factors as a developing economical power that will form a new factor in the development of the international economy in the coming years due to its distinct location , the cheap laborers and the easy facilities.
Al Zamil has also stated that the Direct Aid has provided 4 successful experiences in investment in Africa represented in the investment in power, education, health and agriculture.
It is worth mentioning that the forum has been held coincide with the third Arab African Summit recently held in Kuwait. A lot of the active economical entities participated in the forum including the Islamic Development Bank represented in the Arab Investment and Export Credit Guarantee Corporation , the Independent Petroleum Group in addition to a number of companies that explained their successful experiences in Africa.
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