The Kuwait Direct Investment Promotion Authority or KDIPA has taken steps that have led to several foreign technological firms opening offices in the country, local reports have said.
KDIPA’s steps are said to have led to the opening of offices of 42 such companies, including General Electric and Huawei, the local reports have said.
Technology is said to be a kay part of the 2035 New Kuwait vision, and KDIPA is the government’s arm responsible for promotion for foreign companies.
According to the local reports, using expertise offered by foreign companies will be an added value for Kuwait’s economy, and thus diversify resources and provide jobs for citizens.
To that end, KDIPA is said to have offered a bundle of incentives like waiving of taxes and giving firms a priority in government bids.
Besides the 42 foreign companies, KIDPA’s efforts are also said to have resulted in 11 representative offices being opened in Kuwait.
In return, the companies are expected to offer training opportunities for Kuwaiti citizens regarding the use of modern technology and techniques, which would be used in their projects.
Huawei Technologies-Kuwait, according to a KDIPA report for fiscal year 2019-20, executed a number of projects with local partners to complete the G5 networks, as well as providing training programs for 51 Kuwaitis who were certified in Information Technology and G5 Application.
General Electric joined hands with the Ministry of Electricity and Water to provide solutions for the comprehensive electronic upgrade of the West Sabbiya power station, the largest in Kuwait.
GE also provided research opportunities for around 1,143 Kuwaitis over remote control systems, turbines, repair of generators, gas turbines technologies, mechanical systems and project management.
EZ Energy Services, which is responsible for operation and maintenance of Shamal Al-Zour power station, provided training in security and safety for MEW’s engineers, a KDIPA report said.
Honeywell Kuwait is said to have trained six Kuwaitis on the Process Knowledge System, an advanced tool for management of operations and assets which help industrial companies boost their profits and productivity.