Doing Business in Kuwait Guide. Middle East. The State of Kuwait, though having a small land mass of 20,000 square kilometers, is a viable destination for foreign direct investment being a major producer of oil in the world and having a GDP US$176.6 billion and a per capita income of US$44,730. Its foreign reserves stood at US$29,260 million. The Kuwaiti market permits limited investment of foreign capital, although the introduction of new laws in recent years has seen improvement with regard to the same. However, in late Investment law came into force, which was recently replaced by Promotion of Foreign Direct Investment law. The FDI allows for 100% foreign ownership in a number of Kuwait sectors and also makes available a number of benefits that authorities can offer in order to attract foreign investors.
Doing Business in Kuwait Guide
Kuwait is a member of the six-nation Gulf Cooperation Council (GCC). About one-third of Kuwait’s 4 million residents are Kuwaiti nationals. The other 2.7 million residents hail from more than 80 countries. Kuwait’s economy is dominated by the oil industry and government sector. Given that oil is the country’s main natural resource, Kuwait’s industries are dominated by oil refining and downstream petrochemical processing. The non-petroleum related manufacturing and agriculture sectors are limited, consisting of a switch gear manufacturer for power sub stations and factories for building materials, furniture, and food packaging. Learn more from Kuwait Business Guide provided by ExportGov from the US Government.
