Kuwait achieves new economic milestones

The mega projects showcased at KIF 2018 to boost infrastructure development are being implemented as per schedule.
Updated 16 December 2018

Kuwait achieves new economic milestones

Kuwait picked up the pace to accomplish further milestones in its efforts to achieve the pillars of the National Vision 2035 for “New-Kuwait,” of which was the convening of the second edition of the Kuwait Investment Forum (KIF 2018).

Sheikh Dr. Meshaal Jaber Al-Ahmad Al-Sabah, director general of Kuwait Direct Investment Promotion Authority (KDIPA), said: “KIF 2018 sought to showcase the serious resolve of the government to streamline the business environment and ensure that Kuwait’s investment climate is sufficiently attractive to interested investors, through the concerted efforts of both the public and private sectors to advance the promising sectors, and launch megaprojects.”

This will duly fulfill the overall commitment to diversify the national economy and to foster the country’s real wealth, its creative and talented youth.”

These efforts, following the KIF 2018, included important steps taken to enhance Kuwait’s international position, and build an extensive network of strategic relations with major countries. In this regard, Kuwait signed several agreements and MoUs during the state visit of Kuwaiti Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah to China in July. These agreements cover a broad framework of activities including trade exchange, infrastructural projects, development of industrial and technologically advanced zones, as well as supporting Kuwait’s participation in the Belt and Road Initiative. 

Furthermore, in September, the emir held a roundtable with leading American business executives to further strengthen trade and economic relations between the two nations. 

The mega projects showcased at KIF 2018 to boost infrastructure development are being implemented as per schedule. 

Investment forum draws global startups to KAEC

Updated 24 February 2020

Investment forum draws global startups to KAEC

More than 60 startups from all over the world including Egypt, the UAE, Lebanon, Turkey, Greece, Poland along with 27 Saudi teams qualified for the final round of MITEF Saudi Startup Competition are set to participate in the Startups Investment Forum (SIF), which will be held in King Abdullah Economic City (KAEC) from March 5 to 7.

SIF is organized by the MIT Enterprise Forum Saudi Arabia, part of the MIT Enterprise Forum global network, in collaboration with Bab Rizq Jameel, an initiative of Community Jameel, and in partnership this year with KAEC and the Saudi General Investment Authority (SAGIA) under the theme “Invest in Saudi Arabia,” as strategic partners. The nine winners of the 4th MITEF Saudi Startup Competition will be named at the StartSmart Conference on March 7, which will include 13 local and international speakers from prestigious universities and organizations.

The StartSmart Conference is a one-day conference that aims to inspire, connect, coach and inform entrepreneurs to succeed faster and smarter. It is a place where all entrepreneurs, angel investors, venture capitalist firms, students, business organizations and high leadership and executives from private and government sectors will meet and engage.

The Startup Investment Forum is a three-day exhibition aimed at providing startups and small businesses around the globe the opportunity to expand their businesses to the Saudi market and meet investors. The event will host workshops delivered by executives from Prince Mohammad bin Salman College of Business and Entrepreneurship and provide opportunities for networking.

Founded in 2015 as part of a global network dedicated to promoting entrepreneurship and innovation worldwide, MITEF Saudi Startup aims at promoting and enriching the entrepreneurship ecosystem in Saudi Arabia, and to celebrate and support all potential startups and entrepreneurs in Saudi Arabia.

MIT Enterprise Forum Saudi Arabia is part of a global network of chapters dedicated to the promotion of entrepreneurship and innovation worldwide. MITEF informs, connects, and coaches Saudi entrepreneurs — enabling them to rapidly transform ideas into companies. 

Founded in 2015 with the goal of promoting and enriching the entrepreneurship ecosystem in Saudi Arabia, MITEF aims to celebrate and support all potential startups and entrepreneurs in the Kingdom through the startup competition.

The MITEF Saudi Startup Competition has three tracks: Startups Track, Social Track and Ideas Track. The competition offers a cash prize of SR325,000 ($86,630), in addition to workshops and training sessions supervised by specialists and experts in all economic and social sectors. The finalists will have the opportunity to participate in StartSmart, one of the MIT Global Forum’s programs organized before the announcement of the winners and attended by specialists from MIT University, US.