Amman Voice: kuwait

July 13, 2007

Kuwait's KGL Petroleum to Invest $500 Million in Jordan

Amman, July 12 (Petra)--Board Chairman of the Kuwait KGL Petroleum Company and Former Kuwaiti Industry and Trade Minister Yousef Al Zalzalah said that the company had allocated $500 million for investment in Jordan.

"The amount could increase, for the company intends to expand its investment in the future," Al Zalzalah said in a statement to Jordan News Agency.

His visit to Jordan, he added, came due to Jordan's good reputation in the investment field, noting that this prompted Kuwaitis to set up investment projects in Jordan.

The KGL chairman said the company has investments in various oil sectors, adding the company started investing in Jordan, particularly after its representatives attended a conference in Jordan and held meetings with Jordanian investors.

Al Zalzalah hailed Jordanian legislations which encourage Arab and foreign investors to invest in the country through providing them with facilities and preserving their rights.

"The strong brotherly ties between His Majesty King Abdullah II and the Emir of Kuwait Sheikh Sabah Al Ahmad Al Sabah also prompted Kuwaitis to invest in the Kingdom," he added.

The Benefits of Great Streets

Stronger Local Economies
- Shoppers are walkers: improved pedestrian life supports local businesses and jobs.
- Street investments enhance real estate values and increase the tax base.
A Sense of Community
- Great streets create emblematic places that define communities.
- Sidewalks serve as public venues shared by people of the diverse ethnicities and ages.
- Vibrant streets encourage local pride and volunteerism.
Improved Safety and Security
- Making neighborhoods safer for pedestrians and bicyclists saves lives.
- More "eyes on the street" actually reduce crime and increase residents' sense of security.
Better Access for All
- Reduced emphasis on cars and parking makes transit, walking, and biking more viable options.
- Walkable streets are comfortable public settings for people of diverse abilities.
- Community assets, jobs, and services become more accessible.
Healthier Cities
- Increased walking makes for a healthier population.
- Decreased traffic volume and congestion reduces pollution.
- Streets as public venues combat isolation and depression.
Wise Development
- Investing in streets is an efficient use of existing infrastructure.
- Increased foot traffic attracts new development and businesses.
- Success fosters ongoing investment.