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Kuwaiti amir planning to invest 3 billion USD in Turkey
The official consultant of Kuwait's Amir Sabah al-Ahmad al-Jabir al-Sabah in Turkey said the Amir was planning to implement three or four giant projects in Turkey, worth 3 billion USD.
"We have made 1.5 billion USD of investments in Turkey in the recent three years," Uğur Akkaş, the chairman of the Sems Turk Kuwait-Turkey investment consultancy company, told the Anatolia news agency.
Akkaş said they had mainly invested in immovables, some portfolio purchases in the İstanbul Stock Exchange (IMKB), and tourism.
The chairman said they planned to invest the 3 billion USD on real estates, and they were focused on İstanbul.
Akkaş said the company was also interested in hydroelectrical power plants, and defined Turkey as a country that might become the food hub of the Gulf region in coming years.
"We focus on the Southeastern Anatolia Project (GAP) region in agriculture," he said.
Akkaş said he thought they would increase their investments by 2012.
Uğur Akkaş also said Turkey was a favorite country after the world conjuncture had changed, and the Amir had turned his course towards Turkey and neighboring countries.
Turkey's trade volume with Kuwait is around 500 million USD.
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