Doing Business In Kuwait

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UK Ambassador to Kuwait Foreword

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Kuwait may be renowned for its oil rich economy, but increasing numbers of British businesses are realising the vast wealth of opportunities this diverse country has to offer.

HMAK Frank Baker
HM Ambassador to Kuwait
Frank Baker

The UK enjoys a healthy bilateral trading relationship with Kuwait which continues to grow - up twenty five per cent to over £1 billion last year. But we need more British companies to look to Kuwait, our third largest trading partner in the Gulf and an exciting and growing export market.

The coalition government has made clear that the political will to strengthen the bilateral relationship is there, through the Gulf Initiative. Complementing that I want to see more UK companies grasping the opportunities to work in Kuwait, alongside partners in local companies, and joining those that are already succeeding here.

It is an opportune time to look for business in Kuwait. In February 2010 the Kuwaiti government announced its ambitious four-year development plan.  From April 2010, investment of some £90 billion will be pumped into Kuwait's private business sector and infrastructure - including, health, housing, transport, infrastructure, retail and education. The sheer scale of potential for collaborative working makes Kuwait a lucrative hub for investment and business over the next four years and beyond.

To help facilitate the entry of UK companies into the Kuwait market we signed a robust government-to-government Memorandum of Understanding (MOU) in February 2011. UKTI - the government department that helps British companies succeed in the local economy -  is also working with the Kuwait authorities to develop supply chain initiatives to deliver the proposed projects within the four-year timescale. And the British government is working closely with Kuwait on its privatisation and PFI agenda.

I am confident that the UK has the skills and knowledge to play a key part in helping Kuwait to deliver its plans - by sharing expertise and working collaboratively. I very much hope that British business will take full advantage of the opportunities that Kuwait presents.

HM Ambassador to Kuwait
Frank Baker
www.gov.uk/world/kuwait

 

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