The Kuwait China Investment Company (KCIC) is one of a number of firms in the Gulf seeking to build commercial and financial bonds between the Middle East and Asia, preparing to profit from a rise in consumer spending there as global economies recover.
“We’re very much a domestic consumption story philosophy,” said Ahmad al Hamad, KCIC’s managing director. “We look at Asia for when Asia becomes a consumer of its own goods and services, and not Asia for when it has an export-driven economy. So we’ve decided to focus on sectors that will drive that story forward.”
KCIC joins a range of investors in the UAE and across the Gulf, including sovereign wealth funds and a range of private firms, that are targeting assets expected to play a pivotal role in the development of China and India into global economic powerhouses.
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