Kuwait to host 15th Industrialists’ Conference

The 15th Industrialists’ Conference on "FDI in GCC and its impact on industry" will be held in Kuwait for two days from Nov. 25, with the support of Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, emir of Kuwait, and the participation of GCC ministers of industry.
This was announced at a press conference held by the Gulf Organization for Industrial Consulting (GOIC), Kuwait’s Ministry of Commerce and Industry and the Public Authority for Industry (PAI) in Kuwait on Tuesday (Oct. 13).
The speakers were Mohammed Fahad Al-Ajmi, acting director-general of the Public Authority for Industry (PAI) and member of GOIC’s board in Kuwait and Abdulaziz bin Hamad Al-Ageel, secretary general of GOIC.
Al-Ajmi said: “GCC countries achieved huge financial surpluses as a result of the increase of the prices of oil and gas, the two main income sources for the GCC countries’ GDPs. The countries’ balances of payments had surpluses exceeding the volumes of cash reserves and foreign investments."
He added: "Foreign investments are necessary, not only for their financial capital, but also because they bring in advanced technologies, research and development, knowledge industries, promotion, organization and innovative administration in various production and services fields. The ultimate objective is to back Gulf industries through state-of-the-art technologies to become reasonably competitive and strengthen global networking in value and demand chains.”
The event will feature 28 speakers.
GOIC is preparing for the event in cooperation and coordination with organizing entities in Kuwait, notably the Ministry of Commerce and Industry and the Public Authority for Industry (PAI).
GOIC is also cooperating with the Kuwait Direct Investment Promotion Authority (KDIPA), Kuwait Chamber of Commerce and Industry and the Industrial Bank of Kuwait, and coordinating with the Secretariat General of the Cooperating Council for the Arab States of the Gulf and the Federation of GCC Chambers (FGCCC).