seeking to expand their business abroad can look towards opportunities in
Kuwait, said Singapore Minister of State for Trade and Industry, Teo Ser Luck.
He said opportunities in development projects such as the construction of
public infrastructure are growing, as Kuwait liberalises its market to allow for
more private sector collaboration.
In 2010, the Kuwaiti government unveiled a U$125 billion economic
development plan to liberalise the country''s economy.
The plan included privatising public firms and the construction of
mega-projects through public private partnerships.
"Kuwait is entering an exciting new phase where there will be greater
participation by the private sector.
"Singaporean companies should explore these new, untapped opportunities and
consider moving into the nascent market," he said in a statement released by the
Ministry of Trade and Industry (MTI).
Teo was in Kuwait from March 11-13 to attend the 13th International
Energy Forum (IEF), where he joined energy ministers from around the world to
discuss strategies to strengthen the security of the global energy supply chain.
This is the first time that Singapore had attended the forum.
Kuwait was Singapore’s 4th largest trading partner in the Gulf Cooperation
Council (GCC) in 2011.
Growth in bilateral trade exceeded 20 per cent year-on-year to reach
S$4.7 billion in 2011.
Kuwait had more than US$115 billion worth of projects in the pipeline as of
early 2012, making it one of the most promising project markets in the region.
-- BERNAMA
TNS TNS AS
No comments:
Post a Comment