There would be favorable policies, tax exemption and easier access for Guangdong enterprises to invest in Kuwait, according to Kuwaiti Consulate General in Guangzhou.
Mr.Abdulwahab A A Alsager, Kuwaiti Consulate General in Guangzhou (Right, 2nd) at a press conference today (Feb 22).
Currently, more than 20 Chinese enterprises invest in Kuwait, including the local leading telecommunication solution corporate, Shenzhen Huawei Technology Co., Ltd and Shenzhen ZTE Corporation. The bilateral economic trade volume between Guangdong and Kuwait totaled 7.5 billion USD by September last year.
Kuwait expects to attract foreign investors, including investors from Guangdong to invest in their industry (apart form oil & natural gas), construction operation & management, financing, assurance, information technology & software development, medical & pharmacy, entertainment, culture promotion, estate and environment protection.
According to Mr.Abdulwahab A A Alsager,Kuwaiti Consul General in Guangzhou, Kuwait plans to build itself into a fast east regional financial center and trade hub in its five-year (2010-2015) plan. And foreign enterprises in Kuwait will enjoy a 10-year income tax exemption and other taxes, as well as exemption from double taxation. Benefits will also be gained from investment promotion and protection agreement. Part of the customs-related costs will be remitted. Foreign employees are also allowed to be employed in foreign enterprises in Kuwait.
A series of help will be offered by Kuwaiti Consulate General to help enterprises to make investment in Kuwait, said Mr. Consul General.
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Kuwait Foreign Investment Bureau
(By Mo Qun)