KDIPA participated in the Korea – Kuwait Business Forum held in Seoul

Kuwait Direct Investment Promotion Authority (KDIPA) participated in the Korea-Kuwait Business Forum held in the South Korean capital Seoul on 2-4 November, 2015. Kuwait’s official delegation was headed by the Second Deputy Chairman of the Kuwait Chamber of Commerce and Industry (KCCI) Mr. Abdulwahab Al-Wazzan, and consisted of various representatives of government agencies and the private sector. Mr. In-Ho Kim, Chairman & CEO of Korea International Trade Association (KITA), gave the opening ceremony speech. KDIPA representative Mr. Mohammed J. Al-Sabbagh, Head of Investors Services Section, provided a presentation on the unique attributes of Kuwait’s investment climate, the evolving favorable legislative and legal framework for doing business, incentives and guarantees granted under Law 116 of 2013 especially allowing for foreign ownership up to 100%, and the various facilitation services and aftercare provided to KDIPA’s clients, the investors. The forum witnessed the attendance of more than 100 officials and interested investors from both countries, aiming at enhancing the bilateral economic relations and increasing the participation of Korean companies in the strategic projects in Kuwait under the second development plan especially in transport, roads, and metro. Kuwait and South Korea enjoy strong commercial relations, as South Korea jumped to the top position as Kuwait’s main exporting destination recording a total of $ 16.9 billion.