H.H. Sheikh Nasser Sabah Al-Ahmad Al-Sabah, the Deputy Prime Minister and Minister of Defense of Kuwait revealed that the project of the North Economic Zone, which Kuwait intends to implement, will absorb investments estimated at nearly 600 billion dollars provided that the laws governing this region attractive.
His highness explained that “the attractiveness of laws is achieved with the attractive tax rules and the removal of government bureaucracy" noting that “moving towards the north of the country to establish the silk project and other projects was due to the nature of the political & geographical relations which helps us while connecting with the distant worlds."
"There is a study to integrate the five islands with the Silk City in cooperation with China to make it an international zone, where the project is considered a new Hong Kong," he said.
Sheikh Nasser Al-Sabah stressed that "there are only two roads for the goods passing to the north through the Gulf Sea, it is either Kuwait or Iraq and we support the idea of turning Kuwait into a financial and commercial center."
The Bloomberg news agency revealed that Kuwait and China are planning to set up a $10 billion investment fund to invest in the two countries in the name of “the China-Kuwait Silk Road Fund”.
Source: (Al-Arabi Al-Jadeed newspaper, Edited)
