Kuwait Proposes Foreign Investment Law
The Kuwaiti Council of Ministers approved a draft law regulating foreign directinvestment on 22 June. The law, which has yet to be ratified by parliament, provides for100% foreign ownership of projects in Kuwait with a 10-year tax exemption. Currentlegislation allows for a maximum of 49% foreign ownership. If the law is approved, foreigninvestors will be able to hold ownership rights to the entirety of a project but all...