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 and 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 today and tomorrow (March 20-21) 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-organized 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). HH The Amir will attend the Forum.
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 center. 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.
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’.