Company reinforces IT and consulting services as Kuwait transitions to knowledge-based economy
Kuwait - IBM (NYSE:IBM) is expanding its presence in the Middle East by launching its first office in Kuwait. This will strengthen IBM's ability to provide solutions and services to a rapidly expanding base of customers and partners in the region. The new subsidiary is licensed by the Kuwait Direct Investment Promotion Authority (KDIPA) whose vision is to attract high value-added Direct Investment (Foreign & Local) to Kuwait to maintain sustainable economic and social goals fostering a knowledge-based economy and green technology.
Dr. Meshaal Jaber Al-Ahmad Al-Sabah, Director General of Kuwait Direct Investment Promotion Authority (KDIPA), said: "The Kuwaiti government recognizes the central role that IT plays in the diversification of the economic base of the country to achieve Kuwait's 2035 national vision, and streamline its transition to a sustainable knowledge-based economy. We strongly believe that IBM will continue to enhance its role in supporting the modernization of Kuwait's IT sector with its global outreach and locally attuned expertise." He added that "KDIPA is keen to deliver on its promise to welcome and support establishing such high value-added investments."
Kuwait holds the world's sixth biggest proven reserves of oil and oil extraction accounts for 40 percent of GDP. It is also the fifth richest country in the world in per capita GDP and has an advanced information technology sector bolstered by one of the highest mobile and smart phone penetration rates in the Middle East. IT spending in Kuwait continues to climb, expected to be USD$1.1 billion (KWD332 million) in 2015, up 4% from 2014 .
"As part of IBM's continued geographic expansion to increase its presence in key growth markets around the world, our Kuwait office will enable IBM to increase its level of service to clients across the region and to deliver high-value solutions for their business. The Kuwait Direct Investment Promotion Authority has been a key supporter in facilitating IBM's presence in the country," says Amr Refaat, General Manager, IBM Middle East and Pakistan. "We believe that Kuwait is a particularly important geography within the Middle East given a diversifying economic landscape and the continued maturity of the country's IT sector."
IBM's Kuwait office is part of a broad program of investment that IBM is making across the Middle East. The new office will act as a sales and customer service hub for IBM's comprehensive line of offerings in the region with a focus on Study and Research, Professional Services, Systems Integration and Facilities Management Activities. IBM will be offering key solutions in Cloud, Social, Mobile, Big Data and Security to organizations in Kuwait. IBM's focus will be transforming industries and professions with data, remaking enterprise IT for the era of cloud and reimagining work by helping clients to build systems of engagement underpinned by the imperative of security.
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About IBM
IBM is the world's largest IT and consulting services company, operating in over 170 countries. IBM's first presence in the Middle East dates back to 1947 in Saudi Arabia. The company has been expanding in the Middle East and Africa in recent years with the opening of offices in countries including Saudi Arabia, Qatar, Angola, Nigeria, Kenya, Senegal and Tanzania. IBM works closely with leading educational institutions and governments and has led groundbreaking regional initiatives and development partnerships in the fields of cloud computing, nanotechnology, desalination, solar power and e-Government across the region.
For more information on IBM, please visit:
www.ibm.com
IBM Media Contact:
Jumana Akkawi
External Relations Leader,
IBM Middle East
Direct: +971 4 4498353
Email: jumanaak@ae.ibm.com
About KDIPA
Kuwait Direct Investment Promotion Authority (KDIPA) was established as an independent public authority in accordance with the new Law No. 116 of 2013 regarding the Promotion of Direct Investment in the State of Kuwait, which repealed its predecessor Law No. 8 of 2001 regarding the Regulation of Direct Investment of Foreign Capital in the State of Kuwait. KDIPA aims to promote both foreign and local direct investment in the country, servicing investors, improving the overall investment climate, fostering competitiveness, and encouraging more engagement in value added investment opportunities. KDIPA launched its operations on December 29, 2014, and its Negative list which identifies the sector that are closed for direct investment on February 14, 2015.
For more information on KDIPA, please visit:
http://www.kdipa.gov.kw/
KDIPA Media Contact:
Email:
info@kdipa.gov.kw
© Press Release 2015
