04.13.08

Michel’s visit to Kuwait attracts investors

Posted in Business and Economy, Foreign investments, International Organisations at 11:52 am by Robert Klien

The visit by President Michel to Kuwait in February helped attract Kuwaiti investors to the Seychelles.

On April 8, 2008, three representatives of a major Kuwaiti business developer paid a visit to Seychelles’ President James Michel at State House. Later they said that they are going to make huge investments into the jurisdiction.

After discussions with the President, the managing director of the BluePrint company, Meshal Almelhem, told the local media that with assurances from the African Development Bank (ADB), the private sector represented by his firm has made a decision to invest in the African region. He said that having seen President Michel, the country and the people, he ans his colleagues from BluePrint need not look any further than Seychelles as they have understood that it is a very stable jurisdiction.

He also added the following: “We have realised that Seychelles is a goldmine and a haven for investors. There are many opportunities that will create mutual benefits for the government and the people of Seychelles and the investors as well”.

BluePrint will work with the government of the Seychelles to develop potential projects in the finance, technology, and tourism as well as in other sectors.

Mr Almelhem was accompanied by Ahmed Alquraishi and Yousel Al Bader from BluePrint, and Peter Sinon, executive director of the ADB. Also, the Minister for Community Development, Jacquelin Dugasse; Secretary of State, Alain Butler Payet; principal secretary for Presidential Affairs, Jean-Paul Adam; and special adviser in the Ministry of Foreign Affairs, Vivienne Focktave, were present at the meeting.

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