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1. Studying investment related legislation and proposing relevant comments, particularly those relating to the efficiency and integrity of managing investment economic projects. 2. To prepare and launch investment projects and to promote the same. 3. To propose the systems that can guarantee and ensure investment against different risks and to protect the customer. 4. To propose the addition of other fields required by the country in addition to the fields already provided for the investment law. 5. To inform local and international market of all matters that can activate investment. 6. To publish and distribute books, magazines and literature relating to the promotion of projects, activation of investment and financial services and to prepare investment directory containing all required investment information. 7. To convene conferences, seminars and to organize visits and meetings for investors to introduce investment opportunities, guarantees and incentives. 8. To provide minor visibility studies on the companies applying for finance. 9. To provide marketing management which studies investment methods and provide information on the markets. 10. Taking part in local and international seminars, meetings, conferences and exhibitions to introduce the Kuwaiti economy and investment opportunities in Kuwait. 11. To introduce the requirements of companies, including participation or made of sale. 12. Direct contact with international companies to invite them to visit the State of Kuwait. 13. To encourage the current companies to expand their business and add new investments tools. 14. To encourage investment companies to expand the provisions services to different categories of investors. 15. To link projects with scientific research and planning. Thus institutions will attract more foreign investments to Kuwait via linking performance development policy in the stock exchanges with all economic and financial policies that may be adopted. 16. To initiate a campaign to find out the problems of the Kuwaiti investors via holding meetings between the union and investors all over Kuwait. 17. To expedite setting up several database to provide all information to investors in conformity with the principle of transparency. Further to prepare and to publish periodical reports on the activities of the union, to prepare more advertising media that serve investor interests, including news letters, CDs, booklets, websites, etc. 18. Field follow up of the projects after establishment to find out any impediments that hinder execution and to prompt action against the same as well as to provide all services and assistance required by companies. 19. To tackle problems that may arise between the members of the participating companies. 20. To employ internal arbitration technique to settle the disputes that may arise between members. 21. To prepare and implement an ambitious program for the promotion of local and foreign investments. 22. Effective participation in the territorial and international gatherings and conferences concerned with investments to introduce potentialities of the Kuwaiti economy and to encourage the flow of investments. These committees are headed by multi parties' International Investment Agreement Negotiations and Evaluation Follow up Committee within the scope of the organization of economic development and cooperation. 23. To activate the role of the commercial representation offices abroad to promote investment in the Kuwaiti developmental projects among foreigners who have savings but they lack knowledge of the available investment opportunities in Kuwait via expansion of meetings, visits, and calling for the convention of seminars and workshops inside Kuwait and abroad. Further to publish and distribute pamphlets among businessmen to attract their funds to be invested in Kuwait. 24. To create permanent mechanism for promotion of investments coming from advanced countries based on the fact that these countries are the source of foreign investment 25. To prepare promotional plan that design to attract more local investments in Kuwait. 26. To publish appendixes to international literature and magazines dealing with Kuwait economy and reform policy in Kuwait to promote investment opportunities in Kuwait. Further to join the private sector (member of the union) to finance the publication of these appendixes. 27. Continuous follow up of the agreed upon projects, either by the members of the union or from abroad or via participation. In this respect it must be ascertained that there is clear business plan for the investors containing achievable objectives and to provide experts who can assist investors in the treatment of any problems that may arise. 28. To give due care to the issues that serve the objectives of the investment companies and achieve economic stability, including the following: a- To make legislative reforms that serve and render more opportunities for investments and reinforce positive atmosphere for investment in Kuwait. In this way appropriate form may be made for such amendments along with seeking the assistance of investors and tackling negative respects that may result from application. b- To organize relations between investment community –present or new- and government authorities via concluding the ideal form which determine and organize this business. Further to organize and select the cadre that deal with the concerned institution. 29. To obligate the government to establish the financial, monetary, credit and tax policies as well as all policies which govern investment atmosphere and achieve stability. Commitment to such policies must be for declared time period. Moreover the government must oblige itself that it will not issue sudden orders. Further there must be complete transparency regarding any decision relating to public interest and contribution in the study of the investment community. 30. To achieve cooperation with the Central Bank, Kuwaiti Chamber of Commerce and Industry, the financial and economic committee in the National Assembly, the concerned ministries (Ministry of Commerce and Industry and Ministry of Finance) insurance companies and banks. Cooperation with these concerned authorities will be made via setting up a complex for investor services having representatives form these authorities to facilitate formalities, save time and efforts, to provide advice to investors and to tackle their problems. Courses must be provided on the importance of in vestment in the State of Kuwait and privileges as well as advantages of investment in the State of Kuwait in addition to the expected revenues and risks. Due to the fact that legislation creates appropriate economic atmosphere, so to the extent the government succeeds in the promulgation of appropriate legislation that suit its local conditions and conform to international variables, the more it will be able to attract investors and to increase investment and growth rates. In this way exports will be increased and unemployment will be reduced. It is agreed upon that law must reflect the political, economic and social conditions prevailing in the society as well as the conditions of this society. Moreover it is a tool to interpret policies, roles and procedures that achieve the objectives of the state. Hence legislative policies must conform to the economic and social policies of the state. |
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