Kuwait Business Council signs deal with UAE ministry

DUBAI: Kuwait Business Council in Dubai announced on Sunday inking an agreement with the UAE Ministry of Economy to be a main and strategic partner in the Annual Investment Forum. The council said in a statement partnership with the ministry was in line with the approach to boost Kuwaiti business presence in the UAE, attain economic integration and strategic cooperation between Kuwait and Abu Dhabi. The council will organize a competition for emerging Kuwaiti enterprises for representing Kuwait at the forum, which groups more than 80 countries. It is also a platform for promoting Kuwaiti small and medium enterprises and shedding light on potentials of the Kuwaiti private sector and motivating young Kuwaitis to make more achievements at the regional and international levels. The statement quoted head of the forum steering committee, Daoud Al-Shizawi, as saying that the Kuwaiti council participation in the next edition of the forum would be an added value to the annual event. Meanwhile, the council chairperson Badr Al-Saqaabi expressed gratitude to the UAE ministry for the confidence accorded to the council. Feras Al-Salem, the deputy chairman, said winner of the competition will be given a pavilion at the event venue for three days to promote the venture, in addition to a $50,000 reward. Moreover, the winner will be relieved of costs of travel and residence. Current edition of the forum was scheduled last March but it was delayed indefinitely due to the coronavirus outbreak. — KUNA