ANNOUNCEMENT 29 May 2013In May 2013, the government of Kuwait announced changed incentives for foreign investors entering the country.
NUMBER OF INTERVENTIONS
Kuwait National Assembly, law no. 5937/2013 (in Arabic): http://kna.kw/legattachments/legislative/sub%20legislative2012/legislative-40.pdf
Kuwait Foreign Investment Bureau, News May 30, 2013 (in English): http://www.kfib.com.kw/NewsArchive.aspx
Kuwait Times, May 30, 2013, 'Assembly approves laws on investment authority, prices': http://news.kuwaittimes.net/2013/05/29/assembly-approves-laws-on-investment-authority-prices/
On May 29, 2013, the Kuwait National Assembly passed a law that replaced its national foreign direct investment (FDI) office with a new public authority, of which the main goal is to promote FDI and remove barriers to FDI. Kuwait will use a negative list of sectors in which FDI is excluded rather than judging each individual project, thus providing more predictability. In addition, the deadline for delivering the FDI approval will be shortened to 30 days, and in general the new authority will act as a one-stop-shop for foreign investors. The new agency is expected to be fully functional in six months.