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12:48 GMT
KUWAIT, Dec 23 (KUNA) -- Kuwait Direct Investment Promotion Authority (KDIPA) issued on Tuesday its tenth annual report for the fiscal year 2024/2025, highlighting the key work carried out by the Authority from April 1, 2024 to March 31, 2025.
The report reflects KDIPA's continued progress in enhancing the business environment, developing national capabilities, and advancing sustainability, governance, and digital transformation in alignment with Kuwait Vision 2035.
In a statement to KUNA, KDIPA said the report showcases notable growth in its performance, with new direct investments reaching KD 222,855,092 million (approximately 725 million) and cumulative approved investments rising to KD 1,972,001,843 (approximately 6 billion) from January 1, 2015 to March 31, 2025.
These investments span 105 investment entities from 34 countries across 16 key sectors, including ICT, oil and gas services, infrastructure, energy, health, insurance, aviation, agriculture, and environment.
The report also notes the positive economic impact of these investments through job creation, talent development, technology transfer, enhancement of local content and exports, alongside a 17.6 percent increase in total domestic spending by licensed entities, reaching KD 1,087,161,697 (approximately 3.5 billion) based on KDIPA's Kuwait Economic Benefit Model (KEBM).
Marking ten years since KDIPA began its work as the designate entity to promote Kuwait and attract value-added investments under its establishing Law No. 116 of 2013, the report highlights the institutional progress achieved over the past decade.
Commenting on this milestone, Sheikh Dr. Meshaal Jaber Al-Ahmad Al-Sabah said, "The first decade of KDIPA's journey reflects Kuwait's ability to attract value-added investments and maximize their role in supporting economic development, which is made possible through our institutional commitment and strong partnerships across the public and private sectors." (end)
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