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<p><u><span style="font-size:12px"><strong><span style="color:#1f497d">Decision No. 329/2019 issued by KDIPA:</span></strong></span></u></p> <p>Kuwait Direct Investment Promotion Authority (<strong><span style="color:#1f497d">KDIPA</span></strong>) has issued a new decision no. 329 for the year 2019 ( the “<strong>Decision</strong>”) modifying the scoring mechanism for evaluating the investment licenses and granting incentives as per the authorities granted to <strong><span style="color:#1f497d">KDIPA</span></strong> under the law no. 116 for the year 2013.</p> <p>The modified scoring mechanism for evaluating the investment licenses (the “<strong>Evaluation Mechanism</strong>”) focused on the development of human resources for nationals and also the sustainable development which will affect positively the long term Kuwait National Development Plan 2035.</p> <p>As per the <strong>Decision</strong>, there are five main categories for <strong>Evaluation Mechanism</strong> and fifteen sub-categories, those categories are:-</p> <p><strong><u><span style="font-size:9.0pt">1- Transfer & Settlement of Technology</span></u></strong></p> <p style="margin-left:40px"><span style="font-size:10.0pt">1. A. Innovative tangible technology </span></p> <p style="margin-left:40px"><span style="font-size:10.0pt">1. B. Innovative intangible technology</span></p> <p style="margin-left:40px"><span style="font-size:10.0pt">1. C. Research & Development (R&D) for enabling knowledge creation</span></p> <p style="margin-left:40px"><span style="font-size:10.0pt">1. D. Modern management method</span></p> <p><strong><u><span style="font-size:9.0pt">2- Human Capital </span></u></strong></p> <p style="margin-left:40px"><span style="font-size:10.0pt">2. A. Job creation for nationals</span></p> <p style="margin-left:40px"><span style="font-size:10.0pt">2. B. Certified training programs related to specialization or core activity </span></p> <p style="margin-left:40px"><span style="font-size:10.0pt">2. C. Corporate scholarship programs</span></p> <p><strong><u><span style="font-size:9.0pt">3- Market Development </span></u></strong></p> <p style="margin-left:40px"><span style="font-size:10.0pt">3. A. Domestic market needs</span></p> <p style="margin-left:40px"><span style="font-size:10.0pt">3. B. Use of national products and services</span></p> <p style="margin-left:40px"><span style="font-size:10.0pt">3. C. Product Accreditation and Quality Management System </span></p> <p><strong><u><span style="font-size:9.0pt">4- Economic Diversification </span></u></strong></p> <p style="margin-left:40px"><span style="font-size:10.0pt">4. A. Contribution of non-oil sector to GDP</span></p> <p style="margin-left:40px"><span style="font-size:10.0pt">4. B. Industry, innovation & infrastructure </span></p> <p style="margin-left:40px"><span style="font-size:10.0pt">4. C. Fostering competitiveness</span></p> <p><strong><u><span style="font-size:9.0pt">5- Sustainable Development </span></u></strong></p> <p style="margin-left:40px"><span style="font-size:10.0pt">5. A. Corporate Social Responsibility</span></p> <p style="margin-left:40px"><span style="font-size:10.0pt">5. B. Environmental sustainability </span></p> <p><span style="font-size:10.0pt">The <strong>Decision</strong> also categorized the outcome of the application <strong>Evaluation Mechanism</strong> and if the application:-</span></p> <ol style="margin-left:40px"> <li><span style="font-size:10.0pt">Did not achieve <strong>30%</strong> (equivalent to <strong>4 points</strong>) then the application will be rejected.</span></li> <li><span style="font-size:10.0pt">Achieved <strong>30% - 55%</strong> (equivalent to <strong>5- 8 points</strong>) then the application will be accepted and the investor will obtain the investment license.</span></li> <li>Achieved <strong><span style="font-size:10.0pt">60% - 80%</span></strong> (equivalent to <strong><span style="font-size:10.0pt">9- 12 points</span></strong>) then the application will be accepted and the investor will obtain the investment license in addition to one incentive decided by the investor.</li> <li>Achieved <strong><span style="font-size:10.0pt">85% - 100%</span></strong> (equivalent to <strong><span style="font-size:10.0pt">13- 15 points</span></strong>) then the application will be accepted and the investor will obtain the investment license in addition to all incentives listed in the Law no 116 for the year 2013.</li> </ol> <p>Also <strong><span style="color:#1f497d">KPIDA</span></strong> is planning to increase the incentives which will be granted to the investors linking these incentives with the new subcategories listed in the <strong>Decision</strong>, as example the investors will be granted tax exemptions for the amounts spent on <strong>Sustainable Development</strong> and <strong>Human Capital</strong>.</p> <p>It is clear that <strong><span style="color:#1f497d">KDIPA</span></strong> is seeking to maximize the available human resources through Cooperating with international investors to support the long term economic plan which will require new well educated creative generation.</p> <p>For any information or clarification do not hesitate to contact us.</p> <p><strong>MMA Law</strong></p> <p><strong>info@mmakw.com</strong></p> <p><span style="font-size:11px"><strong>Kuwait, on 31<sup>st</sup> July 2019</strong></span></p> <p style="text-align:justify"> </p> <p> </p>
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