Oxford Business Group signs Memorandum of Understanding with Kuwait Foreign Investment Bureau for 2013 report
Kuwait, 17 February 2013: Kuwait's plans to tap investment for a raft of infrastructure projects in line with its aim to shift the economy away from a reliance on hydrocarbons will be put under the microscope in a forthcoming report to be published by the global publishing, research and consultancy firm Oxford Business Group (OBG).
The Report: Kuwait 2013 will explore the major opportunities which the country's plans are set to generate for investors, including work on roads and ports, the expansion of Kuwait International Airport, a transportation network linking Kuwait to other GCC countries and an offshore tourism resort. It will also shine the spotlight on Kuwait's long-term roadmap for economic expansion, the National Development Plan (NDP), providing detailed analysis of the country's progress in laying the groundwork for diversifying its economy.
OBG has once again signed a Memorandum of Understanding (MOU) on research facilities with the Kuwait Foreign Investment Bureau (KFIB) in preparation for the Group's new project. Under the MOU, OBG will benefit from bureau's expertise and available research which will be used in the compilation of data for The Report: Kuwait 2013.
OBG's Regional Editor Oliver Cornock said that while political wrangling between the government and opposition delayed many of Kuwait's projects last year, planned public funding for infrastructure on the back of record economic growth, together with the appointment of a new National Assembly, should shore up the country's efforts to attract more investment.
"While Kuwait's internal politics have hampered the political process, the country is strengthening its bid to cultivate a positive investment environment and galvanise private sector involvement through new legislation and planned reforms," he said. "Our forthcoming report will highlight the new investment opportunities which are becoming available, including many that the international business community may not know about."
KFIB's Chief Sheikh Dr. Meshaal Jaber Al Ahmad Al Sabah highlighted the contribution that the bureau was making in improving Kuwait's competitiveness, streamlining its business environment and improving the country's position in international investment climate indices in line with broader efforts to boost investor interest. "The opening of our Investors Services Centre sends a positive signal to foreign investors by enhancing the adoption of a customer service culture approach," he said. "I look forward to once again working with Oxford Business Group to relay the progress Kuwait has made in enhancing its business climate through improved investor facilitation engaging various concerned government entities, especially as the country prepares to roll out a wave of mega projects."
Country Director Caroline Nguyen said she was delighted that OBG would once again benefit from the KFIB's input. "The Kuwait Foreign Investment Bureau plays a key part in relaying the country's investment opportunities on a global level, while also producing data and analysis for business leaders to use in the decision-making process," she said. "I'm confident that our collaboration with the bureau will once again prove immensely useful as we begin work on this exciting, new project."
The Report: Kuwait 2013 will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments. The publication will be available in print or online.
About Oxford Business Group
Oxford Business Group (OBG) is a global publishing, research and consultancy firm, which publishes economic intelligence on the markets of the Middle East, Africa, Asia and Latin America. Through its range of print and online products, OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments, including banking, capital markets, insurance, energy, transport, industry and telecoms. The Report: Kuwait 2013 is produced with research assistance from KIPCO Asset Management Company, Al Tamimi & Co., and Kuwait Foreign Investment Bureau.
The critically acclaimed economic and business reports have become the leading source of business intelligence on developing countries in the regions they cover. OBG's online economic briefings provide up-to-date in-depth analysis on the issues that matter for tens of thousands of subscribers worldwide. OBG's consultancy arm offers tailor-made market intelligence and advice to firms currently operating in these markets and those looking to enter them.
About Kuwait Foreign Investment Bureau
Kuwait Foreign Investment Bureau (KFIB) was established in 2001 as a division within the Ministry of Commerce& Industry in accordance with Law No. 8/ 2001 dealing with regulating direct foreign capital investment in the state of Kuwait. It became operative in 2003, and till the end of 2011 the total investment value of investment applications reached around 1.77 Billion KD, and the approved and licensed project totaled more than 600 million KD, mostly concentrated in the industrial sector, with a share of more than 91%. KFIB seeks to develop internal capabilities of its staff to enable them to achieve its mandate of attracting foreign direct investment that will enhance technology transfer, provide job opportunities and training, and support the domestic private sector.
For more information please contact:
Oxford Business Group, Dubai,
PO Box 502 659, Dubai, UAE
Amna Al Jarery
Action Kuwait
+965 2491 5616
Amna.j@actionprgroup.com
For more information please contact:
Kuwait Foreign Investment Bureau,
Kuwait, P.O.Box 3690, Safat 13037,
Kuwait.
website: www.kfib.com.kw
© Press Release 2013
