Kuwait Attracts Investments Worth $ 3.5 billion

  • Kuwait, State of Kuwait
  • 30 November 2018

The Kuwait Direct Investment Promotion Authority has attracted about $ 3.5 billion in foreign capital in the past three years.
KDIPA was established in 2015 to encourage direct investment and develop a new strategy to attract investors by focusing on specific sectors of ICT, maintenance, healthcare, and renewable energy.
KDIPA works within an ambitious plan launched by Kuwait to boost the country's development and diversify the economy away from dependence on oil, the main source of income, which currently accounts for more than 90 percent of revenues. Since its inception, Kuwait Direct Investment Promotion Authority has granted about 22 licenses to foreign entities and companies to operate in the country. Investment companies have the right to own up to 100%, including three Turkish companies currently working in the field of constructions and holding 100%. They are implementing major projects in the country's development plan, including the new Kuwait International Airport.

Source: (Al-Arabi Al-Jadeed Newspaper, Edited)