Kuwait opens doors to private investors

Kuwait_cityPrivate investors are being encouraged to invest in infrastructure projects in Kuwait thanks to an attractive investment climate, according to a report from Deloitte. The report, Doing business guide – understanding Kuwait’s tax position, lists a number of benefits on offer for foreign investors which include ten-year tax holidays and customs exemptions for certain imports. In addition, the Kuwait Direct Investment Promotion Authority has brought in a scoring system to evaluate the granting of investment licences that is designed to encourage investment from businesses that have previously contributed to the Kuwaiti economy. Central to Kuwait’s investment plans is its 2035 Vision initiative, which contains development projects for North Kuwait and different islands around the country. According to Ihab Abbas, partner and tax leader at Deloitte Kuwait, the development programme is aimed at “attracting investment, developing competitiveness and improving legislature to support the economic and social systems whilst creating more than 200,000 jobs”. ©2018 funds global mena

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