Kuwait, March 19, 2018:
The State of Kuwait is rolling out investment partnerships and
strategic investment opportunities valued at more than $ 100 billion in
key economic and social sectors for investors that include information
& communications technology, oil & gas, renewable energy,
electricity & water, urban developments & housing, healthcare,
education, transport, tourism, and the North zone development. The
showcase of opportunities that bring long-term added-value and returns
on investments is being highlighted at the Kuwait Investment Forum 2018
(KIF 2018) to be held on March 20 and 21 in Kuwait City, where several
new deals are also set to be revealed. Held
under the patronage of His Highness the Amir Sheikh Sabah Al-Ahmad
Al-Jaber, KIF 2018 is co-organised by the Kuwait Direct Investment
Promotion Authority (KDIPA), and the Kuwait Chamber of Commerce and
Industry (KCCI) at the Bayan Palace and the Jaber Al-Ahmad Cultural
Centre (JACC). The
event builds on the positive momentum gained globally following the
country’s commitment to the Kuwait 2035 roadmap that aims to transform
the nation into a world-class financial and commercial centre. Kuwait is
a country that enjoys a secure, open and dynamic market that welcomes
inward direct investments to forge partnerships that would complement
its outward investments in several countries around the world led by its
renowned Sovereign Wealth Fund, and with its leading global presence in
the oil and gas sector through the Kuwait Petroleum Corporation (KPC)
and its K-companies as well as its buoyant private sector. Kuwait
has significant economic and commercial relations with India, while
many leading Indian companies have their established presence in the
country. There are significant opportunities for Indian companies to
collaborate on the national development plan. The door is wide open for
even more stronger Indian private sector partnerships will be showcased
at KIF 2018 with a focus on some of the most attractive investment
opportunities. Ali
Al-Ghanim, Chairman of the KCCI, said, “Kuwait is taking determined
steps to continue its transformation into one of the world’s most
competitive economies. In its re-emerging development narrative, the
private sector has a significant role to play. The country has always
been an open market economy, formed strong trade and commercial
relations, and remains a strong believer in liberalization, which is
maintains its dynamic and thriving nature. This and more, will be
highlighted at KIF 2018 and investors are welcomed to see first-hand the
opportunities available today that will enable them to build their
solid operational base from the central location of Kuwait to engage
with the rest of the region.” Sheikh
Dr. Meshaal Jaber Al Ahmad Al Sabah, Director General for KDIPA, said:
“Value added FDI flows into Kuwait increased in the past two years
enhancing innovation and foster competitiveness whilst also contributing
to achieve the National Vision 2035 goals pertaining to diversifying
the economy and ensuring a sustainable future. We are confident that KIF
2018 will lend further momentum to the inward inflows in a number of
high-growth sectors that will be showcased varying from oil and gas,
renewable energy, manufacturing, education and training, financial
services, information technology and digital solutions, healthcare
services, transport and communications among others. Kuwait provides
investors with a host of incentives that include 100 per cent foreign
ownership to establish legal entities anywhere in the country, along
with exemptions on income tax up to 10 years, as well as customs duty
exemptions for projects. KDIPA is at the forefront to exercise its role
in providing all needed information, facilitation and aftercare
services for existing and potential investors to ensure they establish
successful businesses in our promising market that is expected to
further play a leading role throughout the region and the neighboring
countries capitalizing on its low risk status, balanced international
relations, improving business climate, and large pool of young,
tech-savvy population, with unique cultural identity. ” KIF2018
has remarkable confirmed guest speakers of prominent pubic officials,
leading Kuwaiti business and financial community, as well as prominent
international business executives. It has a crystallized agenda that underpins the future investment strategy and roadmap for global investors through interactive sessions with focused discussions that cover topics
such as ‘Investing for the Future Kuwait’, which underpins the nation’s
role as an important partner in the Belt and Road initiative (BRI),
trade facilitation to enhance Kuwait’s leading position in integrated
Logistics services and cross border supply chains, and on financing for
sustainable development. There will be a dedicated session on a wide
array of lucrative investment opportunities in the country’s dynamic
growth sectors. In addition to a special feature on ‘New Kuwait’
in what is the first public discussion on the development roadmap since
its launch last year. It will present a ‘Progress Report’ on the
projects and developments under its seven pillars: Public
Administration, Economy, Healthcare, Living Communities, Infrastructure,
Human Capital and global position. KIF2018 will close with a vivid dialogue on ‘Kuwait’s Development Path: The Vision & the Determination’. The
Forum will be attended by H.H. the Emir, the Prime Minister and his
deputies, the ministers and high-ranking officials, the head of the
Parliament, and the private sector, with international organizations. For more details and registration, visit: kif.kdipa.gov.kw -ends- Note to Editors About Kuwait Investment Forum 2018: Under
the patronage of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber
Al-Sabah, the second edition of the Kuwait Investment Forum (KIF2018) to
be held March 20 and 21, 2018, at the Jaber Al-Ahmad Cultural Centre
(JACC), Kuwait City, supports the concerted efforts to boosting Kuwait’s
economy and improving its business competitiveness. The
two-day forum is co-organised by the Kuwait Direct Investment Promotion
Authority (KDIPA), and the Kuwait Chamber of Commerce and Industry
(KCCI). It aims to reaffirm the government’s interest in promoting and
facilitating value-added investments into Kuwait’s dynamic market, which
focuses on the private sector leading economic activity, innovation and
competitiveness. Supporting
the Kuwait Vision 2035, KIF 2018 will provide an interactive platform
that brings together high-ranking government officials, local and
foreign investors, industry leaders and executives, consultants and
financial institutions, to showcase developments that underline Kuwait’s
business environment, investment opportunities, and emerging trends. www.kif.kdipa.gov.kw About Kuwait Business Climate: Among
the drivers of Kuwait’s investment landscape are its central location,
effortless connectivity, high quality of life, modern infrastructure,
robust legal framework, strong macroeconomic fundamentals, sound banking
system and low political risk. Kuwait ranks 30 of 137 countries for its
overall macroeconomic environment, as per the World Economic Forum
Global Competitiveness Report 2017-18, in addition to being ranked as
the world’s third most attractive tax regime. The country ranks 96th
in the World Bank Ease of Doing Business Report, higher than the Middle
East average, and has an Economic Freedom Score of 62.2, making it the 5th
freest in the region. With its uniquely democratic and stable
government, Kuwait benefits from a National Constitution that embraces
liberal, democratic values.
Source: PR
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