The Offset Program Objectives

The Economic Development Plan pursued by the Kuwait Government, aims to achieve the following objectives:

1. Contribute to the privatization process of the government.
2. Enhance the growth and diversification of the Kuwaiti private sector.
3. Promote creation of employment for Kuwaiti nationals in the private sector.
4. Promote investments in and development of quality education and scientific research activities.
5. Promote the transfer and upgradation state of the art and knowledge intensive technologies required for the State of Kuwait.

The Offset Program is intended to be used as one of the primary vehicles in order to achieve the objectives laid out in the Economic Development Plan pursued by the Government.

The Offset Program aims to:

1. Promote collaborative business ventures between, Kuwaiti nationals and foreign contractors with an emphasis on investments in the Kuwait private sector.
2. Increase exports of domestic goods and services and substitution of foreign goods with domestic ones.
3. Enhance the ability of the Kuwait private sector to sustain high- technology industries through encouraging educational and training opportunities to Kuwaiti nationals both locally and abroad.
4. Facilitate transfer of state-of-the-art technology to the Kuwait private sector.
5. Support the Foreign Aid Program of the State of Kuwait.

While evaluating business collaborations, emphasis will be on its ability to generate foreign exchange earnings through exports and income transfers from abroad and substitution of imported goods for indigenously produced ones.

Creation of skilled jobs for Kuwaiti nationals is a high priority of the government and the ongoing education and training of Kuwaiti nationals for all levels of employment is a key objective of the Offset Program. The aim is to create an experienced, competent and highly skilled Kuwaiti labor force which can be competitive with the global markets.

Transfer of high technology is a primary objective of the Offset Program. The technology transferred must be updated on an ongoing basis in order to stay abreast of the latest developments and innovations and thereby maintain a competitive business base.