KDIPA looking forward to extensive investment forum

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KUWAIT CITY, Jan 16, (Agencies): The Kuwait Direct Investment Promotion Authority (KDIPA) is hard at work to complete the organizational requirements and measures for its first investment promotion forum, KDIPA said in a statement on Saturday. KDIPA is keen that the pivots of the Kuwait Investment Forum, slated for March 8-9, be comprehensive so as to reflect the positive transformations the country has been going through, as the current mid-term development plan is entering its second year, it added.

The forum agenda has been prepared, together with topics of each session, according to the statement. The forum will be concluded with an open session on the “future of investment for sustainable development.” In addition, participants will review successful experiences of foreign companies that have been investing in Kuwait recently, making utmost benefit of the advantages and exemptions offered by Law 116/2013 on promoting direct investment.

Topics to be covered by the forum discussions include bases and prospects of economic and development policy; Kuwait’s advantages as an attractive investment destination; legislative developments to support investment environment; safeguards of direct investment; and the role of small and medium size enterprises(SMEs). According to the statement, the fourth session will be the longest, devoted to reviewing a multitude of available and promising investment opportunities in Kuwait.

Meanwhile, the Secretariat General of the Supreme Council for Planning and Development has submitted its report on the implementation of the development plan to the Ministers Council for discussion within two weeks, reliable sources told Al-Qabas daily.

Sources revealed the report focused on the achievements in terms of the execution of the development plan in the third quarter of fiscal 2015/2016. Sources confirmed the report includes the initial percentage of implementation for some projects from October to December last year, in addition to causes of delay in certain projects. Sources said the percentage of implementation increased remarkably after the distribution of some housing units and opening of Razi Hospital.

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