Kuwait Municipality has appointed a global consortium comprising Dar and Perkins+Will to draw up Kuwait's fourth Master Plan, in line with the vision of His Highness the Emir to transform the country into a commercial and financial hub by 2040.
The contract was signed by David Green, principal at leading consultancy Perkins+Will, and Beshara Wakim, the director of operations of Dar Al Handasah for design and consultancy in the presence of His Highness Prime Minister Sheikh Jaber Al Moubarak Al Hamad Al Sabah, reported Kuna.
The municipality said it has embarked on steps, in cooperation with the Kuwait Direct Investment Promotion Authority (KDIPA), for identifying the financial areas in the country where foreign firms will be allowed to operate with no local agents, and permitted to own these areas with tax and customs exemptions, it stated.
Several other government bodies have been involved in the process, like the Ministries of Commerce and Industry, and Finance, offering administrative facilities to the foreign firms in these areas.
Head of structural planning at the Kuwait Municipality, Saad Al-Muhilbi referred to the Fourth Structural Plan 2040 as the country's "urban constitution and road map for development projects.
Kuwait has been among the first countries of the region that adopted structural plans, which made it free of slums, said the report.Green stressed the importance of the Fourth Plan that will turn Kuwait into an innovation center.
The fourth structural plan of Kuwait contributes significantly to the implementation of the visuals Amir transform Kuwait into a financial and commercial center regionally and internationally, attractive investment climate, saving, and conservation of natural and environmental resources of the country, said the report.
The development plan set by the Kuwaiti Government reflects the state's clear vision for the future, it stated.
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