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FINANCIAL NEWS
Kuwait’s Agility seeks to tap Arab Spring countries
12 Sep 2012
(MENAFN) Kuwaiti logistics firm Agility unveiled plans to tap countries that experienced the Arab Spring uprisings, as new governments there spend more on their oil industries and infrastructure, Reuters reported.
Chairman and managing director Tarek Sultan said that the group, which was the largest supplier to the US Army in the Middle East during the war in Iraq, is shifting focus away from defence services.
He added that the company was in talks with the new governments in Egypt, Tunisia and Libya on increasing its presence and investments.
The firm expects new governments in the region, under pressure to reduce unemployment, to drive efforts that would lead to create more private-sector jobs and ease rules on investments.
Agility, which is present in more than 100 countries, is seeking to benefit from opportunities created by the Arab Spring, as part of its new strategy to strengthen its business in emerging markets, beyond more developed economies in the West and the Gulf.
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