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FT Digital Dialogues: Kuwait Investment Outreach

Discover The Opportunities In A Post-Pandemic World

Webinar |

Overview

As the world starts to emerge from the Covid-19 lockdown, and businesses become more alert to new ways of working and investing, Kuwait is positioning itself as a country whose transformation is helping it deal with the crisis.

Join the Financial Times, fDi Magazine and Kuwait Direct Investment Promotion Authority (KDIPA) on Tuesday 7th July and Wednesday 8th July at 9am BST (GMT+1) for the first Kuwait Investment Outreach Roadshow Digital Dialogue, the third in a series of briefing events being held in London, Silicon Valley and online.

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fallback Add to my Calendar 07/07/2020 09:00:0007/08/2020 10:50:00trueFT Digital Dialogues: Kuwait Investment OutreachAs the world starts to emerge from the Covid-19 lockdown, and businesses become more alert to new ways of working and investing, Kuwait is positioning itself as a country whose transformation is helping it deal with the crisis.Join the Financial Times, fDi Magazine and Kuwait Direct Investment Promotion Authority (KDIPA) on Tuesday 7th July and Wednesday 8th July at 9am BST (GMT+1) for the first Kuwait Investment Outreach Roadshow Digital Dialogue, the third in a series of briefing events being held in London, Silicon Valley and online.FT-Digital-Dialogues:-Kuwait-Investment-Outreach56d564b41e5f54d83babf4f4c02096dbMM/DD/YYYY

Full Overview

In recent years Kuwait has focussed on transforming itself into a world-class financial and commercial centre, promoting opportunities for the private sector to grab a slice of the action. New laws on foreign investment and public-private partnerships have proved popular with investors. Other developments include opening the stock market to non-Kuwaitis, the entry of foreign firms into key sectors and the promotion of its Vision 2035, a seven pillar programme that aims to secure the future through economic sustainability. 

Kuwait has strong investment-grade sovereign ratings (AA/Aa2) and low political risk ratings from major credit agencies globally. It was ranked 46 out of 141 in the WEF Global Competitiveness Index 4.0 2019. Despite these advances, challenges remain, and investors want the country to improve education and skills development, reduce labour regulations, enact policies and cut red tape to make setting up a business easier. This has helped it improve its rank to 83 out of 190 for ease of doing business in the World Bank Doing Business Report 2020, making it one of the 10 economies that improved the most on the ease of doing business after implementing regulatory reforms. 

FDI from the services sector has overtaken oil and gas in the country, and investors from the software and IT services, finance and banking, healthcare, construction, renewable energy, smart city and logistics sectors are discovering lucrative investment opportunities in Kuwait.

Financial Times Live, fDi Magazine and Kuwait Direct Investment Promotion Authority (KDIPA) present the Kuwait Investment Outreach Roadshow Digital Dialogue, the third in a series of briefing events being held in London, Silicon Valley and online.

Join our Digital Dialogue to find out about investing in the country; engage with business leaders who are already operating in Kuwait, and find out from experts in the region about the business environment and opportunities available.

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Agenda - 7th Jul

  • 9:00am
    Opening remarks
  • 9:10am
    Presentation: Middle East economic outlook
    • How has the Covid-19 pandemic impacted on the region’s economies?
    • What is the regional outlook for growth?
    • What are the key economic, policy and trade challenges ahead?
    • How can investors in Kuwait benefit from economic developments in the wider region?
  • 9:30am
    Panel discussion: Focus on the new Kuwait
    • What are the objectives of Kuwait’s economic plan and why is FDI an essential part of the plan?
    • How is its business environment being developed? And what effect is that having on FDI into the country?
    • What is the role of investment companies in attracting foreign investment to Kuwait?
    • What is the role of education and training in the development of the country?
    • What is Kuwait’s 2035 Smart City vision? And what opportunities are there for investors?
    • How is the PPP framework being developed to encourage private sector participation in housing construction projects?
    • How is the government working with other stakeholders to ensure that new developments have adequate infrastructure to help drive PPPs and FDI?
    • What opportunities are there for the private sector – especially SMEs – to address Kuwait’s housing shortage?
  • 10:20am
    Closing remarks

     

Agenda - 8th Jul

  • 9:00am
    Opening remarks
  • 9:10am
    Fireside chat: Investing in Kuwait’s future
    • What is the role of Kuwaiti banks in supporting Kuwait Vision 2035?
    • How is the banking sector’s investment in digital transformation driving opportunities for firms in the tech sector?
    • How can Islamic finance unlock opportunities in the Kuwaiti economy?
    • What do investors need from the Kuwaiti government to help them budget and plan for the future?
  • 9:30am
    Fireside chat: The new normal - the role of Kuwait’s technology and telecoms in the post covid-19 world of work
  • 10:40am
    Closing remarks

Presented By (2)

The Financial Times is one of the world’s leading business news organisations, recognised internationally for its authority, integrity and accuracy. The FT has a record paying readership of one million, three-quarters of which are digital subscriptions. It is part of Nikkei Inc., which provides a broad range of information, news and services for the global business community.

fDi Magazine provides an up-to-date image of the ever-changing global investment map.

Published bi-monthly with an ABC audited circulation of 15,284 active corporate readers and crossborder investment professionals, fDi Magazine is a central part of the fDi Intelligence portfolio of investment products and services from the Financial Times.

fDi Magazine is part of the fDi Intelligence portfolio of investment products and services from the Financial Times. Specialising in all areas relating to foreign direct investment and investment promotion, the fDi Intelligence suite also includes:

fDi Markets - The most comprehensive online database of crossborder greenfield investments available, covering all countries and sectors worldwide. It provides real-time monitoring of investment projects, capital investment and job creation with powerful tools to track and profile companies investing overseas.

fDi Benchmark - A platform to benchmark the competitiveness of countries and cities in more than 65 sectors. Its comprehensive location data series covers the main cost and quality indicators for more than 700 locations around the world.

fDi Reports - Provides sector, country, company and bespoke FDI reports, delivering vital  business intelligence to corporations, investment promotion agencies, economic development organisations, consulting firms and research institutions.

In Partnership With (1)

Kuwait Direct Investment Promotion Authority (KDIPA) is established in accordance with Law No. 116 of 2013 regarding the promotion of direct investment in Kuwait that aims to attract added value direct investments into Kuwait by promoting the country as an investment destination of choice by showcasing its unique attributes.

KDIPA’s responsibilities include licensing investments and granting incentives according to a transparent criterion, along with providing continuous investors facilitation and aftercare through its Investors Service Centre and is also part of the national one stop shop (OSS) at Kuwait Business Centre (KBC).

In addition, KDIPA manages its economic zones and the free zones as well as coordinating national efforts to streamline business environment, and enhancing Kuwait’s competitiveness to achieve economic diversification and sustainability.

As Kuwait’s designated IPA, KDIPA welcomes and encourages interested investors to settle their businesses in Kuwait in order to benefit from its dynamic project pipeline market, and to get the

 chance to choose from a host of mega opportunities in various leading sectors with the ability to own up to a 100% equity share by establishing a legal entity in Kuwait or opening a full-fledged branch.

For more information:

Visit https://kdipa.gov.kw/en/  Follow @KDIPA 

Platinum Sponsors (1)

Global Integrated Banking Operations

Leading the Islamic finance industry, KFH Group offers a wide range of Islamic products and services across several regions in Kuwait, Kingdom of Saudi Arabia, Kingdom of Bahrain, Republic of Turkey, Kingdom of Malaysia and the Federal Republic of Germany, with over 480 branches, more than 990 ATMs and approximately 9,000 employees.

Kuwait Finance House (KFH) was the first Islamic bank established in Kuwait in 1977. Today, KFH is one of the leading Islamic banking institutions in the world, and one of the biggest financiers in both the local and regional markets.

KFH (KSE: KFIN) is a publically listed company on the Kuwait Stock Exchange (KSE). The largest shareholders are Kuwait Investment Authority (Direct), Kuwait Awqaf Public Foundation (Direct), Public Authority for Minors’ Affairs (Direct), and The Public Institution for Social Security (Indirect). 

Gold Sponsors (4)

Since its inception, Boursa Kuwait’s mission driven strategy focuses on developing the overall market status in line with international standards, while addressing market needs through the provision of investment tools, restructuring the market to increase its competitiveness and liquidity, reinforcing transparency and operational best practices, elevating investor confidence and attracting local and
foreign investments. 

Boursa Kuwait’s ongoing progressive market reforms have set the path for the seamless implementation of numerous enhancements in the Kuwaiti equity market and introduced various products and services for both issuers and investors, which helped the company introduce market segmentation and further regulate the exchange.

Boursa Kuwait has proudly achieved prominent milestones that have positioned it in the forefront among other exchanges in the region, most recently Kuwait’s reclassification to an ‘Emerging Market’ by MSCI in December 2019. This follows Kuwait’s inclusion in S&P Dow Jones Indices’ (S&P DJI), Global Equity Indices, with Emerging Markets classification in December 2018, and in the FTSE
Russell Emerging Markets Index in September 2017. 

Furthermore, Boursa Kuwait’s privatization is a testament to the company’s efforts to boost the country’s economy and its position as a regional financial center.

During the last two decades, the investment companies have been an immense impetus within the local and regional economy. They have provided financing and investment services, asset management, in addition to the financial investment services, such as mergers & acquisitions and more. Furthermore, they have rapidly extended their business operations in the regional and international markets, including the provision of financial services in accordance with the provisions of the Islamic regulations.

Based on the importance of this sector, the idea of establishing the Union of Investment Companies, which was launched in January 2005, and It currently has 34 investment companies, of which 17 are listed on the Kuwait Stock Exchange.

As of Sep. 2019, there were 72 investment and financial services companies, with assets under management of KD20.5 billion, according to the Central Bank of Kuwait

UIC works on lot of Objectives, such as:

  • Activating the involvement and participation with all formal and informal establishments in the country as well as working with them to develop a clear strategy to transform Kuwait into an advanced financial center to create a competitive atmosphere for all investment companies.
  • Providing and suggesting draft proposals to update and reform legislation on the financial sector (the Capital Markets Authority law, corporate law, and the foreign investor law, etc.)
  • Working to complete the institutional structure of a mature financial market, which operates to protect the investments and improve the investment environment and stability of transactions, raising confidence in the economy
  • Working to increase the number of UIC members, and to provide detailed data on member companies.
  • Expanding the investment base for investment companies and assisting the investment sector in launching its investment projects and overcoming all obstacles facing investments and the promotion of the investment companies inside and outside Kuwait.
  • Encouraging investment companies and financial markets on growing their activities and widening their financial instruments (various funds, fixed income debt instruments, convertible bonds, Islamic bonds, etc.) to assist investors in diversifying their operations and investment choices.
  • Seeking arbitration to settle internal disputes that may arise between UIC members. 
  • Direct communication and establishing joint committees with all the official entities that are relevant to the investment sector (Central Bank of Kuwait, Capital Markets Authority, Ministry of Commerce and Industry, Ministry of Finance, Kuwait Chamber of Commerce and Industry, Committee of Finance and Economic Affairs in the National Assembly, Financial Committee at the Council of Ministers, Workforce Program and Restructuring, and more). 
  •  Activating the role of Investment Studies Center (ISC) to provide services and trainings to those interested in the investment field.

Mobile Telecommunications Company “Zain” was founded in 1983 in Kuwait as the first mobile telecommunications company in the Middle East and Africa. The Group’s flagship operation has enjoyed a proud history of achievements since then, including becoming the first telecom operator to launch a commercial GSM service in the region in 1994, as well as becoming the first telecom company in Kuwait to launch nationwide 4G LTE Internet services in 2012.

Looking ahead, Zain is following several strategic objectives, namely to consistently exceed customer expectations and maintain its leadership position by launching promotions and services that meet customers’ needs as per the highest quality standards through its largest network of branches and its dedicated call center (107).

As a main partner of the community in which it operates, Zain is keen on delivering its Corporate Sustainability and Social Responsibility through investing in and launching several sustainable initiatives that cater to education, health, environment, youth, sports, and other essential sectors. Zain believes that it has a responsibility to lead in the promotion of positive behavioral change within the community, and will continue to find ways to inspire and motivate people in leading humanitarian initiatives so as to foster a better world for everyone.

The Kuwait Foundation for the Advancement of Sciences (KFAS) continues on its 40-year journey to harness science, technology and innovation in Kuwait, as well as to promote modernization, a better quality of life and a sustainable future for the Kuwaiti people. In line with the long-term vision of the late Amir Sheikh Jaber Al Ahmad Al Jaber Al Sabah and supported by leaders in the private sector, an Amiri Decree was issued in 1976 for the establishment of the Foundation, with a focus on advancing and integrating science, technology and innovation (STI) throughout the country.The Foundation’s efforts toward fostering STI to address national challenges first began through the pledge made by the private sector shareholding companies to fund the Foundation based on a set percentage of their annual profits — currently at one percent — as well as through the incorporation of a unique governance modality, in which the Board of Directors is chaired and appointed by the Amir of the State of Kuwait. Today, KFS’s impact is prominently embedded within the country’s scientific and technological accomplishments and advancements.

Vision: 
“A thriving culture of science, technology and innovation (STI) for a sustainable Kuwait”

Mission:
“Stimulate and catalyse the advancement of STI for the benefit of society, research and enterprise in Kuwait”