BUDGETS AND REVENUES
Kuwait Finance Minister Calls For End To Offset Program
Kuwaits Finance Minister Mahmud al-Nuri in a letter to the Council of Ministers has called for an end to the countrys offset program. The offset program was set up in July 1992 (MEES, 3 August 1992) and amended in 2002 (MEES, 4 March 2002) and imposes a requirement on foreign contractors to invest 35% of the value of their contract in Kuwait itself, with the aim of developing technical and...
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