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Algerian President Welcomes Kuwaiti Investors
14.10.2011 by Ahmed Nawar
Algerian President, Abdelaziz Bouteflika, welcomed Kuwaiti investors, urging them to increase their investments in Algeria, Kuwait Projects Company (KIPCO) Vice Chairman Faisal Al-Ayyar said.
“President Bouteflika has welcomed Kuwaiti investments proposed by KIPCO Board Chairman, Sheikh Hamad Sabah Al-Ahmad Al-Sabah,” Al-Ayyar said Thursday in a press conference at Algeria International Airport, before the departure of the KIPCO delegation, after a three-day visit to the North African Arab nation.
Al-Ayyar added that the Algerian president applauded the deeply-rooted ties between the two countries and encouraged Kuwaiti investors to bolster their presence in Algerian market.
“The president urged Kuwaiti investors to pour more investments into Algeria’s different economic sectors,” Al-Ayyar said.
Al-Ayyar also revealed that the delegation reached an agreement with Algerian officials to inject huge investments in small and medium-sized projects and low-price housing.
“A technical team will be sent to Algeria in the coming three weeks to prepare a study on best way to invest in these sectors,” he said.