Kuwaiti Embassy in Tokyo strives to lure Japanese investors

In the framework of its seminars, workshops, and open days for introducing and promoting opportunities in Kuwait here, Japan's third-biggest investment bank Nikko Citigroup Ltd. has invited the Kuwaiti Embassy to give a seminar on the reality and prospects of investment in Kuwait.
"The Nikko Citigroup, a Japanese arm of the US-based Citigroup, hosted the seminar at its Tokyo headquarters on Tuesday with a view to promoting Kuwait for the firm's Japanese institutional investors who are said to have an increasing interest in the stock markets in the Gulf Countries Council (GCC) region," the embassy said in a statement to KUNA.
Ahead of the seminar, Kuwaiti Ambassador to Japan Abdulrahman Al-Otaibi and Sim S. Lim, President and CEO of the group, discussed the current Japanese economic situation and prospects of investment in Kuwait, according to the embassy.
Al-Otaibi and Lim also exchanged views on the current global financial crisis, its short-term and long-term consequences, and the possible solutions to deal with challenges.
While touching on the bilateral relationship, the ambassador explained how Kuwait is ready to receive and maintain Japanese investors' prospective ventures. "Our government provides foreign investors with a favorable investment climate," he said and underscored the convenience of the legal framework and economic facilities in Kuwait.
Emphasizing the government's enactment of new investment laws, especially the so-called tax exemption rules "Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income," Al-Otaibi insisted, "This is meant mainly to encourage overseas investors to invest in Kuwait and contribute to the country's development process." At the seminar, the embassy staff gave a detailed presentation under the title of "Kuwait -- A 21st Century Haven for Sustainable DM-Level Investment: Towards a Two-way Sustainable Benefit-Focused Partnership," with updated facts and figures on the Kuwaiti economy.
The subjects also covered other basic information about the country's history, society, culture, education, media, and foreign relations with Japan and the rest of the world.
At the end of the presentation, the audience had a series of questions, most of which were answered by the ambassador himself.
"The seminar reached its end in success, as was assured by the audience who expressed their satisfaction and wished to have their prospective investment ventures in Kuwait become a reality," the embassy said, expressing readiness to offer assistance to any Japanese investors seeking a foothold in the Kuwaiti economic house.