Kuwait, 29 October, 2024 : Kuwait has successfully attracted direct foreign investments (FDI) totaling KD 206.9 million (approximately USD 675 million) from April 2023 to March 2024, according to a report from the Kuwait Direct Investment Authority (KDIPA). This brings the total FDI since the establishment of KDIPA in January 2015 to KD 1.7 billion (USD 5.55 billion).
The report indicates that the recent investments were generated by 95 licensed entities from 34 countries, primarily focusing on the services sector, information technology, oil and gas services, as well as construction and infrastructure. The economic impact of these licensed investments has resulted in a 16% increase in cumulative domestic spending, amounting to approximately KD 924.1 million, supported by local goods and services, including advanced technology.
In addition, KDIPA reported significant progress in digital transformation initiatives, investment promotion, talent development, and sustainability, contributing to the establishment of essential digital infrastructure. The authority also gained international recognition by being elected vice president of the World Association of Investment Promotion Agencies (WAIPA) for the first time, enhancing Kuwait’s visibility in the global investment landscape.
Source : www.zawya.com
