10- April- 2013 , The Minister of Commerce and Industry, Chairman of Foreign Capital Investment Committee (FCIC) that supervises Kuwait Foreign Investment Bureau (KFIB), Anas Al-Saleh, announced the completion of deliberations on the new draft law to establish a public entity for direct Investment by the Economic and Financial Parliamentary Committee in its last session that was held on Monday 8th April 2013 in full coordination with the Ministry team. The new draft law will be referred to the Parliament for final approval in its the next session. The Minister confirmed that the stipulation of the new law will be conducive to establish value added investment projects in the country. He also clarified that the new law will serve both the local and the foreign investors and will enable creating jobs and providing needed training opportunities for Kuwaitis. One of the welcomed reforms brought about by the new law is to shorten the time taken to process the investment applications to 30 days and establish a one stop shop to streamline the procedures to establish projects that are expected to foster the transfer and settlement of modern technologies and adopts advanced systems. The Ministry’s team was composed of the Minister of Commerce and Industry Mr. Anas Al-Saleh, KFIB Chief Sheikh Dr. Meshaal Jaber Al-Ahmed Al-Jaber Al-Sabah, and the accompanied team.
