Kuwait British Business Centre
British Embassy, Dasman, Kuwait
Tel: +96594967063 / +96594937106
To find out more about opportunities in Kuwait:
The Kuwait British Business Centre is a UK Government initiative working in partnership with the Department for International Trade and the British Embassy to foster and strengthen bi-lateral business ties between Kuwait and the UK. The Kuwait British Business Centre provides the best possible support to UK and Kuwaiti companies looking to do business together by delivering 3 outstanding services; Trade Services, Business Centre Services & Subscriber Services.
Trade Services - The Kuwait British Business Centre delivers the Department For International Trade’s volume services in Kuwait. Whether it is market research, introductions to Kuwaiti agents, distributors or potential partners, the Kuwait British Business Centre helps in organizing a business trip for a UK company from start to finish.
Business Centre Services – The KBBC professional, connected Business Centre, developed from scratch is in the shadow of the historic British Embassy Kuwait. UK Companies can establish a cost effective and simple presence in the market by using the KBBC business centre. With rental periods from 1 day to 12 months, the KBBC Business centre offers the flexibility a business requires. UK Companies can also benefit from access to and further support from and British Embassy Kuwait staff, located just next door.
Subscriber Services – Our KBBC Subscription services are offered for UK and Kuwaiti companies who meet criteria. The KBBC runs regular events in both the UK and Kuwait where subscribers can interact and meet with other top British and Kuwaiti business leaders.
The government of Kuwait is continuing its drive to encourage private sector investments, having recently announced plans to invite proposals on several large-scale, public-private partnership (PPP) projects. Successfully launching new PPPs will be a top priority for the government moving into 2017, as it seeks to maintain momentum on its infrastructure agenda despite a mid-2014 decline in global oil prices, which led to a record deficit of KD 8.7bn ($28.5bn) projected for FY 2016/17.
Kuwait feels the PPP model offers mutual benefits and should see private investors help offset the costs of mega projects. This in turn should help Kuwait balance its books, and generate new investment opportunities for private developers and contractors.
In a November report published by the National Bank of Kuwait, the state’s projects market was maintaining healthy momentum during the third quarter, when KD 1bn ($3.3bn) worth of contracts were awarded – a 14.8% quarter-on- quarter increase. This brought the total value of contracts awarded in the first nine month of 2016 to KD 3.6bn ($11.8bn), of which KD 1.5bn ($4.9bn) were for oil and gas projects.
MEED forecasts an additional KD 2.3bn ($7.5bn) in contracts will be awarded by the end of the year, while the total value of awarded projects is set to rise to KD 11.5bn ($37.7bn) in 2017, surpassing last year’s record of KD 10bn ($32.8bn). Strong government commitments to both project delivery and PPP implementation are expected to compensate for lower oil receipts and a subdued foreign direct investment environment, and media reports suggest the private sector could benefit from at least eight PPP projects in the country in the years ahead.