Kuwait aims to facilitate business visas as part of its economic reform program and to boost foreign investment, said DAWN Internet edition, quoting press reports.
It said the Kuwaiti government is studying ways to provide the facilities required to attract foreign businessmen to Kuwait's free-trade zone by eliminating bureaucracy so as to issue such visas in shortest possible time.
The Kuwaiti cabinet had approved a draft law on foreign investment in June 1999, in a bid to boost investment, but still it awaits parliament approval.
According to the draft law, investment projects can be exempted from income tax and other taxes for a period of 10 years, as well as be allotted land and real estate required for the investment.
The businessmen can also partly or wholly be exempted from customs duties on the import of machines, equipment, spare parts and raw materials – Albawaba.com
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