Kuwait: The Kuwait Investment Forum (KIF 2018) concluded in Kuwait City on a resounding note of optimism among global investors in the investment landscape of the country, underpinned by the government’s commitment to reforms and investor-friendly politics.
At the closing dialogue on ‘Kuwait Development Path: The Vision & The Determination’, H.E. Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah – Deputy Prime Minister & Minister of Foreign Affairs; H.E. Mr. Anas Khaled Al-Saleh, Deputy Prime Minister and Minister of State for Cabinet Affairs; and Sheikh Dr. Meshaal Jaber Al-Ahmad Al-Sabah, Director General, Kuwait Direct Investment Promotion Authority (KDIPA), addressed the audience.
Several projects were highlighted at KIF 2018 that presented an overview of the multibillion dollar investments and strategic partnerships that the country offers, led by its Vision 2035 for a New Kuwait.
H.E. Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah said Kuwait is keen to strengthening its security and stability because that serves as the incubator to prosperity and development. H.E. added that the Ministry of Foreign Affairs focuses on economic diplomacy based on the vision of H.H. the Amir of Kuwait to be a commercial and financial hub, stressing on the need to harness the country's potential and energies to implement this vision. Kuwait's foreign policy is characterised by moderation and stability, as one of its main pillars is "preventive diplomacy," as well as in resolving disputes peacefully and enhancing the role of international organisations, especially the United Nations and the UN Security Council.
H.E. Mr. Anas Khaled Al-Saleh said Kuwait focuses on regulatory reforms that has helped in enhancing its global ranking in the ease of doing business and in economic competitiveness. The growth in number of companies and infrastructure investments are aimed at bringing a new era of progress for Kuwaitis, he said.
Sheikh Dr. Meshaal Jaber Al-Ahmad Al-Sabah expressed his deep appreciation and gratitude on behalf of the Kuwait Direct Investment Promotion Authority (KDIPA) and the Kuwait Chamber of Commerce and Industry (KCCI) to His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, who graced this forum with his attendance.
He also praised the participation of senior state officials, local and foreign investors, industry leaders, and financial institutions was crucial in the success of KIF 2018.
He also thanked the sponsors of the event - Kuwait Finance House, National Bank of Kuwait, United Steel Industrial Company (Kuwait Steel) and Zain Telecommunications, Ali Alghanim & Sons Group – all Diamond Sponsors; and Kuwait Foundation for the Advancement of Sciences (KFAS), Kuwait Petroleum Corporation (KPC) and Al Markaz – all Platinum Sponsors; for their support to the Forum, which enabled the event to achieve its main objectives. He expressed his gratitude to all the speakers and guests for their wholehearted cooperation and participation.
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About
Under the patronage of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, the second edition of the Kuwait Investment Forum (KIF2018) to be held March 20 and 21, 2018, at the Jaber Al-Ahmad Cultural Centre (JACC), Kuwait City, supports the concerted efforts to boosting Kuwait’s economy and improving its business competitiveness.
The two-day forum is co-organised by the Kuwait Direct Investment Promotion Authority (KDIPA), and the Kuwait Chamber of Commerce and Industry (KCCI). It aims to reaffirm the government’s interest in promoting and facilitating value-added investments into Kuwait’s dynamic market, which focuses on the private sector leading economic activity, innovation and competitiveness.
Supporting the Kuwait Vision 2035, KIF 2018 will provide an interactive platform that brings together high-ranking government officials, local and foreign investors, industry leaders and executives, consultants and financial institutions, to showcase developments that underline Kuwait’s business environment, investment opportunities, and emerging trends.
About Kuwait Business Climate:
Among the drivers of Kuwait’s investment landscape are its central location, effortless connectivity, high quality of life, modern infrastructure, robust legal framework, strong macroeconomic fundamentals, sound banking system and low political risk. Kuwait ranks 30 of 137 countries for its overall macroeconomic environment, as per the World Economic Forum Global Competitiveness Report 2017-18, in addition to being ranked as the world’s third most attractive tax regime.
The country ranks 96th in the World Bank Ease of Doing Business Report, higher than the Middle East average, and has an Economic Freedom Score of 62.2, making it the 5th freest in the region. With its uniquely democratic and stable government, Kuwait benefits from a National Constitution that embraces liberal, democratic values.
© Press Release 2018
