Mubasher: Kuwait is reportedly planning to form $10 billion (KWD 3.04 billion) with China for investments in both counties.
The projected Kuwait-China Silk Road Fund (KCSRF) will invest in Kuwait’s Silk City and islands development projects.
Kuwait and China will contribute $5 billion each to the fund, people familiar with the matter told Bloomberg.
Kuwait is planning to cooperate with Chinese partners on projects that could increase KCSRF’s investment capacity to $30 billion.
“Silk City and development of the islands is the signature project in the development plan for New Kuwait 2035,” Bloomberg reported, citing secretary general of Kuwait’s Supreme Council for Planning and Development, Khaled Mahdi.
Under its 2035 Vision, Kuwait is aiming at diversifying its economy and becoming a regional business hub.
