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Tuesday , November 29 2022

Kuwait to allow foreigners full ownership of companies

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KUWAIT CITY, Oct 11: Kuwait may allow foreigners full ownership of companies in a push to attract more investments and boost the economy, Arab News reports. Abdullah Al-Sabah, deputy director general for investment operations at Kuwait’s Direct Investment Promotion Authority, highlighted the possibility of such a move in an interview with Al-Arabiya on Sunday. Al-Sabah said in the last five years Kuwait managed to attract 1 billion dinars ($3.3 billion) worth of investments in different sectors particularly technology, health and procurement.