German Investors Urged to Invest in Kuwait

Undersecretary of the Ministry of Commerce and Industry Abdul Aziz al-Khalidi urged here on Tuesday foreign investors to exploit the privileges granted by the Kuwaiti law for foreign investors wishing to invest in the Kuwaiti market in various sectors. Al-Khalidi told Kuwait News Agency (KUNA) following a meeting with a German economic delegation that Kuwaiti law gives foreign investors tax-free investment up to a period of 10 years, to be followed by a tax rate of only 15 percent, in addition to giving investors the right to own projects by 100 percent. He added that Kuwait had in recent years carried out many of the economic reforms that contributed to the implementation of the desire of His Highness the Amir to transfer Kuwait into a regional financial and trade center capable of attracting investors and foreign companies through foreign investment law and other economic laws. Al-Khalidi welcomed the visit of the German economic delegation, which included a group of businessmen, praising the depth of economic and trade relations between the two countries.

He pointed out that both parties seek to strengthen and develop economic partnership between them. He said that Kuwait is an attractive investment environment because of its strategic location and investment-luring laws, urging German businessmen to invest in Kuwait and exploit the investment opportunities available to them. He pointed to the importance of convening the joint trade committee between Kuwait and Germany on a regular basis because of its significant role in the development of trade relations between the two countries, stressing interest of the Kuwaiti side to convene its meetings continuously In turn, Dr. Svern Halldorn, Head of the Directorate General for Technology Policy hailed the bilateral ties that combine the two friendly countries, stressing the importance of exchanging visits between the two sides for the sake of promoting economic partnership between them.