KDIPA attracts KD 195.3 million in direct investments for FY 2022/23

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KUWAIT CITY, Oct 30: Kuwait’s Direct Investment Promotion Authority (KDIPA) issued on Monday its report for the fiscal year 2022/2023, a routine measure the body takes as part of its contributions towards national development plans.
KDIPA has managed to lure direct investment of up to KD 195.3 million (USD 630 million), the report showed, attributing the sum to its efforts to promote initiatives aiming to usher in development and investment.
The cumulative volume of investments since the body’s inception had risen to nearly KD 1.4 billion (USD 4.5 billion), added the report, saying the figure includes foreign investments coming from 26 countries around the world, most of which entail the service sector.
On the economic impact triggered by licensed economic firms, the report showed an increase of 15 percent as compared to the previous period, with a cumulative sum of KD 795.4 million (USD 2 billion).
On KDIPA’s primary objectives, he said boosting human capital remains the focal point of the body’s long-term strategies, in addition to its efforts to ensure that KDIPA’s plans and policies fall in line with globally recognized practices. (KUNA)

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