Posted on February 21, 2020

The ‘Qatari-Kuwaiti Business Forum’, held on Wednesday at the headquarters of the Kuwait Chamber of Commerce and Industry, discussed investment climate and business environment in both countries, as well as means of enhancing joint investments and exchange expertise in trade and industry sectors.

The first session, which was titled ‘Investment Climate and Joint Investment Opportunities’ and moderated by Kuwait Chamber Board Member Omran Habib Hayyat, touched on investment climate and opportunities available in both countries. Qatar Free Zones Authority (QFZA) Markets Manager Fahad Al Kuwari said the authority oversees three free zones which are Ras Bufontas, Umm Alhoul and Meshereb, noting that these zones offer distinguished services for local and foreign investors. He added that these free zones managed to attract 50 international companies, and reiterated that investors in free zones enjoy several legislative and logistic advantages.

Al Kuwari said that both Ras Bufontas and Umm Alhoul zones offer real estate solutions and industrial units, noting that Umm Alhoul offers 54 pre-built facilities dedicated to industries with various areas from 700sqm to 2,500sqm, while Ras Bufontas zone includes 24 pre-built facilities with diversified options for offices, warehousing and land plots. Saleh Faraj Al Marri, Assistant Director of Commercial Registration Department at the Ministry of Commerce and Industry (MoCI), said that foreign investors enjoy several incentives including the allocation of land to establish the project, as well as exemption from income tax and customs duties on semi-manufactured raw materials.

source: The Peninsula

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