Kuwait Direct Investment Promotion Authority (KDIPA) participated in the 7th Bosporus Summit themed “Global Futures and Universal Goals” hosted in Istanbul, Turkey, in the presence of the President Recep Tayyip Erdogan of Turkey and the participation of official delegates that included heads of state, prime ministers, senior officials and businessmen from 70 countries including the State of Kuwait on November 29, 2016.
The Kuwait delegation was headed by the Minister of Commerce and Industry, H.E. Dr. Yousef Al Ali, and KDIPA was represented by the Director of the One Stop Shop Department at KDIPA, Sheikh Abdullah Sabah Al Sabah.
The three-day summit included 22 panels held under the auspices of “Looking Ahead: The Next 50 Years,” “Approach of the West towards Developing Countries,” the “New Silk Road,” “Governing Smart Cities,” “Women’s Empowerment for a Smart Economy,” the “Future of the Sports Industry,” “Renewable Energy,” and the “Contribution of Art on the Economy.”
The aim of this summit was to focus on a better future through cooperation with the principle of enhancing proactive multilateral and inter-disciplinary cooperation for sustainable development while taking a productive approach in tackling pressing issues and opportunities alike to reach a shared understanding of vital interests that will lay the common grounds for stimulating a new level of global cooperation amongst both the private and public sectors.
The State of Kuwait delegation ended their mission with a meeting with the Turkish Minister of Development Lutfi Elvan to discuss ways of reinforcing trade and investment between the two countries while also highlighting, lucrative investment opportunities in the State of Kuwait, KDIPA’s role in attracting direct investments as highlighted in Law No. 116 of 2013 and the incentives and exemptions offered to investors under this law.