What is the most valuable currency in the world? This is a problem that many people cant answer. If the exchange rate is calculated against the US dollar, the worlds most valuable currency is Kuwait KWD. According to the latest exchange rate, 1 Kuwait will be converted to 3.3 dollars. 5 front side of the bill Every Xiaobian noticed that the front page of the new version of Kuwaits 5 dollar banknote stamped the pattern of the new building of Kuwaits central bank. The building was built by the Middle East Branch of China construction. It is absolutely not a case in Kuwait for Chinese enterprises to build the Central Bank of other countries. China is now the second largest exporter and the first major importer in Kuwait, and the direct investment of Chinese enterprises in Kuwait has also played an important role in the economic transformation of the Gulf. Chinese enterprises contract the new building of the Central Bank of Kuwait According to China Construction official website, the central bank building project of Kuwait was built by the Middle East Company of the group and the general contractor of China Construction Corporation. The project covers an area of 258 thousand square meters, with a height of 238.5 meters, with a total contract value of 407 million US dollars. It started in April 2008 and was delivered in April 2017. Arabia media report on new building of Kuwait central bank Kuwait is located in the Middle East, the weather is very hot and dry, the highest temperature in summer can reach 50 degrees, and the building energy consumption is relatively high. In view of the local environment, Chinese buildings use a number of technologies to reduce building energy consumption, such as the use of roofing in the employees parking lot. All the office areas use overhead floor and underboard air supply system; the top glass curtain wall adopts a breathing glass curtain wall, and the intelligent shutter is combined with the intelligent shutter to realize the full automatic adjustment of the ventilation and lighting. The economic benefits of the application of various new materials and technologies are about 5700 yuan. Kuwait seeks economic transformation Like other countries in the Gulf, Kuwaits economy is highly dependent on the oil and gas industry, and at the moment they are actively promoting economic transformation, hoping to get rid of their dependence on oil resources. Kuwait is rich in oil and gas reserves, with proven oil reserves of 140 billion tons and natural gas reserves of 1 trillion and 800 billion cubic meters. The oil and natural gas industry is a pillar industry in Kuwait. Its output value accounts for 45% of GDP and 92% of export trade, accounting for more than 95% of government revenue. Every Xiaobian notes that Kuwaits economy and international oil prices are also highly correlated. In 2012, Kuwaits per capita GDP was as high as $523 thousand, ranking the fourth in the world; but in 2015, the average price of Kuwait was nearly half, only $289 thousand, in 2015. Kuwait, like its neighbouring countries, has launched its own vision 2035 plan to build a diversified economic structure and get rid of its single dependence on oil resources. Among them, the financial industry and infrastructure construction were mentioned by Kuwait as the strategic height of economic transformation. The orange is Kuwait and the green is Iraq. (photo source: Wikipedia) In 1990, Iraq occupied Kuwait for seven months. According to New York Times statistics, the war (including the subsequent Gulf War) brought about 676 billion dollars of economic losses to the region. Before the war, Kuwait was more prosperous than its neighbours, but the impact of the war made foreign investment evacuate, the export of oil changed and the economy of Kuwait was once destitute. More importantly, the war destroyed many infrastructure in Kuwait, and the progress of post war reconstruction was slow. Chinese enterprises who are good at capital construction have the opportunity to enter Kuwait, which has provided a lot of help to locals. Kuwait welcomes Chinas investment Every Xiaobian noted that Chinese enterprises have strong sense of presence in Kuwait. According to the latest data of the counsellors office of Chinas embassy in Kuwait, Chinas import and export trade with Kuwait totaled 12 billion 40 million US dollars in 2017, an increase of 28.5% over the same period last year. According to Madeleine Todd, manager of the Middle East Group of DDT accounting firm, Kuwait has made great efforts to welcome Chinas investment. In the past, the laws of the Gulf region and Europe and the United States were not easy to adapt to the rest of the world. In view of the needs of Chinese enterprises, Kuwait has specially adjusted its tax system and modified the law of foreign direct investment and the implementation of the PPP project so as to make it convenient for Chinese enterprises to carry out their business in Kuwait. Todd also said that Kuwaits current consideration of foreign investment is mainly in two aspects: one is to see whether foreign capital brings technology of higher technological content, and the two is to see whether foreign capital is willing to employ local people and bring employment opportunities. Chinese enterprises often have the patience to cultivate local skilled workers in Kuwait, and also be willing to hand over the middle and low level management positions to the local people, so the Chinese capital is also warmly welcomed by Kuwait. According to the Kuwait times, Khalid, the Minister of Commerce and industry of Kuwait, had visited China many times, interviewed Chinese entrepreneurs and officials personally, and invited China to invest in factories in Kuwait. According to the statistics of the Turin Current Affairs Research Association of Italy, Chinas investment in the Middle East has increased by more than 5 times from 2009 to 2015, and Chinese enterprises have brought great help to the Middle East in the areas of infrastructure, transportation and even financial services. Source: Daily Economic News Editor: Wang Zheng _NN7526 According to the Kuwait times, Khalid, the Minister of Commerce and industry of Kuwait, had visited China many times, interviewed Chinese entrepreneurs and officials personally, and invited China to invest in factories in Kuwait. According to the statistics of the Turin Current Affairs Research Association of Italy, Chinas investment in the Middle East has increased by more than 5 times from 2009 to 2015, and Chinese enterprises have brought great help to the Middle East in the areas of infrastructure, transportation and even financial services.