Description
In 2013, Kuwait attracted USD2.3 billion of FDI, more than GCC peers Bahrain, Oman, and Qatar, but less than Saudi Arabia and the United Arab Emirates (UAE). Low levels of FDI limited efforts to diversify the economy away from the petroleum sector. Barriers to foreign investment exist, including long bureaucratic delays in starting new enterprises, agency and sponsorship requirements, and a local business culture heavily based on clan and family relationships that often preclude foreign participation.
