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ARAB TIMES, WEDNESDAY, NOVEMBER 4, 2015
9LOCAL/GULF
Kuwaiti and Korean ‘business’chiefs mull long term partnership
Vital role of private sector to promote bilateral ties: Al-Bedaiwi
SEOUL, Nov 3,(KUNA): Kuwaiti andSouth Korean businessleaders met in Seoul onTuesday to discuss pro-moting bilateral tradeand direct investment.
The 2nd Kuwaiti-KoreanBusiness Forum was held inthe World Trade Center Seoul(WTC Seoul), and attendedby representatives of the rele-vant government bodies inboth countries.
The Kuwaiti delegation to theforum was led by DeputyChairman of the Kuwait Chamberof Commerce and Industry(KCCI) Abdulwahab Al-Wazzan.
It included Deputy Chairmanof the Public Authority for Roadsand Land Transport Saoud Al-Naqi, Director of Kuwait MetroProject Eng. Manal Al-Duwaisan,head of investor services at theKuwait Direct InvestmentPromotion Authority (KDIPA)Mohammad Al-Sabbagh.
Others included KuwaitIndustries Union (KIU) BoardChairman Hussein Al-Kharafi,KCCI assistant head for publicrelations and Kuwaiti diplomatsin South Korea, beisdes a host ofbusinessmen from both sides.
The Korean side included offi-cials of the Korea InternationalTrade Association and represen-tatives of 50 firms, led byHyundai Heavy IndustriesChairman Kil Seon Choi andPresident and CEO of DaelimIndustrial Chul Kyoon Lee.
During the forum, the Kuwaitidelegation reviewed infrastructureprojects comprised in the Kuwait2035 vision, as well as the facili-ties and privileges offered throughthe new investment law, 116/2013,and by the Public PrivatePartnership Projects Authority.
Al-Sabbagh briefed the meet-ing on the large facilities the lawpresents to foreign investors. Aninvestment licence is issued in 30days once an application is sub-mitted, he said.
For his part, Al-Kharafi said thatthe event aims in the first place tobuild a long-term partnership.
Talking to KUNA, Kuwait’sAmbassador to South KoreaJassim Al-Bedaiwi, referred tothe 2nd business forum as a suc-cess, in terms of participants andthe key topics tackled.
Al-Bedaiwi pointed to thevital role of the private sector topromote bilateral ties.
This 2nd forum is a naturalflow of the first one held duringthe official visit to Kuwait byPresident Park Geun-hye lastMarch, Ambassador of theRepublic of Korea to KuwaitShin Boonam said.
He added that Kuwait’s five-year term plan offers attractiveinvestment opportunities to Koreanfirms that have already obtaineddeals worth $16 billion till 2016.Further deals worth about $30 bil-lion are expected in for 2017.
KCCI’s Al-Wazzan said thatthe business leaders and govern-ment officials visit to SouthKorea was impressive.
Meetings with Korean coun-terparts showed high interest ininvesting in Kuwait’s grand proj-ects, he told KUNA.
Bilateral trade hit $19 billionin 2014, $16 billion of whichwent for Korea’s imports ofKuwaiti oil. This has placedKorea atop the list of worldimporters of Kuwaiti crude.
US First Lady Michelle Obama (right), arrives at the Hamad Airport in the Qatari capi-tal Doha on Nov 2. Michelle Obama arrived in Qatar on the opening stage of her firstsolo Middle East tour, where she is expected to call for addressing ‘cultural beliefs’
obstructing girl’s education. (AFP)
KUNA photo
HH the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah receiving SheikhNasser Al-Muhmmad Al-Ahmad Al-Sabah.
Arab delegates prepare for Riyadh summitCAIRO, Nov 3, (KUNA): Permanent del-egates at the Arab League held at the ArabLeague in Cairo a consultative meeting todiscuss preparations and arrangements forthe fourth Arab-South America summitdue in Riyadh on Nov 10-11.
In a keynote speech, the head of themeeting and Saudi delegate at the leagueAhmad Qattan hoped that the Arab-SouthAmerica summit would contribute to fur-ther promoting relations between Arabcountries and South America in political,
economic and social fields. On his part, thehead of the Arab League’s America sectionIbrahim Mohieddin said the meeting whichwas attended by Secretary-General NabilAl-Araby will discuss logistical and tech-nical preparations for the Riyadh Summit.
Michelle Obama arrives in Qatar for speechUS first lady Michelle Obama arrived inQatar on Monday as part of a two-countryMideast tour, with plans to visit a crucialair base in America’s war against theIslamic State group and give a speech onthe importance of girl’s education.
Obama touched down in Doha, theQatari capital, on Monday night, the state-run Qatar News Agency reported, withoutelaborating.
While in Doha, she’ll visit the al-Udeidair base with comedian and late-night talkshow host Conan O’Brien. The basehosts the forward headquarters for USCentral Command, as well as aircraftinvolved in the campaign of airstrikes tar-
geting Islamic State militants in both Syriaand Iraq.
Obama is scheduled to give a speechWednesday on her Let Girls Learn initia-tive at the 2015 World InnovationSummit for Education, sponsored by theQatar Foundation. The foundation ischaired by Sheikha Mozah bint Nasseral-Missned, former ruler Sheikh Hamadbin Khalifa Al Thani’s most high-profilewife.
Ahead of her speech, The Atlantic pub-lished an article online Monday byObama, in which she said cultures, aswell as funding, needed to be addressedto ensure girls are educated. (AP)
Govt runs out of patience
Iraq sacks trade officials in graft probeBAGHDAD, Nov 3, (RTRS): Iraq’s actingtrade minister sacked the head of its powerfulgrain board and six other officials over graftallegations, sources said on Tuesday, in a testof Prime Minister Haider al-Abadi’s ability topush through political reforms.
Two trade ministry officials, speaking oncondition of anonymity, said the move byMohammed Shia al-Sudani was part of acomprehensive operation. It aimed to“cleanse the ministry of officials who haveany hint of corruption”, one said.
The grain board is responsible for procur-ing grain internationally and from Iraqi farm-ers, making it one of the world’s biggestimporters of wheat and rice. Any disarraythere would raise concerns over the country’sability to secure strategic commodities.
The sweep also focuses attention onAbadi’s attempts to push through reformsannounced in August after nationwideprotests erupted over corruption, poor elec-tricity and water services and unemployment.
In an effort to rein in Abadi amid discon-tent over his leadership style, Iraq’s parlia-ment voted unanimously on Monday to barthe government from passing importantreforms without its approval.
Some trade officials and their deputieswere replaced after they were found to beunqualified for their positions, a ministrystatement said on Tuesday.
Authorities issued an arrest warrant lastmonth for then Trade Minister MilasMohamed Abdul Kareem after a corruptioninvestigation into alleged bribes, illegal bene-fits and misuse of his position.
A court also summoned Abdul Kareem —among the most senior officials to face judi-cial action since Abadi launched the cam-paign — along with eight other ministry offi-cials for questioning over claims of illicitgains made from the purchase of a Uruguayanrice shipment.
Abdul Kareem, whose current whereaboutsare unknown, has said the allegations are notbased on solid evidence.
Several trade ministry officials have facedcorruption allegations in the past, and fourministry security guards are being prosecut-ed for allegedly killing a ministry mediaadviser in September with a bomb attachedto his car.
“The government has run out of patience...and must hit with an iron fist to eliminate theplague of corruption in the ministry.”
News in Brief
Smart birth certificates in ’16: AssistantUndersecretary for Legal Affairs in the Ministry of HealthDr Mahmoud Abdulhadi said the issuance of smart mag-netic birth certificates will start next year, reports Al-Anbadaily.
Abdulhadi explained this step is being taken in line withthe latest technological developments in a bid to preventforgery, manipulation of cases or damages caused by fre-quent usage in government departments and other institu-tions.
He said the smart magnetic birth certificates will containchips for saving all the required information like the birthreport for newborn babies and to allow easy modification ofnames or surnames.
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52.5 pc divorce in 1st 6 mths: The number of mar-riages in the first six months of 2015 totaled 7,138 while thedivorce rate reached 52.5 percent, reports Al-Qabas dailyquoting statistics from the Legal AuthenticationDepartment in the Ministry of Justice.
According to the statistical report, a total of 3,861 mar-riages were authenticated by a marriage official and the restwere done by the department.
On the other hand, 699 marriages were certified througha court verdict and testimony of witnesses while 61 mar-riages took place in other countries.
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Privatization in coop resurfaces: Talks on the pri-vatization of central markets in cooperative societies resur-faced after the representatives of more than 39 cooperativesvoiced objection to the idea, reports Al-Shahid daily quot-ing sources.
Sources confirmed the Ministry of Social Affairs andLabor has consulted the Fatwa and LegislationDepartment regarding the proposed privatization.Sources said the ministry is gearing towards the privatiza-tion of the central markets in Dasma and Bneid Al-GarCooperative Society due to the financial losses that thelatter has incurred; otherwise, the ministry might shutdown the cooperative.
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