January 6, 2015: A delegation from Kuwait Direct Investment Promotion Authority (KDIPA) headed by KDIPA’s Director General, Sheikh Dr. Meshaal Jaber Al Ahmad Al Sabah, held a meeting with H.E. Adel Hamad Al Ayyar, Head of Economics Department at the Ministry of Foreign Affairs, on December 29, 2014. The meeting was attended by other members of the department, and aimed at raising awareness on the importance of direct investment in Kuwait. KDIPA’s delegation provided an overview on Law No. 116 of 2013 regarding the Promotion of Direct Investment in the State of Kuwait, in the aftermath of the issuance of its Executive Regulations and other relevant resolutions for implementing it in accordance with best practices, that would ensure KDIPA will observe its stated goals and optimally perform its mandated tasks in encouraging direct investment in the country, streamlining business environment, facilitating procedures and eliminating obstacles encountered by the investors. Furthermore, KDIPA’s delegation explained the various legal entity forms allowed under the Law, including allowing a foreign entity ownership of 100% of its equity capital, opening a foreign branch, and a representative office for conducting marketing studies but not any commercial activities. They also presented the various incentives and exemptions to be granted upon the fulfillment of a preset rules, principles and criteria, as well as the nature of guarantees offered under this Law for direct investments in Kuwait. The meeting concluded by touching upon areas of potential cooperation between both parties, in view of the priorities of Kuwait Economic Diplomacy policy and current efforts to enhance economic diversification
