Kuwait

Over the past three years Kuwait has promulgated a number of laws concerning public-private partnerships (PPPs), an area which holds great potential in the country. However, since most of the PPP projects initiated by the state are still in their initial phases, it remains to be seen whether there is credence to the proposed Kuwait approach. This chapter looks at the project company structures...

This chapter contains details about Kuwait’s tax system, including rules and regulations for foreign investment, procedures for tax filing and appeals, double-tax avoidance treaty agreements and information on trade licences and sponsorship of foreign firms. This chapter also includes an interview with Qais Al Nisf, Managing Partner, BDO.

In the world of retail, Kuwait is a heavy-hitter. This is despite a relatively small population of some 3.5m. Indeed, with the high level of disposable income that Kuwaitis enjoy, retail sales are expected to grow over the coming years by some 42%, from $8.41bn in 2011 to $11.92bn by 2015. This is because mall shopping has become ingrained in local popular culture. Moreover, in recent years a...

Free health care is widely regarded as a civic privilege in Kuwait. However, a growing population means that health care provision is starting to strain state finances. A new scheme is therefore underway to encourage private-sector participation to reduce the burden of state care. The Kuwait Health Assurance Company (KHAC) will be launched by 2015, with a mandate to manage the health care needs...

While the contribution of oil to the economy has fallen in recent years, due in part to the global downturn, hydrocarbons still make up nearly half of Kuwait’s GDP and provide the government with around 95% of its annual revenue. Indeed, under the New Development Plan, launched in 2010, oil production is set to rise. However, like all Gulf economies, Kuwait has adopted a long-term strategy of...