23-May-2013, The Ministry of Commerce & Industry signed on behalf of Kuwait Foreign Investment Bureau (KFIB) on May 23, 2013 a contract with Skidmore, Owings & Merrill LPP (SOM), a renowned international engineering and consulting firm that was awarded the contract by the Consultants Selection Committee (CSC) to conduct a feasibility study for the establishment of Kuwait Economic Zones allocated for KFIB in Al-Abdali, Al-Shegaya (Al- Na’ayem) and Al-Wafra regions with total area of 19 km2. The scope of work covers several crucial components relating to market assessment & investor demand analysis; policy legal, regulatory & institutional framework; site evaluation, land use/physical planning, & master plan; environmental impact assessment; financial & economic analysis; development of strategy with alternative mechanisms and a guidebook, as well as a detailed implementation plan based on best practices and in coordination with various stakeholders. The World Bank provides technical support for this project as per its bilateral technical agreement signed with the Ministry of Finance. The land development project is one of KFIB work program under the current development plan (2010/2011-2013/2014). The contract duration is 12 months. Upon completion of the study, KFIB will have abundant lots of land to be duly appropriated for light industries, logistics and other services based on Kuwait’s comparative advantage and natural resource endowment thus. This will further support the diversification of the productive base of the country, fostering the role of the local private sector, and attracting FDI into viable investment opportunities in those economic zones.
