Foreign Investment Firms Told To Hire Kuwaitis To Enjoy Privileges

Kuwait Direct Investment Promotion Authority (KDIPA) has ordered all foreign companies to hire Kuwaitis as a condition to enjoy the privileges it provides to them.

The sources added that KDIPA Director Shaikh Meshaal Al Jaber issued a decision on the mechanism to be followed on licensing foreign companies and the privileges they get according to the following conditions on the ratio of citizens hired:

License and privileges will be rejected if Kuwaiti manpower is less than 30 per cent.

Companies which hire 30 to 55 per cent of Kuwaiti employees out of the overall personnel will get the required licences.

A license and one selected incentive will be granted to firms hiring 60-80 percent of the manpower from citizens.

Foreign investment firms which hired 85 to 100 per cent Kuwaitis among its personnel will be granted a license and all incentives .

 

SOURCE : GDN ONLINE

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