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Kuwait SWF investments in the US said to be worth over $300b

Kuwait SWF investments in the US said to be worth over $300b

 

KUWAIT CITY: Kuwait’s sovereign wealth fund investments in the United States are estimated at more than $300 billion, according to the Kuwait News Agency (KUNA).

The report coincides with the visit by Kuwait’s emir, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, to the US, with figures provided by the US Embassy in Kuwait. It said Kuwait’s exports to the US are primarily petroleum products, adding that MEGlobal, a wholly-owned subsidiary of Equate Petrochemical Company, is building a new monoethylene glycol manufacturing facility in Houston, Texas.

Kuwait also has investments in the Hudson Yards Project, the largest privately-funded real estate development project in North America, noted the report which was cited by state news agency WAM. It said that Kuwait also investments in tech start-up and enterprise investment, nurturing US technology, and small, but rapidly growing, companies.

According to the statistics, US companies are also well represented in several sectors in Kuwait, including oil and gas, defence and automotive areas.US medical equipment is also abundant throughout Kuwait’s hospitals and clinics, KUNA added..