In the past few years there has been a wave of increased interest in the Kuwait market, with existing investors seeking to restructure their business to establish more permanent ties to Kuwait and potential foreign investors vying for market entry. A variety of groundbreaking laws and reforms aimed at modernising the archaic legal system – including the Companies Law issued in...
As the Kuwaiti economy continues to modernise, there has been a growing acknowledgement that the legal system must expand, as well as become more sophisticated, to handle the requirements of modern businesses. Therefore, the government has passed laws governing a range of sectors, relating to the protection of competition, taxation, foreign...
On August 17, 2014 the highly anticipated new law governing public-private partnership (PPP) projects was issued as Law No. 116 of 2014 (“New PPP Law”). The New PPP Law replaced the previous PPP law, Law No. 7 of 2008 (“Old PPP Law”), and was well received as a major reform that will benefit Kuwait’s PPPs.
This chapter contains an overview of the legal framework for local and international investors in Kuwait and provides a rundown of the key improvements that have been made to the business environment. These include recently introduced public-private partnership laws and a new state agency set up to promote foreign direct investment.
The growth of the Saudi economy over the last few decades has been nothing short of staggering, and today the country is one of the top 20 economies in the world. Historically, the hydrocarbons sector has dominated the economy, though growth in other segments, including industry, manufacturing, retail, trade and construction, has created...
Parties doing business in Saudi Arabia often select binding arbitration in the Kingdom, a preferred neutral foreign jurisdiction or another GCC state as the method for dispute resolution. In 2012 an arbitration law was enacted in Saudi Arabia confirming the right of parties to agree to settle their disputes through arbitration if the dispute...
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