"Investment Promotion" registers 46 new offices and companies

Kuwait officials have restricted 46 companies and offices from the register of companies and offices approved by the Direct Investment Promotion Authority (DIPA) to submit applications on behalf of investors, for a period of one year from the date of issuance of the registration certificate. The Authority’s Director General, Sheikh Dr. Meshal Al-Jaber, issued Decision No. 279 of 2023, which was published yesterday in the Official Gazette (Kuwait Today). Article One of the decision stipulates the renewal of registration for companies and offices in the register of companies and offices approved by DIPA to submit applications on behalf of investors, for a period of one year from the date of issuance of the registration certificate.

The decision was issued based on the recommendations of the Advisory Committee for Registration of Companies and Offices at DIPA, as outlined in its memorandum, and in accordance with the regulations governing the registration and approval of companies and offices to submit applications on behalf of investors before DIPA. It was also based on a proposal from the Deputy Director General of the Investment Operations Sector and the General Secretariat, as well as Law No. 116 of 2013 concerning the promotion of direct investment in the State of Kuwait.

Article Two of the decision stipulates that: “The competent authorities shall implement this decision within their respective jurisdictions, and it shall take effect accordingly.” The decision was also issued in reliance on Decision No. 502 of 2014, which issued the Executive Regulations of Law No. 116 of 2013 concerning the promotion of direct investment.