imported 2024-03-17 17:43:07
Kuwait Economy, Kuwait minister of commerce and industry, His Excellency Ahmad Al-Haroun – Video Interview
There hasn’t been a better time to invest in Kuwait. As I have previously mentioned, Kuwait ranked 27th globally in the “Protecting Investors Index”(invest in Kuwait) that was issued by the World Bank, which is better than most OECD countries.
Kuwait concentrates now more on laws to attract to Kuwait foreign investments. For example, Kuwait Foreign Investment Bureau law gives benefits towards foreign investors who brings to Kuwait foreign investments such as: tax holidays for up to ten years, total or partial exemption from customs duties, and 100 % full ownership (The Kuwaiti Law normally request 51% to be owned by a Kuwaiti citizen). All these benefits make Kuwait definitely more attractive bring to Kuwait foreign investments and for foreign investors.
Interview with Mohammed Jassim Al Wazzan. Mezzan Holding see itself as playing a major role in industries. This is where as Mezzan Holding, we are looking and it is a very long term vision that will come about as a result of strong investments. Mezzan holding is looking for international partners. For example, in Bahrain we are looking into the napkin industry on the consumer end. Mezzan holding wants to grow our product lines into the industry and we would be willing to cooperate with major companies. We plan to stay in the GCC region in terms of our expansion because there is a lot of opportunity for growth.
Interview with Abdul Aziz Al-Mazooq. Muthanna Investment Company business model is based on a pure Islamic investment banking model focusing on Islamic investment banking activities including transaction advisory services, private equity transactions, real estate investments, and asset management activities like brokerage, equity research, and management of discretionary accounts. It is a basic model Islamic investment banking model, the only thing that keeps Muthanna Investment Company going is focusing on several dimensions at once.
Interview with Mazen Madooh, General Manager of National Offset Company. National Offset Company is looking for serious investors that will be forthcoming with ideas or concept papers to establish successful offset ventures benefiting the contracted government body (like Ministry of Defence or Ministry or Electricity & Water), which we classify as direct offset, or partner with Kuwait Investment Partner be it Kuwait private sector partner or civil entities in an indirect offset project. Both must ultimately achieve the Kuwait offset Program Goals, stated earlier (transfer of technology, job creation, and training opportunities for Kuwaitis).
Interview Sami Al-Rushaid. The Kuwait Oil and Gas 2030 strategy for Kuwait Oil Company calls for four million barrels a day capacity for production that is to be sustained between 2020-2030. For non-associated gas Kuwait Oil Copmany plans to produce one billion standard cubic feet per day by 2015. The additional exploration activities in Kuwait oil fields will hopefully allow Kuwait Oil Company to produce another 1.5 billion cubic feet per day to total 2.5 billion standard cubic feet per day by 2030. This is the vision for Kuwait oil and gas and for Kuwait Oil Company.
KAMCO is one of the top 5 investment and asset management companies in Kuwait. CEO of KAMCO, Sadoun A. Ali, talks about KAMCO’s investment strategy and challenges. KAMCO is also a part of KIPCO – one of the largest diversified companies in Kuwait. (Their subsidiaries include companies such as Gulf Insurance, for example.)
Muthanna Investment Company K.S.C.C. (“MIC”) started business in mid 2004 as an investment company carrying on business in accordance with the Noble Sharia. The Company’s roots extend ack to 1977 when its Parent, Kuwait Finance House “KFH”, was the first Islamic finance institution in Kuwait..
Interview with Khalid Hamdan Al-Saif. For Kuwait to make decisions like other nations who have decided to diversify their income away from oil, Kuwait will need concrete steps in order to preserve this way of life for our children and their children. The role of Kuwait oil in Kuwait economy is very strong and, I personally feel more should be done in Kuwait to diversify the income away from oil in order to secure better future for Kuwait.
Interview with Hamad Abdullatif Al Falah. Kuwait Airways is a diamond, and whoever buys with Kuwait Airways will be a winner. We have the best pilots, engineers, technicians, and training center that serves many Arab countries. Kuwait Airways is ahead of our competitors with regard to all of these aspects. Kuwait Airways is at the end now because our aircraft are older and smaller in number. If we have a bigger number of aircraft we can offer more destinations and with newer aircraft we will be more competitive and we can capture more of the market.
