PAI renews contracts in former Shuwaikh trade zone

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KUWAIT CITY, July 13: According to informed sources, the Public Authority for Industry (PAI) has started renewing investor contracts in the former Shuwaikh Free Zone (Future Zone) in a step that is considered the first of its kind since 2017, reports Al-Rai daily. They explained that the authority has already begun handing over contracts to investors who meet the specified conditions, including those related to all financial requirements due to the concerned authorities, in exchange for the use of their plots, either in terms of payment for usufruct, or for consumption of electricity and water.

The sources affirmed the continuation of their renewal for all contracts of the region amounting to 117 contracts. They explained that the start of the renewal of the contracts of the investors of the former Shuwaikh Free Zone (the future zone) constitutes a major investment turning point for the region, as it will be reexploited to ensure its operation and benefit from it. The delivery of the contracts of the zone’s investors depends a lot on increasing financial fl ows to it, either as renewal or to expand its business. The authority appealed to all investors of the former Shuwaikh Free Zone (Future Zone) to complete all financial and administrative procedures required to receive their new contracts.

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