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    Kuwait - Algeria business ties

    KUWAIT, May 31 (KUNA) -- Kuwait and Algeria signed Wednesday an accord to avoid double taxation and encourage investments.

    Speaking to KUNA, the Algerian Finance Minister Mourad Medelci said that the accord would boost Algerian-Kuwaiti ties in various economic fields, adding that this would increase joint investments in both countries.

    As for the investment opportunities in Algeria, he said they include agriculture, industry, tourism, energy and commerce projects.

    The accord was signed on the sidelines of the 31 annual meeting of the Islamic Development Bank (IDB), which kicked-off here on Tuesday.

    >>>Source<<<

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    Kuwaiti businessmen meet Algerian top officials

    ALGIERS, Nov 17 (KUNA) -- Kuwait Investments Projects Company (Kipco) chief Faisal al-Ayyar was Friday received by Algerian president Abdulaziz Bouteflika and tourism minister Nouruddin Moussa.

    Al-Ayyar, Kipco's managing director and CEO, told KUNA that they were received in a hospitable atmosphere and he benefited from the meetings, which dealt with ways of further cementing cooperation in fields of tourism and hotels.

    Kipco's CEO North Africa, Emad Al-Saleh said the tour carried out by Kipco delegation to North African countries would have great investment gains for the company.

    Al-Saleh, speaking to KUNA, said the tour which took them to Libya and Tunisia has created investment opportunities in these countries.

    Algeria is a rich investment environment, he added, so as in the other countries they have visited.

    Kuwaiti businessmen meet Algerian top officials

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    Kuwaiti investments in Algeria welcomed - ambassador

    ALGIER, Nov 28 (KUNA) -- Kuwaiti businessmen are urged to explore investment opportunities in Algeria which, in a period of three years, became the Mecca for Arab investments, Kuwait's ambassador to Algiers Shamlan Al-Roumi told al-Mustathmir al-Arabi (the Arab Investor) monthly magazine Tuesday.

    "Algeria has natural and economic potentials that would persuade Kuwaiti investors to engage in asset projects," Al-Roumi told the magazine in an interview published today.

    He added that current Kuwaiti investments achieved positive results in Algeria such as Mobile Telecommunications Company (MTC) which invested one USD billion after winning the third license for mobile phones in addition to the partnership experience of Safir Hotel Mazafran in Zeralda, Algeria, which was run by Kuwaiti investors.

    Al-Roumi pointed to the role of the embassy in tapering points of view and supporting bilateral relations between Kuwait and Algeria by easing businessmen's paperwork and outlining them with the Algerian economic status.

    On Algeria's economic state of affairs, Al-Roumi said that counter-terrorism policies had a positive effect on the economy and the government made regulations to encourage investments. He added that Algeria backboned its budget with a reserve that exceeded USD 60 billion in addition to the rising percentage of growth average on a yearly basis.

    Kuwaiti investments in Algeria welcomed - ambassador

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    Kuwait Finance House seeks investment in Algeria

    MANAMA, Dec 25 (KUNA) -- An Algerian economic delegation here Monday discussed with the Kuwait Finance House (KFH) branch in Bahrain investment opportunities in Algeria, involving diverse economic sectors.

    The Algerian team, headed by Deputy Chairman of Algeria's Chamber of Commerce and Industry Balkhir Jobef, met with KFH-Bahrain General Manager Abdulhakim Al-Khaiat, and Bahraini Al Salam Bank CEO Yussef Taqi, KFH-Bahrain said in a news release here.

    They considered investment in banks, financial services, tourism, communications, seaports and real estate projects, the news release said, noting that KFH has already set up industrial, petrochemical and real estate projects in Bahrain.

    Both KFH and Al Salam Bank are expected to dispatch a team to Algeria early next year to look into investment opportunities there, focusing on investments that could contribute to economic growth in Algeria, Al-Khaiat said.

    Meanwhile, the Al Salam Bank CEO voiced his bank's willingness to invest in Algeria, especially as it has already obtained permission to open an office there.

    KFH seeks investment in Algeria

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    Kuwaiti Chamber of Commerce and Industry delegation visits Algiers

    KUWAIT, May 5 (KUNA) -- A Kuwaiti economic delegation from the Chamber of Commerce and Industry will visit Morocco and Algiers on May 6 to discuss means of boosting economic cooperation, announced the chamber on Saturday.

    The chamber said in a press statement that President of the Chamber of Commerce and Industry Ali Thunayyan Al-Ghanim would lead the delegation in the six-day visit. The statement added that the Kuwaiti delegation would hold talks with a number of senior officials and private sector representatives.

    The delegation will discuss investment opportunities as well as the laws and legislations to bolster investment cooperation, it said.

    The visiting delegation will include a number of the chamber's board members as well as leading representatives of companies in Kuwait.


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    ALGIERS, May 7 (KUNA) -- Algerian Minister of Housing and Urban Affairs Mohammad Al-Natheer Humaimeed met here on Monday with the visiting Kuwaiti delegation representing the Chamber of Commerce and Industry headed by its President Ali Thunayyan Al-Ghanim.

    Humaimeed told KUNA the visit aimed at becoming acquainted with Algeria's experience in the investment sphere.

    He said that his country was keen on bolstering bilateral cooperation with Kuwait in various domains particularly in the investment sphere.

    He hailed the tremendous aid offered by the state of Kuwait to his country represented in the construction of developmental projects in addition to its assistance in the reconstruction of areas that had been devastated by an earlier earthquake.

    Al-Ghanim on his part hailed Algeria's market describing it as "promising." He said the Kuwait delegation would be expected to hold talks with senior Algerian officials topped by Ministers of Finance, Health and Tourism in addition to a number of Algerian businessmen.


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    ALGIERS, May 7 (KUNA) -- Algerian President Abdelaziz Bouteflika on Monday received chairman of Kuwait's Chamber of Commerce and Industry Ali Al Ghanim, who is currently on a visit to Algeria.

    During the meeting, Al Ghanim expressed hope that the Algerian president would patronize the launch of Kuwait's giant investment project in Algeria.

    He said that talks with the Algerian president have focussed on Kuwaiti investments in Algeria and cooperation between businessmen of both sides.

    Ghanim said he was greatful for the Algerian hospitality, noting that the two countries' enjoyed deep-rooted ties.


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