Foreign investment in Kuwait: wide-ranging privatization unlikely to move forward soon

Article Abstract:

Foreign investments in Kuwait remains sluggish as several foreign investors continue to be apprehensive with the country's investment policies. Privatization of government properties in Kuwait continues to be slow despite implementation of a privatization program by the Kuwaiti government. Investment incentives related to import duties and corporate income taxes exemptions, on the other hand, apply only to industrial projects approved by the Council of Ministers. Implementation of foreign investment restrictions continue, such as limitation of foreign ownership in joint ventures to 49 percent.

Economic Programs, Administration of Economic Programs, Beliefs, opinions and attitudes, Privatization, Privatization (Business), Investors

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Kuwait's new law on foreign investment: a brief overview

Article Abstract:

The Decree Law No. 10 of 1999 illustrates Kuwait's effort to revitalize its economy. The law, which was published in the June 6, 1999 edition of 'Kuwait Al-Youm,' intends to lessen the amount of Kuwaiti private capital sent overseas in search of investment opportunities. It also empowers the Ministry of Commerce and Industry to allow up to 100% foreign ownership of Kuwaiti firms. Such percentage in contrast to the existing law which allows only a maximum of 49% foreign ownership.

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Kuwait: progress on draft foreign investment law...

Article Abstract:

Kuwait's Cabinet granted its initial endorsement on May 31, 1998 to a draft legislation on foreign investment which would boost the interest that foreigners may own in domestic companies. US officials in Kuwait expect the Cabinet to pass the legislation in its final arrangement immediately. The draft legislation includes foreign investment in Kuwait and covers measures easing limitations on foreign ownership in commercial companies.

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