$100m investment firm to spur industries

Kuwait City, March 3, 2009

A new Gulf-based investment company worth $100 million will target and stimulate the region’s industrial sector.

Faisal Al Anjari, chairman of Al Jawhara Holding, said in an interview with CNBC Arabiya that the company will be launched by the end of March and include investors from Saudi Arabia, Qatar, Kuwait and the UAE.

Al Anjari believes that investors have too often neglected the Gulf’s industrial sector.

“However, all the investment requirements are available in regard to capital, raw materials and government support,” he said.

Even though the global economic crisis has clearly affected the Gulf’s banking sector and financial markets, the industrial sector still remains very attractive for investors, Al Anjari added. – TradeArabia News Service

Tags: Kuwait | CNBC | Industrial Sector | investment firm | Al Jawhara Holding |