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Role of private sector crucial in Kuwaiti-Iranian economic ties - Min.
January 9, 2015, 8:05 am

Emphasis on the role of the private sector in pushing along bilateral economic relations between Iran and Kuwait cannot be overstated, said Iranian Minister of Economic Affairs and Finance Dr. Ali Tayebnia on Thursday.

In a speech at a meeting he had with representatives of the Kuwaiti private sector hosted by the Kuwait Chamber of Commerce and Industry, the minister offered a rosy picture of his country as a potential magnet for Kuwaiti investors.

To spur investors to come to Iran, the country eliminates tariffs, offers low energy prices, political stability, and existing laws protecting investors and encouraging investments, he said.
Expanding on his country's advantages for investors, he said Iran has a huge landmass, good railway networks for industrial transportation, up to 58 airports, 11 seaports for export purposes, and a strategic location for transit activities.

He touted the fact that Iran has a law on the books encouraging foreign direct investment to the point that a foreign investor enjoys all benefits of his investment in the same way a native Iranian investor does.
He invited Kuwaiti investors to visit Iran and take advantage of investment opportunities there.

In a similar speech, Vice President of the Kuwait Chamber of Commerce and Industry Abdulwahab Al-Wazzan acknowledged that Kuwaiti-Iranian economic ties required much more boosting at this time, noting that Kuwaiti investors could benefit from such sectors in Iran as agricultural and real estate and could benefit also from Iran's expertise in the peaceful use of nuclear energy.

On his part, President of Bu-Khamseen Group Holding Co., Jawad Bu-Khamseen indicated in the meeting today that Iran should streamline its tourism industry especially the religious type to attract more tourists to Iran to visit holy shrines there. He emphasized the Kuwaiti private sector's great interest in expanding its economic and investment activities in Iran.

The Iranian minister began an official visit to Kuwait at the head of an economic delegation, lasting three days to discuss economic and trade issues with Kuwaiti officials.

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