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Farouk Bastaki has held numerous positions at the KIA, with the most recent being the Executive Director of the Alternative Investment where he was responsible for all private equities, real estate, infrastructure, hedge funds and other non-public investment on a global basis. Bastaki has been a member of different Board of Directors, both domestic and internationally where he served as the Chairman of various entities. Minister Al-Hajraf holds a Ph. Learn More. Our Training Programs.
Read More. Training Programs. MBA Scholarships. Fresh Graduate Training Program. Job Opportunities at the World Bank Group. Kuwait Automotive Academy. Apply Now. Kuwait Automotive Academy This one-year training program is done in partnership with Daimler AG to provide Kuwaiti nationals with the skills required to work in the automobile industry.
Latest News. The Managing Director Mr. Farouq Bastaki receives group 42 of the New Graduates. Barrak A. Minister of Finance, State of Kuwait H. Aseel Al-Munifi. Bader Al-Saad. Ahmed Al-Aiban. Kuwait has always been a hub of trade in its region and a promising market for novice and veteran businesses. Hence, I invite all types of businesses to consider investing in Kuwait, which has an open market and an open trade policy. Customs duties do not exceed five per cent for most goods imported from outside the customs union of the GCC and more than goods are exempt from customs duties — most of them foodstuffs.
Imports are not subject to quotas. Under Kuwaiti investment rules, foreign investors can establish Kuwaiti companies with a foreign capital share of per cent. Foreign investors may transfer ownership of their investment to another foreign or national investor.
Foreign investors have the right to transfer profits and capital abroad. Additionally, foreign investors can enjoy the following advantages: Exemption from income tax and any other taxes for up to 10 years; full or partial exemption from customs duties on imports required by the project; allocation of land required by the project and employment of foreign workers needed by the project.
In addition, any dispute between a foreign investor and another party may be referred to domestic or international arbitration. Abdulhamid Ali Alfailakawi is the ambassador of Kuwait. Reach him by email at ambassadoroffice kuwaitembassy. Tags: Trade Winds. Category : Diplomatica. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment.
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During the last months investors have complained about the fierce competition in the acquisition of assets. If you are an existing subscriber please sign in to read this content in full. In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page. Register now to get access to. No entries. Home News. Kuwait Investment Authority to increase infrastructure investments Date January 28, Subscribe to our newsletter and get the latest news and business opportunities in your inbox.
KIA was founded on 23 February  to manage the funds of the Kuwaiti Government in light of financial surpluses after the discovery of oil. KIA is the world's first and oldest sovereign wealth fund. KIA's board of directors is headed by the minister of finance  with other seats allocated to the Energy Minister , Governor of the Central Bank of Kuwait , Undersecretary of the Ministry of Finance, and 5 other nationals who are experts in the field, 3 of which should not hold any other public office.
The quota is the highest to be granted by China to foreign investment entities. The Kuwait Investment Authority has an infrastructure arm and signed an agreement to acquire the oil and gas pipeline firm North Sea Midstream Partners Limited for approximately 1. Torras subsequently took over a number of other companies to become Grupo Torras in June However, in December Grupo Torras entered receivership among accusations of fraud, and Kuwait's investment was a total loss.
One of its projects was the Gate of Europe twin towers in Madrid, which was still incomplete when the company collapsed. From Wikipedia, the free encyclopedia. Kuwait Health Assurance Company. SWF Institute. Archived from the original on 27 September Retrieved 24 September Retrieved 21 December
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