Construction firms urged to seek business opportunities in Kuwait
發佈日期: 2025-05-14 19:45
TVB News
The Persian Gulf nation of Kuwait has been increasing efforts to develop infrastructure and housing in recent years, with the Hong Kong Trade Development Council suggesting that local representatives of the construction sector seek opportunities in the Middle Eastern country.
Some in the relevant sectors stressed they could break into the Kuwaiti market jointly with state-owned enterprises.
Located in the Gulf region bordering Iraq and Saudi Arabia, Kuwait boasts the size of just 18,000 square kilometres -- similar to that of Beijing.
To many people in Hong Kong, their knowledge of Kuwait primarily stems from memories of the Gulf War in the 1990s.
But putting the historical conflict aside, Kuwait contains a treasure trove of natural resources, most notably its more than 100 billion barrels' worth of oil reserves.
That's around 10 percent of all oil reserves on the planet, with more than half of all industries in Kuwait linked with petroleum.
Like many of its neighbours, Kuwait is trying to reduce its reliance on fossil fuels and diversify its economy.
Outlined in its Kuwait Vision 2035 development plan, Kuwait City has earmarked 6 billion U.S. dollars for developing infrastructure and housing.
Irina Fan, the director of research at the Hong Kong Trade Development Council, said many Kuwaiti businesses have noted they may require consultation services for a lot of their projects.
She added that Hong Kong should take advantage of this given the Kuwaitis' high approval of the SAR's construction sector.
Local architect Ho Man-yiu, who is part of Chief Executive John Lee's delegation to the Middle East, said Hong Kong's construction sector should seek cooperation with state-owned enterprises in the mainland when offering services in Kuwait.
He added that the mainland's construction technology has surpassed that of Hong Kong in recent years, and it would only benefit the local sector to engage in this joint effort.
