Kuwait: Country eyes investment for big-ticket infrastructure projects
- Kuwait: Sunday, February 17 - 2013 at 13:39
- PRESS RELEASE
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).
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.
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