Newest Chairman's Club Members

Newest Corporate Member - Small Enterprise

Join us for our Annual Iftar Dinner! The evening will be filled with plenty of opportunities for you to socialize and get to know other AmCham Members and friends, while you enjoy delicious Arabic food and live music. During this event, you will also be able to hear from our very special guests.

Click to Register

Dear members:

Do you want to expand your business into the United States? Do you need guidance on finding the right business location, the right partners, or the right market?

Join the U.S. Embassy in Kuwait for the 2023 SelectUSA Investment (SelectUSA Investment Summit (selectusasummit.us) submit to be held in person from May 1-4 in Washington, DC. You are invited to join the Embassy’s delegation to the summit. We hope you can make it.

The annual Summit is for investors of all sizes – including established multinationals, small or medium-sized enterprises, and high-growth start-ups. The United States is incredibly diverse, and the Summit brings that diversity together into one building: any company can find the people, the resources, and the market it needs to be successful. The Summit will showcase investment opportunities from every corner of the United States, while high-profile business and government leaders share insight on the latest business trends. Participants will find the practical tools, information and connections they need to move investments forward. 

As international investors have recognized the United States as the premier investment destination in the world, the 2022 SelectUSA Investment Summit hosted by Secretary of Commerce Gina Raimondo was a great success. It attracted more than 3,600 attendees and it has directly impacted more than $59 billion in new U.S. investment projects. Historically, the Investment Summit attracts more than 1,200 business investors from approximately 70 international markets who join economic developers from almost all U.S. states and territories.

If you are interested to join or for more information, please contact Rasha Al Muhtaseb at rasha.al-muhtaseb@trade.gov

Link to Apply (Please inform us to follow-up on your application)

March 6: AmCham Kuwait's B&F FG together with the Union of Investment Companies, and the support of EY, hosted and co-delivered a first-of-its-kind certification session on Environmental, Social, and Governance (ESG). Read more

March 6: AmCham Kuwait Members participated in a private tour organized by HORECA Kuwait. Members joined throughout the evening, as they visited each of the booths, and were able to taste different products while networking with exhibiting companies and exhibiting member companies. Read more

March 7: AmCham Kuwait and some of its member companies including NOV Wellbore Technologies, Ahli Bank of Kuwait, Jumeirah Messilah Beach Hotel Resort & Spa, and EY, participated at AIU's career fair. The career fair was a great opportunity for students to meet prospect employers and find internships as well as job opportunities within these entities. Read more

March 8: AmCham Kuwait's Knowledge Economy Focus Group hosted its first-ever opening event with the support of Knowledge Associates on ' An Introduction to Knowledge Economy & Asset Management'. The session was done by Ron Young, Founder of Knowledge Associates International Group. Young highlighted the importance and benefits of the knowledge economy and provided participants with concrete guidance on how to start their frameworks for intellectual / knowledge asset management. The discussion was directed to government and private sector entities, and participants were provided with the ISO guidelines on knowledge management standards. Read more

March 8: AmCham Kuwait's Healthcare Focus Group held its first in-person roundtable discussion with some key-healthcare representatives, in attendance and support of the Portuguese Business Council. The meeting was chaired by Viatris, and the group spoke about the challenges and opportunities within the healthcare sector, with the goal of collaborating together to support and advocate on subjects like mental healthcare as well as telehealth. Read more

March 14: AmCham Kuwait’s Women in Business Focus Group in partnership with the U.S. Embassy of Kuwait hosted its second diversity & inclusion diwaniya of the year, sponsored and hosted by the Waldorf Astoria Hotel. This is the second of the four quarterly diversity and inclusion diwaniyas leading up to the end-of-the-year summit. We look forward to your continuous support. Read more

March 15: We would like to thank @mbmckuwait and @Jeepkuwait_ for hosting the U.S. Alumni and IVLP reception at their showrooms! the event was done in partnership with the U.S. Embassy @usembassyq8, @abck1985, @mbmckuwait @JeepKuwait, and @uskaaofficial. The event highlighted the bilateral relationship between Kuwait and the U.S. as Kuwait continues to send thousands of students to study in the U.S. each year. During the reception, partners raised awareness about American innovation and quality standards within the automotive sector. We hope that everyone enjoyed it! Read more

March 27: AmCham Kuwait recently visited the Del Monte fresh-cuts facility to get a first-hand look at the company's operations and learn more about its products and standards. The visit was part of AmCham Kuwait's ongoing efforts to learn more about sustainable packaging processes and best practices.

We thank Del Monte for inviting us to have such an insightful tour! Read more

Arizona Commerce Authority Opportunities

Here are five things that should be on your radar:

Global battery manufacturer LG Energy Solution announced it is investing $5.5 billion to build a battery manufacturing complex in Queen Creek, creating thousands of jobs. The project represents North America's largest single investment for a stand-alone battery manufacturing facility.
In her International State of the State address, Governor Hobbs announced the opening of ACA Trade and Investment offices in Taiwan and the Republic of Korea. The offices will serve as platforms to increase economic collaboration and foreign direct investment opportunities, as well as expand Arizona’s global competitiveness.
Arizona ranked first in the nation in 2022 for foreign direct investments (FDI), attracting over $31 billion, according to FDI Markets. The state’s FDI was led by TSMC, as well as LG Energy Solution, XNRGY Climate Systems, Chang Chun Group and Nestle.
In 2022, Arizona companies exported a record amount of goods totaling $27.2 billion. Arizona’s largest category of exports occurred in aerospace parts and products ($4.6 billion) and semiconductor and other electronic components ($4.4 billion), and the state’s top export countries included Mexico at $8.7 billion and Canada at $2.5 billion.
Arizona ranked number 1 in the Mountain Region in Site Selection Magazine’s Governor’s Cup rankings. Arizona led the region for the fifth year in a row, showcasing the state’s high-impact projects in manufacturing, semiconductor and automotive sectors from 2022.

Below you will find information on the latest federal funding opportunities.

My best,

Sandra Watson

President & CEO

Arizona Commerce Authority

Click here for more details

ABK’s Annual General Assembly Approves 8% Cash Dividends and 5% Bonus Shares

Al Ahli Bank of Kuwait (ABK) held its Ordinary General Assembly for the fiscal year ending December 31, 2022, attended by 92.8 % of shareholders. The Chairman of the Board of Directors, Mr. Talal Mohamed Behbehani, presided over the meeting with the participation of the Group CEO, Mr. George Richani, and members of the Board of Directors and Executive Management. Read more...

AIU Career Fair | Bridging students and employers

American International University Kuwait (AIU) successfully hosted its inaugural Annual Career Fair on March 7th, 2023, which saw an impressive turnout of over 25 prominent companies from various industries. More than 500 AIU students attended the event, gaining valuable knowledge on industry trends, potential career paths, employment opportunities, and internships. The event was organized by the university's career services department, which aimed to provide AIU students with experiential learning opportunities and connect them with top employers. Read more...

The U.S. Embassy, AmCham Kuwait, and Al Mulla & Behbehani host the U.S. Alumni reception at the JEEP showroom

On March 26, 2023, the U.S. Embassy partnered with ABCK-AmCham Kuwait, Al Mulla & Behbehani Motor Co., and USKAA to host their first U.S. Alumni and International Visitor Leadership Program (IVLP) networking reception. The event highlighted the bilateral relationship between Kuwait and the U.S. as Kuwait continues to send thousands of students to study in the U.S. each year. During the reception, partners raised awareness about American innovation and quality standards within the automotive sector. Read more...

Dartmouth Extends Pact With American University of Kuwait

Leaders from the American University of Kuwait traveled to Dartmouth this week to meet with President Philip J. Hanlon ’77 and reaffirm their commitment to advancing liberal arts education in the Persian Gulf region and continuing cross-cultural collaborations between faculty, students, and staff at both institutions.

President Hanlon and AUK President Rawda Awwad signed a memorandum of understanding in a ceremony attended by representatives from both institutions Wednesday, extending the 20-year Dartmouth-AUK Program for another five years.

Dell Technologies Strengthens Security Portfolio with New Services and Solutions

Dell Technologies is announcing new security services and solutions to help organizations protect against threats, respond to attacks and secure their devices, systems and clouds.

Seventy-two percent of IT business leaders and professionals believe the changing working world exposes their organization to even greater risk.[i] The highly distributed IT environment creates new opportunities for cybercriminals and require organizations to transform their approach to securing and recovering their data and systems. Dell’s new security offerings help tackle these challenges so organizations can reduce risk and protect their business. Read more...

EQUATE GROUP ANNOUNCES YEAR END 2022 FINANCIAL RESULTS

The EQUATE Group, a global producer of petrochemicals and the world’s leading supplier of Ethylene Glycol, announced its full-year earnings for 2022 this week.

The EQUATE Group reported total revenue of US$3,947 million in 2022, compared to US$4,159 million in 2021. The Group also reported a net income after tax of US$611 million and EBITDA of US$1,217 million, compared to US$1,109 million and US$1,735 million, respectively, for 2021.

In the face of changing market conditions, EQUATE remained resilient. Through cost positioning and feedstock, EQUATE was able to respond to demand trends and optimize margins, resulting in a low-cost operating model and strong cash conversion. Read more...

GAC wins ShipTek Best Shipping Agency Award | GAC

GAC has been named the best shipping agent in the 16th edition of ShipTek International Awards, which recognise companies that have made significant contributions to the maritime industry. It is the second time it has won the award, following its success in 2021.

Organised by Biz Events Management, the awards ceremony was held in conjunction with a two-day maritime, offshore and oil & gas conference in Dubai. Read more...

Honeywell Invests In Energy-As-A-Service Market Leader Redaptive To Drive Private Sector Energy Contracting

ATLANTA, March 29, 2023 /PRNewswire/ -- Honeywell (NASDAQ: HON) today announced a strategic investment in Redaptive, which will accelerate a collaboration to bring Energy-as-a-Service (EaaS) capabilities to private sector-owned commercial and industrial buildings.

This investment helps enable the rapid deployment of technologies designed to reduce carbon emissions across a large portfolio of buildings. This collaboration combines Honeywell's experience in energy savings performance contracting (ESPC) and building controls capabilities with Redaptive's innovative data technology and EaaS platform. It provides customers with more ways to baseline current energy usage and reduce consumption to achieve their sustainability goals - with little-to-no upfront investment. Read more...

Lockheed Martin Developing Long Range Maneuverable Fires Missile For U.S. Army

Grand Prairie, Texas, March 27, 2023 – The U.S. Army’s Aviation and Missile Center has selected Lockheed Martin (NYSE: LMT) to develop an advanced propulsion Long Range Maneuverable Fires (LRMF) missile. The missile can be fired from existing Army launchers to defeat distant threats at ranges that significantly exceed those of the PrSM baseline.

“Lockheed Martin is partnering with the U.S. Army to give soldiers a decisive edge on the battlefield by extending their reach,” said Steven Botwinik, vice president of Advanced Programs Execution and Transition at Lockheed Martin Missiles and Fire Control. “With half a century of expertise integrating advanced propulsion systems and supporting the Army’s precision fires ecosystem, we are ready to develop a solution that significantly extends PrSM’s range.” Read more...

L3HARRIS VIPER SHIELD ELECTRONIC WARFARE SYSTEM ACHIEVES CRITICAL DESIGN REVIEW MILESTONE

MELBOURNE, Fla. — L3Harris Technologies (NYSE: LHX) announced today achieving a critical design review (CDR) milestone for the Viper Shield electronic warfare (EW) system, which will provide improved offensive and defensive EW capabilities for F-16 Block 70/72 Foreign Military Sales (FMS) aircraft. Read more...

Raytheon Technologies awarded $619 million US Navy contract for SPY-6 family of radars

TUCSON, Ariz., (March 29, 2023) — Raytheon Technologies was awarded a $619 million contract to continue to produce AN/SPY-6(V) radars for the U.S. Navy. This is the second option exercised from the March 2022 hardware, production and sustainment contract that is valued up to $3 billion over five years. Read more...

Shell CEO plans to ‘thrive in partnership’ with Middle East governments

Wael Sawan created history when he took office as Shell’s first CEO of Middle East origin earlier this year. And he wants to leverage his affiliation with the region to strengthen relationships with the Middle East nations.

“My vision here is one of continued investment,” Sawan told Oil & Gas Middle East in an exclusive interview. Read more...

Zain platinum sponsor of Microsoft’s 2nd Smart Government Summit

Kuwait: Zain, Kuwait’s leading digital service provider, announces its platinum sponsorship of the second edition of Microsoft’s Smart Government Summit, held in collaboration with the Central Agency for Information Technology (CAIT).

The event celebrated the 25th anniversary of Microsoft’s operations in Kuwait and was held under the patronage and attendance of H.E. Minister of Commerce and Industry and Minister of State for Telecommunications and Information Technology Mazin Al Nahedh. Read more...

Kuwait says output cuts support stability as oil market surges

KUWAIT/LONDON: Kuwait’s Deputy Prime Minister and Oil Minister Bader Al-Mulla said that the voluntary reduction of production from countries participating in the OPEC+ agreement is a proactive move to bolster the stability of oil markets amid developments in global economic conditions and their accelerating effects. This was in Mulla’s statement, which was conveyed through a statement by the ministry of oil, after he headed Kuwait’s delegation participating in the 48th meeting of the Joint Ministerial Monitoring Committee (JMMC), which was held Monday via videoconference. Read more...

PAM IDs factors tied to halting of labor subsidy disbursement

KUWAIT CITY, April 2: The Public Authority for Manpower (PAM) has identified the factors that led to the suspension of the disbursement of national labor subsidy for those registered under Chapter Five, reports Al- Anba daily. In a recent press statement, PAM revealed that the reasons for stopping the payment of labor subsidy as follows: Read more...

MoI supermarkets denying entry to expat shoppers

KUWAIT: After receiving several complaints about cooperative societies banning expatriates from entering to shop and buy products during the holy month of Ramadan, Kuwait Times found expats are allowed to enter co-ops in many areas, but several Police Co-operative Societies are denying people entry unless they are Kuwaitis or working for the interior ministry. Read more...

Crown Prince urges military to stay prepared, upgrade system

KUWAIT: Representative of His Highness the Amir and the Supreme Commander of the Armed Forces Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah His Highness the Crown Prince Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah has instructed the military personnel to keep vigilant and execute drills to upgrade their preparedness. This came in a speech delivered by His Highness the Crown Prince during his visit to the Defense Ministry’s headquarters on Sunday evening where he was accompanied by His Highness the Prime Minister Sheikh Ahmad Nawaf Al-Ahmad Al-Sabah. Read more...

Kuwait workforce at 2 mn – Average wages of Kuwaitis KD 1,493, expats KD 338

KUWAIT CITY, April 2: Al- Shall Weekly disclosed that the number of workers in Kuwait has reached 2.037 million as at the end of 2022, excluding the domestic workers — 8.2 percent increase compared to 1.882 million by the end of 2021 according to the Central Statistics Bureau, reports Al-Qabas daily. These workers are classified according to number, gender, nationality, wage, age and others. Read more...

KOC to float new tender of gas desalination plant

KUWAIT CITY, March 29: MEED magazine quoted informed sources as saying that the Kuwait Oil Company plans to float a tender for a new gas desalination plant in western Kuwait, reports Al-Rai daily. The daily quoting oil sources added that the plans for the project are still in the initial stage and are expected to be launched in the first or second quarter of 2024. It is estimated that the value of the main contract for the project is around $300 million, but it could be much bigger depending on the final specifications of the planned facility. Read more...

U.S. Army, Kuwaiti partners inaugurate five warehouses

KUWAIT: The US Army and Kuwait partners celebrated on Wednesday the completion of five logistics warehouses at a cost of $27 million at Camp Arifjan. On the sidelines of the Army Prepositioned Stock (APS)-500 series warehouses’ ribbon-cutting ceremony, Col Naval Staff Abdullah Waleed Al-Zawawi stressed Kuwait’s keenness to follow up on military events and be fully prepared for all threats at the regional or global level. Read more...

Kuwait’s labor force grows 8.2 percent

KUWAIT: The latest labor force statistics in Kuwait issued by the Central Statistical Bureau (CSB) as of the end of 2022 indicate that the size of labor force in Kuwait increased by 8.2 percent and reached 2.037 million employees, excluding the number of household workers (1.882 million workers as of the end of 2021). Adding the household labor sector, which is about 753,000 workers, the total reaches 2.79 million workers (2.476 million workers as of the end of 2021). Read more...

Avoid traveling to Tanzania and E Guinea, MoH warns

KUWAIT: Kuwait Ministry of Health (MoH) recommended on Saturday “to avoid traveling to Equatorial Guinea and Tanzania.” This was after the announcement that the ministry is monitoring outbreaks of Marburg hemorrhagic fever virus in the two countries. In a statement, the Ministry of Health recommended that Kuwaitis should avoid the two countries and the neighboring countries and follow the preventive measures issued by the local health authorities so as to take the necessary preventive measures to reduce the risk of infection. Read more...

Public sector salaries devour 80% of oil income at 88%

KUWAIT CITY, April 2: The Banker magazine has reported that after lackluster performance since 2019, due to the COVID-19 pandemic and lower global oil prices, the Kuwaiti economy grew strongly in 2022 on the back of a recovery in both energy production and prices, reports Al-Rai daily. The sources added that after the growth contracted by 8.9 percent in 2020 – the largest decline in the Gulf region – the country’s economic growth recovered to 1.3 percent in 2021 and 8.7 percent in 2022, according to International Monetary Fund data. Read more...

KOC awards tender for Jurassic wells to ‘second lowest’ bidder

KUWAIT CITY, April 3: The Kuwait Oil Company has decided to award the tender for security and safety improvements and the control, supervision and data collection system for Jurassic wells in northern Kuwait to the Heavy Engineering Industries and Shipbuilding Company, reports Al-Anba daily. The company had reportedly submitted the second lowest offer at 15.8 million dinars and conformed to the conditions and specifications. Read more...

PAI works on expansion policies for industrial sectors

KUWAIT CITY, March 26: The Public Authority for Industry said it is currently working on a draft for national industrial strategy for the State of Kuwait until 2035 in cooperation with the Gulf Organization for Industrial Consulting (GOIC), an organization under the umbrella of the General Secretariat of the Gulf Cooperation Council countries headquartered in Doha, Qatar, reports Al- Qabas daily. The daily added, a specialized working team includes members from both parties. Read more...

U.S. envoy lauds KRCS’s humanitarian efforts

KUWAIT: Charge d’Affaires James Holtsnider of the US Embassy in Kuwait praised on Wednesday the efforts made by Kuwait Red Crescent Society (KRCS) in aiding disaster-affected people. In a statement after his meeting with KRCS’s Chairman Dr Hilal Al-Sayer, Holtsnider said that KRCS has many humanitarian accomplishments and it supported many people in need. Read more...

Women’s empowerment ‘key pillar of Vision 2035’

KUWAIT: The secretary general of the Supreme Council for planning and Development Dr Khalid Mahdi, stressed that the empowerment of women is a key pillar of the Kuwait Vision 2035 and the development plan for their involvement in the labor market in a way that achieves the fifth goal of sustainable development. Read more...

2023 SelectUSA Investment Summit: Commerce Secretary Gina Raimondo Announces Speaker Lineup, Includes White House Senior Officials, U.S. Cabinet, U.S. Governors, and Prominent Private Sector Leaders

Today, the U.S. Department of Commerce and SelectUSA announced the lineup of global executives, business leaders and U.S. government representatives who will address participants at the 2023 SelectUSA Investment Summit from May 1-4 in the Washington, D.C. area.

Hosted by U.S. Secretary of Commerce Gina Raimondo, notable speakers presenting at the conference include White House Senior officials, Cabinet members, U.S. governors, thought leaders and C-suite executives from U.S. and global companies. Read more...

Urban Producers, Public Invited to Attend April Meeting of Federal Advisory Committee for Urban Agriculture and Innovative Production

WASHINGTON, March 30, 2023 – The U.S. Department of Agriculture (USDA) encourages urban producers, innovative producers and other stakeholders to submit comments for and virtually attend the fifth public meeting of the Federal Advisory Committee for Urban Agriculture and Innovative Production (Committee) on April 18, 2023. Read more...

Contracts For March 31, 2023

NAVY

Huntington Ingalls Inc., Pascagoula, Mississippi, is awarded a $1,295,000,013 fixed-price-incentive modification to previously awarded contract N00024-18-C-2406 for the procurement of the detail design and construction of the Amphibious Transport Dock ship, LPD 32, the third LPD 17 Flight II ship. Work will be performed in Pascagoula, Mississippi (82%); Crozet, Virginia (3%); Beloit, Wisconsin (2%); and New Orleans, Louisiana (2%), with other efforts performed at various sites throughout the U.S. (11%). Work is expected to be completed by September 2029. Read more...

Interior Department Announces Start of Turbine Construction for Commercial-Scale, Offshore Wind Energy Project in Federal Waters

In a major milestone towards meeting the Biden-Harris administration’s goal to deploy 30 gigawatts of offshore wind energy by 2030, the Department of the Interior today announced that the Bureau of Safety and Environmental Enforcement (BSEE) has completed its review of critical design and installation reports for the South Fork Wind project, clearing the way for the start of turbine construction offshore Rhode Island and New York. This will be the first commercial-scale, offshore wind energy project to start turbine construction in federal waters in the United States. Read more...