Industry Authority approves 35 consulting firms to prepare economic feasibility studies

The Public Authority for Industry has approved a list of qualified consulting offices to prepare economic feasibility studies, comprising 35 offices distributed into two categories based on the investment value of the projects. The Authority clarified in the Official Gazette that the first category includes 14 offices qualified to prepare feasibility studies for projects with an investment value of 5 million Kuwaiti dinars or more, while the second category includes 21 offices for preparing feasibility studies for projects with an investment value of less than 5 million dinars. It noted that offices listed in the first category may provide feasibility studies for projects that meet the criteria of the second category. The Authority emphasized that audit offices are not permitted to provide audit services to the same client, its affiliated or subsidiary companies, or those involved in preparing the feasibility study, in accordance with professional standards to prevent conflicts of interest, for a period of three years before or after the preparation of the study. The Authority confirmed that access to the Industrial Procedures System will be restricted to accredited offices, specifying that all requests related to establishing an industrial facility, localizing facilities, converting a craft to an establishment, changing the activity, increasing production capacity, or adding a product, whether with or without an industrial coupon, as well as updating machinery, will be processed through accredited offices.