{"id":137812,"date":"2023-09-02T17:10:42","date_gmt":"2023-09-02T14:10:42","guid":{"rendered":"https:\/\/timeskuwait.com\/news\/?p=137812"},"modified":"2023-09-02T17:11:22","modified_gmt":"2023-09-02T14:11:22","slug":"crown-prince-attends-70th-anniversary-celebrations-of-kio","status":"publish","type":"post","link":"https:\/\/timeskuwait.com\/news\/crown-prince-attends-70th-anniversary-celebrations-of-kio\/","title":{"rendered":"Crown Prince attends 70th anniversary celebrations of KIO"},"content":{"rendered":"

THE TIMES KUWAIT REPORT<\/strong><\/p>\n

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Under the patronage and in presence of His Highness the Crown Prince Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah, Kuwait Investment Office (KIO) celebrated its 70th anniversary in London on 29, August.<\/p>\n

Upon his arrival at the celebration, His Highness the Crown Prince was warmly welcomed by Kuwait\u2019s Deputy Prime Minister, Minister of Oil, Minister of State for Economic Affairs and Investments, Acting Minister of Finance, and Chairman of the Board of Directors of the Kuwait Investment Authority (KIA, Dr. Saad Al-Barak; Minister of Foreign Affairs of Kuwait, Sheikh Salem Abdullah Al-Jaber AI-Sabah; the Managing Director of KIA, Ghanem Al-Ghenaiman; and KIA board members as well as senior officials from the leading global financial institutions in the world.<\/p>\n

\"\"<\/a><\/p>\n

In an opening speech, Dr. Saad Al-Barrak said, \u201cWith the wisdom of Kuwait\u2019s forefathers, an agreement was signed between His Highness Sheikh Abdullah AI-Salem AI-Sabah and His Majesty\u2019s Political Agent in 1953, which established the Kuwait Investment Board in London on 23 February, 1953, the predecessor of the Kuwait Investment Office.\u201d<\/p>\n

\u201cThe objective of the Kuwait Investment Board was to provide a long-term investment return and an alternative income to oil reserves so as to enable Kuwait\u2019s future generations to face uncertainties ahead with greater confidence. This foresight has enabled the KIA, the oldest sovereign wealth fund in the world, to become one of the largest globally,\u201d Dr. Al-Barrak added.<\/p>\n

\"\"<\/a>In his address to the high-level attendees, Al-Ghenaiman stated, \u201cThe UK offers numerous attractive investment opportunities in healthcare, energy, real estate and infrastructure, to name a few key sectors.<\/p>\n

\u201cWith its wholly-owned entities based in London \u2014 St. Martins Property and Wren House Infrastructure \u2014 KIA participates in strategic opportunities in UK\u2019s real estate and infrastructure. This includes direct holdings in London City Airport and Associated British Ports and indirectly in numerous other projects.<\/p>\n

In fact, the KIA is one of the largest international real estate owners in the UK,\u201d he pointed out. \u201cKIO\u2019s Platinum Jubilee celebration is a landmark occasion. Despite today\u2019s challenging world and current geopolitical turmoil, the close cooperation between the UK and Kuwait will continue to prosper and grow for years to come,\u201d Al-Ghenaiman added.<\/p>\n