Doing Business In Kuwait

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Offset Around the World

  • Offset is an obligation that is imposed on foreign contractors, which win contracts from GOK, and whose values are equal or greater than a specified threshold, compelling them to participate in joint venture projects in Kuwait.

  • Offset programs were first initiated by the governments of developed countries,  and it is now adopted by close to 79 countries around the world.

  • A growing Number of developing countries are utilizing offset programs to benefit from the transfer of technology and Know-how to their emerging industries, and primarily through the establishment of partnerships, with foreign suppliers.

Offset Program Economic Objectives

The primary objective of Kuwait offset program is to utilize the large Kuwait Government contracts to achieve the transfer of economic benefits from foreign contractors to Kuwait, through the establishment of long-term partnerships between offset obligors or their representatives of specialized foreign companies and Kuwaiti entrepreneurs, leading to the achievement of the following objectives:

  • Transfer appropriate advanced technologies to Kuwait, and facilitation of their integration into the local economy;

  • Creation and development of high-skill professional jobs for Kuwaiti nationals.

  • Provision of support to professional training activities.

Our Vision

Developing Kuwait Offset Program, to enable it to play a leading  role in achieving the strategic development goals of the State of Kuwait.

Our Mission

To implement the offset program within Kuwait's overall strategic economic objectives through establishing viable long term business partnerships between foreign offset obligors  and Kuwaiti entrepreneurs.

 

Future Strategy of the National Offset Company

To Achieve value added benefits to Kuwait economy through concentrating on the creation of long-term business partnerships between foreign offset obligors (or their specialized foreign representatives) and the Kuwaiti private sector entrepreneurs, granting mutual benefits to both and fostering Kuwait sustainable economic growth through supporting the economic role of the private sector and achieving the Offset Program objectives.

The Role and Function of the National Offset Company

  • Managing the offset program efficiently and effectively on behalf of the Kuwait Ministry of Finance.

  • Directing foreign companies to implement their commitments towards Kuwait Offset Program by establishing long-term partnerships with the Kuwaiti private sector, in accordance with international standards, ensuring transparency and conformity with corporate governance principles.

  • Supporting the State of Kuwait efforts to promote and attract foreign investments.

  • Creating lucrative investment opportunities for foreign companies, leading to the achievement of value added benefits to the Kuwait economy.

  • Motivating committed foreign offset obligors to support offset projects that lead to the transfer of advanced technology, know-how and managerial expertise to Kuwait.

  • Contributing to the privatization efforts of the State of Kuwait and supporting the role of the private sector in the national economy.

  • Supporting committed foreign offset obligors and providing them with all possible facilities in their investment activities in Kuwait.

Our Services

  • Supporting foreign Offset obligors in all legal and organizational aspects pertaining to their offset projects.

  • Supporting and assisting foreign offset companies in understanding the business environment in the State of Kuwait.

  • Supporting foreign offset obligors in developing strategic business relationships with Kuwaiti private sector entities.

  • Assisting foreign offset obligors in identifying and developing offset projects that coincide with the Offset Program objectives.

  • Assisting foreign offset obligors in proposing and developing offset projects initiatives that are compatible with the general economic policy of the State of Kuwait.

 

Please click the following link to view the National Offset Company, Standards of Partnership PDF

 

 

Contact

Al Salam Tower, 5th floor, Fahad Al Salem Street, Kuwait City, Kuwait Tel: +965 2 2471777 Ext 450 , 446 Fax: +965 2 2492903 Email info@kuwaitnoc.com  Website www.kuwaitnoc.com P.O.Box 26363 Al Safat 13124 Kuwait
Mrs. Lana Al Ayyar
Mrs. Heba Al Hussaini