London Seeks Kuwait’s Investments in British Technology Sector
The United Kingdom is eager to attract Kuwaiti businesses to expand into the technology field, according to Lord Dominic Johnson, Britain’s Minister of State in the Department for Business and Trade. In an exclusive interview with Kuwait News Agency (KUNA), Lord Johnson stated that his current mission in the country focuses on strengthening mutual cooperation and partnerships, specifically in environmentally friendly technologies.
Lord Johnson highlighted the longstanding business and investment cooperation between Kuwait and the UK, noting that the two countries are celebrating the 70th anniversary of the Kuwait Investment Office (KIO) in London. The KIO, one of the oldest of its kind in the UK, has made significant investments in vital sectors such as real estate and infrastructure, emphasized the British minister of state.
Lord Johnson praised the Kuwaiti business experience, noting that the Kuwaiti office was the first of its kind to be established worldwide, serving as an example for other countries. He emphasized that the Kuwaiti-British relationship extends beyond investments, with collaborations in defense and cyber security.
Additionally, Kuwait and Britain share a joint vision on regional and international affairs. Both countries regularly discuss matters of mutual concern through a steering committee that convenes every six months. Lord Johnson mentioned that the fourth round of UK-GCC negotiations on the free trade zone, focusing on information security, transfer of commercial data, and facilitating movement of personnel, is scheduled to take place next week.
Expressing satisfaction with the presence of many Kuwaitis in the UK for tourism and education, Lord Johnson encouraged Kuwaiti citizens who have not visited Britain to explore the nation’s landmarks.
In conclusion, London’s desire to attract Kuwaiti investments in British technology reflects a growing collaboration between the two countries. Such partnerships in the technology sector will not only boost economic growth but also contribute to environmentally friendly innovations. As Kuwait and Britain continue to strengthen their relationship, it is expected that the ties between the two nations will further deepen in various fields, promoting mutual prosperity and development.
