KDIPA renews MoU with Oxford Business Group
KUWAIT: The Kuwait Direct Investment Promotion Authority (KDIPA) has renewed its memorandum of understanding (MoU) with OBG as a primary partner for the publishing firm’s forthcoming report on the country. Under the MoU, the authority - a longstanding partner of the group - will facilitate OBG’s research and interviews with high-ranking officials and private sector leaders for The Report: Kuwait 2018.
Kuwait’s bid to attract more international companies to the country by overhauling its economic laws will be analyzed in a report by the global publishing firm Oxford Business Group (OBG). The Report: Kuwait 2018 will shine a spotlight on the country’s huge project pipeline, while analyzing the part that a new public-private partnership (PPP) framework and efforts to reduce bureaucratic procedures are playing in boosting investor interest.
Sheikh Meshaal Jaber Al-Ahmad Al-Sabah, Director General of KDIPA, said efforts to increase the role of the private sector in the economy and create job opportunities for future generations of Kuwaiti nationals continues to yield results.
“Kuwait’s push to expand the non-oil sector as part of the country’s long-term economic roadmap, Vision 2035, is gaining place, as can be seen by the increased focus on knowledge-led activity and innovation,” he said. “I look forward to supporting Oxford Business Group’s research into these and the many other developments taking place across the country’s evolving economy, which I hope will be of significant interest to investors.”
The publication will also explore the sectors of the economy that are both ripe for growth and supporting the government’s diversification efforts, such as IT, education, healthcare and downstream activities. In addition, The Report: Kuwait 2018 will track the growing number of firms that are taking advantage of the 100 percent foreign ownership and majority share rules now in place, while considering the impact that the reforms have had on the local economy.
OBG’s Country Director Jennifer Poole said she was delighted to be teaming up once again with KDIPA, adding that the authority’s in-depth knowledge and understanding of Kuwait’s investment landscape had helped to give the group’s coverage an edge over the years.
“Investor interest in Kuwait is rising, with industry players across the sectors keen to discover more about the country’s openings, which range from megaprojects to research opportunities in ICT,” she said. “The Kuwait Direct Investment Promotion Authority plays a pivotal part in raising the country’s profile on the international stage and providing foreign firms eyeing the country with the information they need on key issues, such as ownership rules. I’m thrilled that both our team and readers will once again benefit from its experts’ valuable input.” The Report: Kuwait 2018 will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments. The publication will contain a detailed, sector-by-sector guide for investors, alongside contributions from leading personalities. The report will be available in print and online.