Al-Diwan Al-Amiri News
Local News
Kuwait Amir congratulates Tonga on nat'l day
04-11-2024
His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah sent a cable of congratulations on Monday to King Tupou VI of Tonga, on his country's national day.
In the cable, His Highness the Amir wished King Tupou VI long-lasting health, and Tonga further progress and prosperity.
Kuwait Amir congratulates Panama Pres. on nat'l day
03-11-2024His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah sent Sunday a cable to President of Panama Jose Raul to congratulate him on his country's national day, wishing him good health and for Panama and its people progress and development.
Kuwait Amir congratulates Antigua and Barbuda on Nat'l Day
01-11-2024
His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah sent a cable of congratulations to Governor General of Antigua and Barbuda Sir Rodney Williams, for his country's National Day on Friday.
His Highness wished Williams a long healthy life and more prosperity and development for Antigua and its people.
Kuwait Amir welcomes King of Bhutan
30-10-2024
His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah received visiting King of Bhutan Jigme Khesar Namgyel Wangchuck and his accompanying delegation at Bayan Palace on Wednesday.
Senior state officials were present at the reception.
Kuwait Amir, Tajikistan Pres. discuss bilateral ties
03-11-2024
His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, with the attendance of His Highness the Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah received Sunday the President of Tajikistan Emomali Rahmon and his accompanying delegation.
During the meeting, both sides touched on the bilateral ties between the two friendly countries and latest regional and global developments.
Acting Prime Minister, Interior Minister and Defense Minister Sheikh Fahad Yusuf Saud Al-Sabah and senior state officials attended the meeting.
Kuwait Amir congratulates Algerian pres. on Nat'l Day
01-11-2024
His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah on Friday sent a cable to Algerian President Abdelmadjid Tebboune, congratulating him on the occasion of his country's National Day.
In the cable, His Highness the Amir wished the Algerian president good health and further progress and prosperity for Algeria and its brotherly people.
Kuwait Amir offers condolence to Spain King on victims of heavy rains
31-10-2024
His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah sent Thursday a cable of condolences to King of Spain Felipe VI on the tragic loss of life and widespread damage to property caused by floods in Spain's eastern region of Valencia.
In the cable, His Highness the Amir expressed sincere condolences over fatalities, wished speedy recovery for the injured and for Spain to overcome the repercussions of this natural disaster.
Kuwait seeks to tap foreign investment as impetus to economic growth
30-10-2024
Under the directives of His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, Kuwait is adopting an ambitious approach to promote foreign investment and turn it into main economic momentum by taking steps that aim at revamping the investment environment.
The State of Kuwait is eyeing partnership with major global companies, marking investments that would drive the wheels for economic growth forward.
In this regard, meetings of representatives of His Highness the Amir, His Highness the Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah on the sidelines of the 79th UNGA reflected the countryآ’s desire to bring in foreign investors who would contribute to the overall economic development of the state and benefit partners.
An instance of moving matters forward could be seen in the last few weeks when Kuwait and China activated the previously signed seven deals inked during His Highness the Amirآ’s visit to China in September of 2023.
Kuwait had received several Chinese delegations who met with a number of Kuwaiti officials to explore venues of cooperation and also initialize previously signed agreements.
On the part of the Chinese, the Asian country expressed trust in the future of Sino-Kuwaiti relations. This was seen in the visit of the CCC Chinese company to Kuwait recently.
The Kuwaiti cabinet, in return, tasked ministers and state entities to implement signed agreement with the Chinese side and also called for more measures to enhance investment climate in Kuwait to support the Kuwaitآ’s transformation to a hub of commerce, trade, and investments.
The cabinet also has a vision to include the private sector in some of its projects including for example developing the framework to the Gulf of Sulaibikhat project and the Jahra waterfront corniche.
On the monetary side, the Minister of Finance, Minister of State for Economic and Investment Affairs, and Acting Minister of Oil Nora Al-Fassam stressed the importance of maintaining the monetary and financial stability of the state via bolstering the national economy, diversifying non-oil income, attracting foreign investments, supporting national cadres. Al-Fassam reiterated such points during her meeting with the mission chief of the International Monetary Fund (IMF) Francisco Parodi.
In August, Kuwait set the new foundation to encourage more foreign investments in Kuwait and this came in a decision made by the 2013آ—established Kuwait Direct Investment Promotion Authority (KDIPA), which allowed entities with less than a year of operation to submit to the authoritiesآ’ papers allowing for privileges and exemptions.
Moreover, Kuwaitآ’s 2024-25 development plan called for the establishment of a specialized economic development zone of unique laws aimed at attracting global investors of high value and also encourages transparency in managing financial resources.
Last August, Kuwait agreed via a decree on the MoU signed with Oman within the framework of direct investments.
Kuwait also signed this year a MoU with South Korea to bolster economic cooperation, and mutual investment, and encourage direct investment visits between the two sides.
On foreign companies expressing interest in the Kuwaiti market, London-based Joseph Gallagher, one of the UKآ’s construction giants, joined last September the list of companies interested in investments in the Kuwaiti market.
The British company established a one-person-licenses entity in Kuwait dubbed the Joseph Gallagher company for project management.
Meanwhile, Google Cloud opened its new office in Kuwait last July to boost digital transformation in the country and bring in more income for the state.
It is worth noting that the volume of incoming direct investment from January 2015 until late March 2024 reached KD 1.7 billion (USD 5.55 billion), including KD 206.9 million (around USD 675 million) in inward direct investments during the FY 2023-2024.
The investments came from 95 entities belonging to 34 countries, according to Kuwait Direct Investment Promotion Authority (KDIPA).
The European continent heads direct investments in Kuwait by 59.98 percent, followed by Asia by 28.50 percent, North America by 9.52 percent and Africa by 1.90 percent.