Connect with us

Business

Japan and Kuwait deepen business ties through strategic Diwaniya gathering

Published

on

Japanese Ambassador to Kuwait Mukai Kenichiro poses with the Kuwaiti business men

KUWAIT CITY, May 19: Japanese Ambassador to Kuwait Mukai Kenichiro organized the ‘Japanese-Kuwaiti Business Diwaniya’ at his residence, with Assistant Foreign Minister for Asian Affairs Ambassador Samih Jawhar Hayat, a group of Kuwaiti businesspersons, and representatives of the public and private sectors in attendance. The meeting aimed to strengthen the economic and technological partnerships between Kuwait and Japan and expand the horizons of cooperation in various fields.

Mukai expressed his pride and gratitude for the presence of the guests, stressing that the Diwaniya is a strategic opportunity to revive the Japanese-Kuwaiti Business Committee at the governmental level and exchange views on the future of trade and investment cooperation between the two countries. He pointed out that the current phase is a turning point in economic relations between the two countries, calling for strengthening cooperation in sustainable development, social responsibility, and the green economy. He affirmed that Japan is one of the largest global investment markets, with capital investments reaching approximately $700 billion in 2023. He urged the Kuwaiti businesspersons to explore the available opportunities, particularly through the Kansai-Osaka Expo, which was launched in April and will continue for six months.

He revealed the Expo showcases advanced Japanese technologies, such as room-temperature hydrogen production devices, carbon dioxide capture and emission technologies, and industrial fuel production. He said these technologies are plausible solutions for the realization of Kuwait’s goal to achieve carbon neutrality by 2050. He also cited the perovskite solar cells developed by Panasonic, which can be installed on windows and are currently used in Toyota cars that charge while driving, making them ideally suited to the sunny environment in Kuwait. In the healthcare sector, he highlighted the regenerative medicine technologies using IPS cells, which offer advanced therapeutic capabilities, calling for investment in them and their use within the healthcare system in Kuwait. He also talked about the contributions of major Japanese companies, such as Mitsubishi, Toshiba and JERA, to infrastructure and energy projects in Kuwait.

The Ambassador with some of the Kuwaiti entrepreneurs

He asserted that these projects are not merely commercial activities, as they are rather contributions to improving the quality of life. He was quick to add that these companies are facing challenges, such as the slow bidding process, delayed procedures, and lack of focus on reducing emissions. He revealed the Japanese government is engaged in a serious dialogue with the Kuwaiti side to address these challenges, calling on decision-makers to support these efforts to improve the joint business environment. He affirmed the embassy’s readiness to provide all forms of support to Kuwaiti businesspersons, wishing to introduce Japanese products and technologies to the local market. He is hoping that Kuwait will become a regional center for adopting Japanese innovations and exporting them to the Gulf states, especially Saudi Arabia and the United Arab Emirates (UAE).

On the other hand, Mubarak Al-Sayer, Executive Board Member of Al-Sayer Group, presented the history of the long-standing partnership with Japan, dating back to 1954, when the group became the first distributor of Toyota vehicles in the Middle East, thanks to his late father, Nasser Mohammed Al-Sayer. Al-Sayer explained that this relationship has evolved into a strategic partnership spanning more than seven decades, making Al-Sayer Group the largest importer of Japanese goods in Kuwait, including major brands like Toyota, Lexus, Hino, Hitachi, Kawasaki, Yokohama, Akai, Sakai, JCB, and Canon.

Mukai Kenichiro delivers a speech

He asked the Japanese government to facilitate entry for Kuwaitis by granting visas upon arrival, stressing that the Kuwaiti people’s passion for Japan is growing in the fields of education, entertainment, and commerce. He affirmed Al-Sayer Group’s commitment to continuing its longstanding partnership with Japan for future generations, stating that “this partnership is not only a legacy we cherish, but a future we are working hard to consolidate.

By Fares Ghaleb
Al-Seyassah/Arab Times Staff

Business

Kuwait-China ministerial committee advances key development projects

Published

on

By

His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah chaired a meeting of the Ministerial Committee at Bayan Palace on Thursday to follow up on the implementation status of agreements and memoranda of understanding signed between the governments of the State of Kuwait and the friendly People’s Republic of China.

KUWAIT CITY, Sept 18: His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah chaired Thursday, at Bayan Palace, the 27th ministerial committee meeting to follow up on the implementation of agreements and memoranda of understanding signed between Kuwait and China. The meeting reviewed the latest progress in executing developmental projects included in the MoUs, especially cooperation in Mubarak Al-Kabeer Port, electricity systems, renewable energy, low-carbon recycling, housing, environmental infrastructure, free zones, and economic zones.

The meeting examined the outcomes of Chinese delegations’ visits this month, regarding cooperation between Kuwait and Chinese companies in environmental fields, afforestation, combating desertification, and ensuring effective collaboration to implement the agreed development initiatives efficiently and sustainably. His Highness directed committee members to ensure the strict implementation of signed agreements with major Chinese government companies, emphasizing adherence to strategic plans to achieve the intended results within the specified timeframes, ensuring proper execution of all projects. Assistant Foreign Minister for Asian Affairs, committee member and rapporteur Samih Jawhar Hayat, stated that the meeting discussed major development projects, reviewed upcoming Chinese delegations’ agendas, and highlighted that the Chinese state company will begin phases three and four of renewable energy projects, emphasizing Kuwait’s commitment to advancing joint initiatives and strengthening bilateral cooperation.

The meeting was attended by Head of the Prime Minister’s Office Abdulaziz Al-Dakheel, Minister of Public Works Noura Al-Mashaan, Minister of State for Municipality Affairs and Housing Abdullatif Al-Mishari, Minister of Electricity, Water and Renewable Energy and Minister of Finance and Acting Minister of State for Economic and Investment Affairs Sabeeh Al- Mukhaizem, Director General of the Direct Investment Promotion Authority Dr. Meshaal Jaber Al-Ahmad Al-Sabah, Head of Fatwa and Legislation Office Salah Al-Majid, Undersecretary of the Ministry of Defense Abdullah Al-Sabah, and Assistant Foreign Minister for Asian Affairs and Member and Rapporteur of the Ministerial Committee Samih Jawhar Hayat.(KUNA)

Continue Reading

Business

Kuwait Oil Company begins commercial production at the Mitribah field

Published

on

By

Kuwait Oil Company begins commercial production at the Mitribah field

Kuwait Oil Company CEO Ahmad Al-Eidan delivers his speech

KUWAIT CITY, Sept 18:  Kuwait Oil Company (KOC) has officially begun commercial production at the Mitribah oil field in northwestern Kuwait, CEO Ahmad Al‑Eidan announced Thursday, marking a major milestone in the company’s strategic expansion.

Al‑Eidan, speaking at a ceremony in Ahmadi City under the patronage of Oil Minister Tareq Al‑Roumi, described the launch as more than just completing a project. He called it “a living testimony” to the determination, innovation, and cooperative spirit within KOC.

He said Mitribah now joins KOC’s productive assets, giving “a strong push” to the company’s strategic path. Reflecting on his own history with the field, Al‑Eidan recalled his early work in the 1990s as a geologist in KOC’s exploration group, witnessing its development through many years.

Al‑Eidan explained that the milestone comes at a pivotal moment for KOC, which recently undertook a major organizational restructuring designed to enhance efficiency, sharpen its vision, and boost momentum across all its sectors. A key outcome of that reorganisation is the formation of the “New Exploration Group,” aimed at accelerating the process from exploration to production—especially in complex or unconventional reservoirs.

He pointed out that Mitribah is the first major achievement under this new structure. Institutional support and a clear strategic vision, he said, helped reduce project timelines, mitigate risks, and strengthen Kuwait’s position in global oil production.

Al‑Eidan praised the work of specialized geologists, engineers, planners, operators, and technical support staff. He also acknowledged the role of partners and contractors, whose cooperation and commitment he said were essential to overcoming infrastructure challenges and deploying advanced technologies efficiently.

He added that this achievement is not the end but the start of a more ambitious journey. He called on all involved to maintain momentum, continue adopting the latest technical solutions, and foster a culture of innovation and excellence, united by a strong sense of responsibility and teamwork.

Commercial output from Mitribah officially began on June 15, 2025, after connecting several wells to KOC’s production facilities. The field, located in a previously undeveloped stretch in northwest Kuwait, covers more than 230 square kilometres and lies outside the area of fields already operated by the company. Light oil with commercial viability was first discovered there in 2009. One of the major technical challenges was managing hydrogen sulfide gas concentrations of up to 40 percent, which contributed to delays in production start‑up.

The CEO of Kuwait Oil Company presents commemorative gifts to the Minister of Oil.

Continue Reading

Business

US-Arab Chamber of Commerce names Kuwaiti Al-Mudhaf as new Director of External Affairs

Published

on

By

US-Arab Chamber of Commerce names Kuwaiti Al-Mudhaf as new Director of External Affairs

Kuwaiti Fawaz Al-Mudhaf appointed director of External Affairs at US-Arab Chamber of Commerce

WASHINGTON, Sept 18:  The US-Arab Chamber of Commerce has appointed Kuwaiti national Fawaz Al-Mudhaf as its new Director of External Affairs, in a strategic move aimed at deepening US-Arab economic ties and empowering emerging regional talent.

The announcement, made on Wednesday, reflects the Chamber’s broader vision to enhance cross-border cooperation and nurture young leaders capable of navigating the evolving landscape of global trade and diplomacy.

“This appointment embodies the Chamber’s commitment to developing regional talent that contributes to and enhances cross-border cooperation,” the Chamber stated in a press release. It added that the selection of Al-Mudhaf aligns with the organization’s goal of equipping emerging leaders to adapt to rapid transformations in US-Arab economic and diplomatic relations.

Al-Mudhaf is expected to spearhead the Chamber’s external affairs strategy, focusing on strengthening relations with decision-makers, global companies, and major institutions in both the United States and the Arab world. His leadership will be crucial at a time of shifting global alliances, new trade priorities, and the increasing need for international collaboration.

Expressing gratitude for the appointment, Al-Mudhaf said the role is “both an honor and a responsibility.” He emphasized that the US-Arab Chamber of Commerce is “more than just a business platform,” calling it “a trusted forum for dialogue, mutual respect, and opportunities for joint cooperation that strengthen ties between peoples.”

He affirmed his commitment to the Chamber’s mission, pledging to serve “with all sincerity” and to help consolidate US-Arab partnerships at a time when, he noted, “international communication has become more urgent than ever.”

Chamber President and CEO David Hamod praised Al-Mudhaf’s appointment, stating, “We are extremely proud of Fawaz, who is a fundamental pillar of the Chamber’s team. He is a fine example of a young Kuwaiti who is leaving an influential mark on the international scene.” Hamod added that Al-Mudhaf’s contributions are a “fundamental pillar in the Chamber’s success story.”

The US-Arab Chamber of Commerce, established over 50 years ago, is widely recognized as the oldest American organization dedicated to advancing US-Arab trade. It is often described as the “first commercial gateway” to the Middle East and North Africa for the United States.

As an independent, membership-based organization, the Chamber boasts over 50 members and partners and is the only American trade body officially recognized by both the League of Arab States and the Union of Arab Chambers. It continues to serve as a preeminent voice for American business interests in the Arab world, working to strengthen economic partnerships across the region.

Continue Reading

Trending

Copyright © 2025 SKUWAIT.COM .