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Tribune News Network
Doha
The ‘Qatari-Kuwaiti Business Forum’ was organised at the headquarters of the Kuwait Chamber of Commerce and Industry on Wednesday.
The forum 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.
Speaking on the occasion, QFZA Markets Manager Fahad al Kuwari said that 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 also noted that these free zones managed to attract 50 international companies, pointing 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 700 sqm to 2500 sqm, while Ras Bufontas zone includes 24 pre-built facilities with diversifies options for offices, warehousing and land plots.
Assistant Director of Commercial Registration Department at the Ministry of Commerce and Industry Saleh Faraj al Marri said that foreign investors enjoy several incentives including the allocation of land establish his project, as well as exemption from income tax and customs duties on semi-manufactured raw materials.
Al Marri outlined the Single Window project which offers 150 governmental services related to establishing companies, noting that it aims to streamline establishing businesses, achieve efficiency, operational effectiveness and transparency of performance, as well as improve Qatar’s position in the ease of business index and attract foreign investment.
He pointed out that the number of applications submitted through the Single Window since it has been launched is nearly 648 applications. More than 497 CR had been issued, while there are 105 applications in the signing phase and about 46 in the payment phase.
Mohamed Yousef Yaqoob, Assistant Director General for Business Development at the Kuwait Investment Promotion Authority, said that Kuwait has adopted several measures to free its economic sectors such as the issuance of many economic legislatives, noting that these measures contributed to promoting Kuwait’s stance in many international indicators.
He noted that Kuwait business environment offers several incentives, the most prominent of which is the investment opportunities available for the development plan which amounted to $ 100 billion.
The second session of the forum titled ‘Cooperation Opportunities in Industry sector and Renewable Energy Sources’, focused on means of developing cooperation between both countries in industrial sector, as well as challenges facing the sector, industrial finance and projects related to renewable energy in Kuwait.
Addressing the session, Essa al Ansari, head of Business Finance at QDB, said that the bank provides many important services for entrepreneurism, noting that access to finance is through several aspects including the direct and indirect finance and export finance.
Doha
The ‘Qatari-Kuwaiti Business Forum’ was organised at the headquarters of the Kuwait Chamber of Commerce and Industry on Wednesday.
The forum 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.
Speaking on the occasion, QFZA Markets Manager Fahad al Kuwari said that 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 also noted that these free zones managed to attract 50 international companies, pointing 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 700 sqm to 2500 sqm, while Ras Bufontas zone includes 24 pre-built facilities with diversifies options for offices, warehousing and land plots.
Assistant Director of Commercial Registration Department at the Ministry of Commerce and Industry Saleh Faraj al Marri said that foreign investors enjoy several incentives including the allocation of land establish his project, as well as exemption from income tax and customs duties on semi-manufactured raw materials.
Al Marri outlined the Single Window project which offers 150 governmental services related to establishing companies, noting that it aims to streamline establishing businesses, achieve efficiency, operational effectiveness and transparency of performance, as well as improve Qatar’s position in the ease of business index and attract foreign investment.
He pointed out that the number of applications submitted through the Single Window since it has been launched is nearly 648 applications. More than 497 CR had been issued, while there are 105 applications in the signing phase and about 46 in the payment phase.
Mohamed Yousef Yaqoob, Assistant Director General for Business Development at the Kuwait Investment Promotion Authority, said that Kuwait has adopted several measures to free its economic sectors such as the issuance of many economic legislatives, noting that these measures contributed to promoting Kuwait’s stance in many international indicators.
He noted that Kuwait business environment offers several incentives, the most prominent of which is the investment opportunities available for the development plan which amounted to $ 100 billion.
The second session of the forum titled ‘Cooperation Opportunities in Industry sector and Renewable Energy Sources’, focused on means of developing cooperation between both countries in industrial sector, as well as challenges facing the sector, industrial finance and projects related to renewable energy in Kuwait.
Addressing the session, Essa al Ansari, head of Business Finance at QDB, said that the bank provides many important services for entrepreneurism, noting that access to finance is through several aspects including the direct and indirect finance and export finance.
