31 March, 2015: Kuwait Direct Investment Promotion Authority (KDIPA) conducted its first official visit to Japan during the period March 22 to 27, 2015. KDIPA’s delegation was headed by Sheikh Dr. Meshaal Jaber Al Ahmad Al Sabah, Director General, accompanied by Mr. Bader Al-Jadi, Head of Investment Promotion section, and Mr. Mohammed Al-Sabbagh, Head of Investors Service section. During the visit, KDIPA’s delegation held a series of talks with several high rank Japanese government officials including H.E. Yasuhide Nakayama, Japan’s State Minister for Foreign Affairs, H.E. Yoshihiro Seki, Parliamentary Vice Minister of Economy, Trade & Industry, H.E. Issei Kitagawa, State Minister of Land, Infrastructure, Transport & Tourism, and H.E. Tsuneyuki Kato, Executive Vice President of the Japan External Trade Organization (JETRO), counterpart of KDIPA. Other meetings were held with prominent Japanese business leaders including Mr. Yasushi Kimura, President of JX Nippon Oil & Energy Corporation, and member of the Japanese Business Federation (KEIDANREN), which has a membership of 1,309 companies, 112 industrial associations, & 47 regional economic organizations, as well as Mr. Hiroshi Saito, Honorary Advisor, Mizuho Financial Group, Co-Chairman of the Japanese-Kuwaiti Businessmen Committee. Kuwait’s Ambassador to Japan, H.E. Abdulrahman Al-Otaibi, and Minister at the Japanese Embassy in Kuwait, H.E. Kazuhiro Nakai, joined in the official meetings. A business seminar was organized by the Japan Cooperation Center for the Middle East (JCCME) in collaboration with KEIDANREN to familiarize Japanese companies with the latest development in the Kuwaiti economy and to highlight recent developments. In the seminar, KDIPA’s Director General provided a detailed presentation, covering the new FDI Law No. 116 of 2013, the establishment of KDIPA, its goals and tasks, as well as the incentives and guarantees offered. The presentation also demonstrated the improvement in Kuwait’s business environment and potential investment opportunities under the upcoming second development plan (2015/16-2019/2020). The delegation also made inspection tours to several newly developed urban areas, like the Tokyo Metro, and commercial areas like the prestigious Marunouchi district, led by the Mitsubishi Estate company, and hosting 4,000 corporate offices contributing 20% of Japan’s Gross Domestic Product (GDP). At the conclusion of the visit, Sheikh Dr. Meshaal Jaber Al-Ahmad Al-Sabah expressed his thanks and appreciation to the Japanese authorities for a well planned visit. He emphasized the strength of the long standing Kuwaiti-Japanese relations, and welcomed the Japanese investors to Kuwait to bring the know-how, technology and innovation, which will add value and contribute to the diversification efforts of its domestic economy.
