Foreign direct investment figures in Kuwait
Kuwait has always been a country open to foreign investment and with the introduction of new laws in recent years, the country is even more open to foreign capital and expertise. In early 2003, a new law for FDI came into force. It allows 100% foreign ownership in a number of sectors. This law also makes available a number of tax breaks and other benefits which can attract new investors who in return must guarantee a set of quotas regarding the employment of Kuwaiti nationals.
The current policy to promote FDI focuses on a number of sectors which can benefit most from foreign investment and expertise. These include infrastructure investment such as water, waste-water treatment, power, and communications. Kuwait also tries to promote investment in the banking and financial sectors: investment aid, insurance, information technology and software development. Investment in hospitals and pharmaceuticals is also favored. Authorities are also keen to attract foreign capital into other sectors such as land and sea freight, tourism, real estate and urban development. A financing plan of USD 100 billion has in fact been approved by the Parlament in 2010. This project aims to develop infrastructure (highways, railways, subway) and should leave more space for the private sector.