The Central Bank of Kuwait and the Kuwait Direct Investment Promotion Authority announced the signing of a memorandum of understanding to define coordination frameworks between the two sides.
This memorandum comes within the framework of enhancing cooperation and coordination between the two sides to encourage direct investment in Kuwait, develop and improve the investment environment, and remove obstacles in front of investors, reports Al-Qabas daily.
This is in addition to arranging all technical and procedural aspects related to licensing investment units and entities, and everything related to renewing, amending and canceling their licenses, with the aim of facilitating these procedures, the speed and accuracy of completing transactions, and the role assigned to each of the Central Bank of Kuwait and the Direct Investment Promotion Authority.
The memorandum of understanding, and its provisions, affirm the keenness of the Central Bank of Kuwait and the Kuwait Direct Investment Promotion Authority to achieve harmony and integration in work mechanisms and procedures between state agencies, and to prevent any duplication of competencies or overlapping in the basic tasks and responsibilities of the two parties in order to complete the work to the fullest.
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