As part of its effort to attract foreign investment into the country, the government of Kuwait intends to ease the issuing of visas to foreign business executives wishing to visit the country.
According to the local daily, Al-Anba, Kuwait’s commerce and industry minister, Salah Khorshd, would be meeting this week with the country’s interior minister, Shaikh Mohammad Khalid Al-Sabah, with the aim of formulating the procedure and eliminating obstacles that have obstructed the issuing of business visas in the past.
According to the newspaper, the two ministers would discuss the facilities required to attract foreign businessmen to Kuwait's free-trade zone.
Kuwaiti government approved a draft law on foreign investment in June 1999, but it still has not received parliamentary approval. According to the law, investment projects would be exempted from income tax and other taxes for a period of up to 10 years, and will be allotted land and real estate as necessitated by the nature of the investment. — (Albawaba-MEBG)
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