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Ministry calls for Kuwaiti investments in textile sector
11
Aug '08
Mr Fuad Al-Jouni, Syrian Minister of Industry recently invited Kuwaiti entrepreneurs to invest in diverse fields including textiles. He elaborated on the purpose asserting that the central authorities were keen on encouraging investments in the domestic market flowing in from Gulf states in general and Kuwait in particular.

A special emphasis was laid on increasing investments in spheres of textiles and chemical products among others. Discussions were held between Kuwaiti Investment Company, Noor, and local officials, about the feasibility of the projected prospects.

Presently, a subsidiary of Noor Financial Investment Company is engaged in setting up an oil refinery in the Deir Al-Zoar area, in the eastern part of the country with a projected capacity of 140 million barrels a day and at a cost of $3.5 billion.

Overall Kuwaiti investments in Syria are estimated at US $6 billion, reflecting towards a healthy economic relation between the two Arab countries. Industry minister also noted that a number of promotion conferences had been hosted by the department with a view to enhance industrial investments.

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