News

Kuwait plans new foreign investment laws

InvestmentKuwait’s lawmakers are planning to introduce new foreign investment rules in order to generate a greater capital influx and stimulate its sluggish economy, following in the footsteps of the UAE and Saudi Arabia which have both introduced similar measures in recent weeks to help move away from an oil-dependent economy. Arabic newspaper Al-Nahar reported that the proposed laws will be submitted to the parliament for approval once it resumes in October. According to the report, the new laws will aim to both attract more foreign capital into the country and also stop capital going abroad by easing the procedures for establishing new projects and businesses in Kuwait. Government data shows that foreign investment, which totaled $301 million, made up just 1% of total investment in 2017. The announcement of new foreign investment rules comes at the same time as Kuwait’s parliament forecast a sizeable deficit for the 2018-2019 fiscal year, estimating a shortfall of $21 billion, equivalent to 17.5% of GDP and its fourth consecutive deficit budget. ©2018 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Jan 04, 2019

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

Roundtables

ROUNDTABLE: Hooked to the global caravan

Jan 04, 2019

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.