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QATAR LARGEST FOREIGN DIRECT INVESTOR IN KUWAIT

KUWAIT, June 18 — Qatar ranks first among nations with foreign direct investment (FDI) in Kuwait, with total investments in 2012 topping KD 1.9 billion, concluded a survey by the Kuwait Central Statistical Bureau, the latter divulging this information on Tuesday at a press conference here.

Total FDI in Kuwait till end of 2012 came to almost three billion Kuwaiti dinars said the survey, according to the Bureau director Maryam Al-Aqeel who was at the press conference.

She said the survey on foreign investment in Kuwait enables the government to find out impediments to more expansive FDI in the country and helps it in charting out future labor policies.

She further said that there will be a meeting for a number of the country’s distinguished economic organizations where results of the survey on FDI and impediments that hamper it locally will be thoroughly thrashed.

Kuwait university professor Nayef Al-Shemmeri told KUNA on the sidelines of the press conference that FDI in 2012 in Kuwait was divided among a number of sectors, the biggest of which was the telecom sector with KD 1.8 billion, followed by the investment sector with over KD 597 million, and such sectors as the banking, insurance, and money funds.

Bahrain was the second, after Qatar, in DFI rankings in Kuwait, followed by the UAE, Saudi Arabia, and Lebanon, he said.

SOURCE: KUNA