KDIPA issues an Investment License to establish “GE Kuwait Technology Center”

Kuwait Direct Investment Promotion Authority (KDIPA) issued an Investment License to the global company “General Electric” “to establish the “GE Kuwait Technology Center” as a limited liability Kuwaiti Company, benefiting from the incentives and exemptions granted by Law No. 116 of 2013 regarding the Promotion of Direct Investment in the State of Kuwait. The “GE Kuwait Technology Center” will be one of the first of its kind outside the United States, with an expected investment value of KD 25 million. The Centre aims to encourage R&D in the energy generation sector in Kuwait, provide simulators and testing labs, encourage finding solutions and maintenance services, offer operational training and comprehensive programs for capacity building of Kuwaitis, and develop export-oriented tooling solutions given the special nature of Kuwait’s climate, thus adding to enhance the advancement of its energy sector, and promote national exports to the regional markets, which will further foster Kuwait’s competitiveness. Dr. Meshaal Jaber Al-Ahmad Al-Sabah, KDIPA’s Director General, welcomed the initiative of GE to support Kuwait’s energy sector by establishing this unique state-of-the-art center. He expressed KDIPA’s resolve to continue providing all the needed aftercare and facilitations to ensure that such value added investments are operating seamlessly and successfully, to contribute to the achieving our aspired developmental goals, the diversification of the economy, and advancing R&D and innovation capabilities.