Kuwait welcomes foreign investments with tax exemptions

The Kuwaiti government issued a series of laws aimed at liberalizing the national economy and opening Kuwait's doors before foreign investments and offering tax exemptions for ten years.

An official statement said these laws will assist in upgrading trade and activating foreign investments in Kuwait to help confront the effects of the expected reduction in petroleum prices and attract major companies working in field of drilling for metals in Kuwait.

It said the government is trying to make use of the United Arab Emirates' successful experiment in the field of liberalizing trade and investment.