Kuwait and Saudi Arabia Discuss Enhancing Investment and Infrastructure Cooperation

The Ministry of Finance participated on Wednesday in the third meeting of the Coordination Committee on Investment, Environment, and Infrastructure, which is a subsidiary body of the Kuwaiti-Saudi Coordination Council, via video conferencing. In a press statement, the ministry said that the meeting reviewed updates on joint initiatives and monitored their implementation, alongside exploring ways to enhance cooperation in investment, environment, and infrastructure, and to develop joint projects that serve the strategic interests of the two brotherly countries. It noted that efforts made in the recent period to exchange investment opportunities between the two countries, provide the necessary environment and support for investors, and exchange visions and work programs for several flagship projects aimed at achieving food security in both countries were also reviewed. The statement quoted Assistant Minister of Finance Asil Al-Munifi as saying that the Kingdom of Saudi Arabia’s stance alongside the State of Kuwait during recent developments in the region, and its mobilization of resources to ensure the flow of goods, is appreciated and commended by the government and people of Kuwait. Al-Munifi emphasized the importance of bilateral coordination and joint action among various entities in both countries, as well as continuous bilateral communication to keep pace with challenges, particularly in the commercial and economic fields. At the conclusion of the meeting, the meeting minutes were signed, which included a number of initiatives and work plans for the coming period in several areas, most notably finance, investment, development, railways, and other priority sectors for both countries. The Kuwaiti side was chaired by Assistant Minister of Finance Asil Al-Munifi, while the Saudi side was chaired by Assistant Minister of Investment for International Investment Relations Abdulmajeed Al-Badrani, with participation from representatives of various relevant government entities and agencies in both countries.