Economy (FREE TRADE ZONE)

The strategic location of a country has always been an important determinant of its trade and commerce. Kuwait is, without doubt, perfectly located to service the emerging markets in northern Iran, Iraq, Turkey, the Commonwealth of Independent States or the CIS. The Kuwait Free Trade Zone (KFTZ), located strategically in Shuwaikh Port, provides access to these big potential markets.

Shuwaikh port, home of the KFTZ, is owned and operated by the Kuwait Ports Authority (KPA). During the past few years, KPA has engaged in massive renovation and modernisation of its management and operation systems resulting in considerable increase in both efficiency and productivity. The privatisation of the cargo and container handling activities and computerisation of the tariff, financial and administrative systems have made KPA a modern port facility.

Investment in the KFTZ entails incentives such as:

Exemption for taxation on all corporate and personal forms of income.
Capital and profits are freely transferable outside the KFTZ and not subject to any exchange control.
Hundred per cent foreign ownership is permitted and encouraged.
Policy of promotion of Free Trade.
The KFTZ is quite close to the international airport, a major city - and close to the Iranian border. The management being in private hands would ensure all professional support for the industries. In addition, it has ample supply of energy and water, state of-the-art communication systems and excellent transportation systems by sea, land and air.

In keeping with the KFTZ’s objective of offering the most technologically advanced services in the world, the telecommunications systems are designed to cater to the investors’ local and international needs. Through a decentralised network and utilising fibre optic cabling, KFTZ provides both the basic services that international customers have come to expect, as well as most of the cutting edge technical services currently available. The high-tech features that will be available include voice mail service, four-level divert, call line ID, remote access to voice mail, direct interface to Internet telephony, etc.

The KFTZ offers services such as:

Simplicity in obtaining licenses.
Attractive facilities to recruit and accommodate foreign workforces.
Fast processing of residency and entrance permits.
Simple and efficient procedures through the One-Stop Shop.
On-site banking and financial services.
On-site consulting services.
24-hour service to all investors.
Fast and flexible service.
A modern handling system with limited official interventions.
Attractive service rates and business environment.
Ongoing commitment to innovative service developments.