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In JEDDAH, SAUDI ARABIA & Other GCC Jurisdictions:
Khalil Khazindar Law Firm in Association with JASON HUF INTERNATIONAL pc Ammar Commercial Center Al Murjan Street (off of King Abdul Aziz Street), Office # 202 P.O. Box 157, Jeddah 21411 Kingdom of Saudi Arabia +966 (2) 4204763 (p) +966 (2) 4204729 (f) www.khazindarlaw.com ______________________________
Irrespective of generally good relations with Western countries, Kuwait is rarely mentioned by Western companies looking to expand into the GCC region. While the United Arab Emirates, Qatar and Saudi Arabia have attracted billions of dollars worth of Foreign Investment capital over the last 10 years, oil rich Kuwait has quietly relied on its most famous resource for economic growth.
This could change, however, with the implementation of Kuwait’s new Commercial Licenses Law. Not traditionally seen by potential foreign investors as one of the more “business friendly” Gulf States, the new law consolidates the function of approving applications for commercial licenses into a single government office.
Kuwait is awash in disposable income and should be an attractive target for businesses looking for an expansion opportunity. Simplifying the application process for commercial licenses is a step in the right direction. And, JHI will continue to keep abreast of legal developments impacting Kuwait’s business environment.
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