Mubasher: The Kuwait Direct Investment Promotion Authority (KDIPA) has attracted direct investments worth KWD 363.88 million ($1.2 billion) to Kuwait in fiscal year 2016/2017, the director general of the KDIPA, Meshaal Al Sabah, said.
The sectorial participation to the KDIPA was focused on the vital services segment, contributed by 22 investment entities, as 90% of the projects were authorised and approved for a total value of KWD 329 million.
Since January 2015 until March 2017, a total value of KWD 707.9 million ($2.3 billion) was generated from the authorised and approved direct investments from 14 foreign nationalities, with expectation to provide over 1,000 job opportunities, Al Sabah added.
The KDIPA plans to attract $4 billion foreign direct investments (FDI) to Kuwait by 2020.
The government fiscal year of Kuwait starts on 1 April and ends on 31 March.
