4 economic and free zones to boost investment opportunities in Kuwait
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Annual report reveals progress in developing economic zones in Salmiya and Al-Nuwaybisat Free Zone, with increase in approved investment entities
Translated by Qiyas from الأنباء — Original source
The annual report of the Direct Investment Promotion Authority revealed progress in the development of the Al-Abdali and Al-Awair economic zones, alongside ongoing preparations of the Nuwaisib Free Zone and Al-Nuaimiyat Economic Zone, as well as the development of the Salmiya Technology Innovation Center and the availability of strategic commercial land for new investment opportunities.
The report noted the continuation of planning, approvals, financing, and project preparation for tendering, with the aim of enhancing their readiness for investment and private sector participation.
On the other hand, the annual report stated that the cumulative number of approved investment entities reached 122, distributed by legal form into 80 Kuwaiti companies, accounting for 65.57% of the total, 40 branches of foreign companies at 32.79%, and two representation offices at 1.64%.
Data from the Direct Investment Promotion Authority showed that licensed investment entities implemented 832 training programs for capacity building and knowledge transfer, along with 116 sustainability initiatives supporting 15 of the United Nations Sustainable Development Goals, as part of the activities carried out by these entities alongside their capital investments.
