combined EFFORTS

KDIPA’s focus is to ensure a streamlined business environment and further develop its service delivery and facilitation to better promote investment in the country.

Given that eveloping the private sector is key to Kuwait’s Vision 2035, how do you assess COVID-19’s impact on accelerating these plans?

The current situation is still fluid and it is difficult to fully assess the magnitude of the impact on the economy and the private sector; however, measures to address the social changes and economic situation have been set by the government and continue to change to support the country’s resilience. Kuwait National Vision 2035 continues to be KDIPA’s roadmap, and we continue to support the private sector taking the lead in economic activities to foster the country’s competitiveness and nurture the innovation ecosystem to ensure a sustainable future for generations to come.

Could COVID-19 be seen as the tipping point for Kuwait to progress significantly in its digitalization process?

The unexpected outbreak of COVID-19 played a catalyst role to speed up embracing new digital channels such as developing needed e-applications, delivering government e-service, utilizing e-commerce, managing virtual teams, and holding online events and meetings. In Kuwait, the profound and advanced ICT industry base continues to support the pivoting digital transformation with an accommodating regulatory and legislative framework as well as the presence of public institutions like CITRA, CAIT, and others. There is also a large talent pool of technologically savvy young people who comprise more than 60% of the population pyramid. In addition, the majority of KDIPA’s cumulative approved direct investment from the ICT sector reinforces the market demand for this sector.

Which efforts would you like to highlight with regard to ensuring Kuwait emerges from this crisis as an enhanced ecosystem for business and investment?

From the start of the pandemic, KDIPA launched a COVID-19 response team to support its partners and disseminate relevant updates through multiple online outlets. KDIPA particularly stayed the course on strengthening the delivery of its facilitation and aftercare services to all its existing and interested investors by maintaining open lines of communication. A dedicated hotline was also established to answer forthcoming inquiries about business conditions in Kuwait. Furthermore, the KDIPA board of directors approved support measures to initially alleviate the impact of COVID-19 for both existing investors and interested new investors that includes income tax and customs duties exemptions, a grace period for starting operations and reporting, as well as reducing KDIPA fees across the board by 50%.

How is KDIPA supporting both its own human talent and employees in Kuwait more broadly?

At the country level, human capital has always been an important factor in Kuwait’s unique value proposition. #TeamKDIPA is our fundamental asset. We have always been keen, and now even more so under COVID-19 pandemic circumstances, to offer an enabling environment to ensure continuous learning and career path development to acquire new skillsets and competencies to ensure excellence in performance. The COVID-19 closures required the team to work remotely, which was not an issue as the digitalization infrastructure at KDIPA has already been set in place. This enabled the team to utilize various programs and applications to ensure work is progressing uninterrupted and efficiently from home with 24/7 technical support if needed. Furthermore, there are online training opportunities for KDIPA employees to participate in to encourage them to take this time to upskill and continue to develop their skillsets.

Looking ahead, what is the best way Kuwait can bounce back, and how would you like to see Kuwait reopen?

Kuwait is currently implementing a fivestage relief and recovery program, which allows for a gradual return to work in both the public and private sectors as well as opening the economy. We will continue to cater to existing and potential investors and seek to resolve any issues unsettled or that need to be adequately addressed. Moreover, we are preparing for a fully fledged, accommodating investment promotion strategy, identifying investment opportunities, adapting to the best policy and promotion framework, extending our economic benefit model, creating more integrated linkages between investors, and addressing local supply chain needs, as well as resuming our advocacy role.