13 INVESTMENT STRATEGY Kuwait is one of the most dynamic and fast-growing economies in the Gulf region, maintaining stable growth despite global economic challenges. Under the guidance of His Highness the Emir Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, Kuwait is pursuing its path towards a diversified, competitive, and knowledge-based economy. The country has launched several initiatives to strengthen its position as a regional hub for business and investment. Kuwait is actively developing an investor-friendly environment, making it easier for foreign companies to establish fully-owned projects across multiple sectors. The government has implemented streamlined procedures for company incorporation, licensing, construction permits, and other essential business operations. Investment Incentives • Tax exemptions: Non-Kuwaiti investors may be eligible for exemptions from income tax for a specified period. • Customs exemptions: Import duties may be waived on machinery, equipment, raw materials, or semi-finished goods essential for production that are not locally available. • Land allocation: Investors can acquire land for investment projects through long-term renewable leases. • Industrial incentives: Non-Kuwaiti investors in industrial projects may benefit from reduced or waived customs fees on imports critical to production. General Privileges • Investors can conduct private money transfers for their investments from abroad in any convertible currency at prevailing exchange rates. • Foreign direct and indirect investment is protected against expropriation or similar acts under Kuwaiti law. • Ownership of investments may be transferred between non-Kuwaiti or local investors. Through these measures, Kuwait aims to attract international investment, foster sustainable economic growth, and create a competitive business environment. Belgian and Luxembourg companies, in particular, can leverage these incentives to expand into the Gulf region and participate in the country’s ongoing diversification and development initiatives.
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