The Union of Investment Companies hosted a delegation from the Embassy of the Republic of Ukraine in Kuwait during a meeting held on Monday, 25 th May 2026, at UIC’s premises.
Attendees from the Embassy included:
- H.E. Mr. Maksym Subkh Ambassador
- Mr. Volodymyr Kuruts Deputy Head of Mission
Attendees from UIC included:
- Mr. Abdullah Hamad Al-Turkait Chairman
- Ms. Fadwa Adel Darwish Secretary General
Mr. Abdullah Al-Terkait welcomed the delegation of the Embassy of Ukraine in Kuwait, expressing his appreciation for the visit and affirming the importance of strengthening bilateral relations between the two sides across various areas of mutual interest. He also emphasized the solid economic and investment ties between Kuwait and Ukraine, and the role played by the UIC in supporting the Kuwaiti investment sector and enhancing cooperation with relevant international bodies and institutions.
For his part, H.E. the Ambassador of Ukraine expressed his appreciation for the bilateral relations between Kuwait and Ukraine, reaffirming Ukraine's keenness to expand economic and investment cooperation with the Kuwaiti side, particularly given the available opportunities in the sectors of reconstruction, food security, energy, and infrastructure.
A number of promising investment opportunities in Ukraine were reviewed, especially in the sectors of housing, infrastructure, energy, agriculture, and digital technology, in light of reconstruction plans and future development programs. The institutional frameworks supporting this cooperation were also discussed, most notably the Joint Action Plan for the Strategic Dialogue between the Gulf Cooperation Council States and Ukraine for the period (2025–2030), as well as the bilateral investment promotion and protection agreements concluded between the two countries, which provide a conducive contractual and institutional framework for Kuwaiti companies to participate in these opportunities.
During the meeting, attendees discussed ways to enhance economic and investment cooperation between the two sides. The two parties agreed to prepare an economic and commercial Memorandum of Understanding (MOU) between the UIC and the Ukrainian side, with the aim of strengthening institutional cooperation and providing a suitable framework for the exchange of information and the exploration of investment and commercial opportunities, thereby supporting the engagement of Kuwaiti companies in the opportunities available in Ukraine. It was also agreed, in coordination with the Chamber of Commerce and Industry, to organize a joint virtual Business Forum to acquaint investors with the diverse commercial and investment opportunities in Ukraine and to promote communication between private sector institutions in both countries.
At the request of the Union of Investment Companies (UIC), a meeting was held with representatives of the Kuwait Foundation for the Advancement of Sciences (KFAS) on Sunday, 24th May 2026, at KFAS headquarters, to explore opportunities for enhanced cooperation and coordination between the two organizations and to discuss a number of areas of mutual interest.
Attendees from Kuwait Foundation for the Advancement of Sciences (KFAS):
- Dr. Bassam Alfeeli Chief Executive Officer, Enterprise Development Sector
- Mr. Yousef Al-Abdullah Training Programs Manager
In addition to several representatives from the relevant departments at KFAS.
Attendees from the Union of Investment Companies (UIC):
- Ms. Fadwa A. Darwish Secretary General
- Mr. Mohammed F. Oriba Director of Administrative Affairs & Support Services
- Mr. Abdullah A. Al-Omani Member of the Media & Marketing Committee
At the outset of the meeting, KFAS representatives welcomed the UIC delegation and highlighted the importance of strengthening engagement and collaboration with private sector institutions and stakeholders involved in economic and investment-related matters. The UIC delegation expressed its appreciation for the opportunity to meet and commended KFAS’s role in supporting scientific research, innovation, and the development of national talent, thereby contributing to Kuwait’s knowledge and development ecosystem.
The UIC delegation also provided an overview of UIC’s role in supporting and representing the investment sector, as well as its efforts to contribute to the development of the economic and investment environment through initiatives, policy recommendations, and specialized studies. The delegation further highlighted the activities of the Investment Studies Center (ISC), UIC’s training arm, in the areas of professional development, capacity building, and the organization of specialized training programs and events.
The meeting explored potential avenues for collaboration in several areas of mutual interest, including economic and investment research, specialized training programs, and the organization of knowledge-sharing events and forums. Discussions focused on supporting national talent development and strengthening the link between knowledge generation and practical application within the investment sector.
The two sides also discussed the possibility of collaborating on a study examining the investment sector and its contribution to the national economy, in addition to exploring joint initiatives aimed at promoting financial literacy and raising awareness of economic and investment-related topics.
The meeting concluded with both parties emphasizing the importance of maintaining communication and coordination in the period ahead, with a view to expanding areas of cooperation and leveraging the expertise and capabilities available within both organizations in support of Kuwait’s development and knowledge-based objectives.
As part of its commitment to supporting initiatives with social and developmental impact, the Union of Investment Companies (UIC) joined the supporting organizations of the Arab Inclusive Employment and Entrepreneurship Compact (AIEEC) for Persons with Disabilities on 20th May 2026. The Compact was launched by the UIN Economic and Social Commission for Western Asia (ESCWA) in collaboration with the International Labour Organization (ILO).
UIC was invited to support the Compact in recognition of its role as the representative body of the investment sector in Kuwait and its standing as an active partner in promoting responsible institutional practices and supporting private sector development initiatives. Through a set of practical commitments, the Compact seeks to encourage progressive commitments from private sector institutions across the Arab region to advance the full inclusion of persons with disabilities in the labour market by adopting tangible and responsible policies and measures aligned with relevant international standards and frameworks.
UIC reaffirmed its support for the Compact’s objectives, which include promoting the inclusion of persons with disabilities in the workplace, providing equal opportunities for employment, professional development, and entrepreneurship, and fostering more inclusive and accessible work environments, thereby enhancing their economic and social participation.
As part of its efforts to support this initiative, UIC circulated the Compact to its member companies and encouraged them to review its objectives, explore avenues for support, and adopt policies and practices that promote equal opportunities and workplace inclusion, in line with international best practices and the Sustainable Development Goals.
This initiative reflects UIC’s commitment to strengthening the contribution of the investment sector to social and developmental initiatives and to promoting a culture of inclusion and corporate responsibility, thereby supporting Kuwait’s efforts to build a more sustainable, diverse, and empowering work environment for all members of society.
Upon the request of the Union of Investment Companies (UIC), a meeting was held with H.E. Osama Khaled Boodai, Minister of Commerce and Industry, on Wednesday, 13th May 2026, at His Excellency’s office at the Ministry’s premises.
The meeting was attended on behalf of UIC by:
- Mr. Abdullah H. Al-Terkait Chairman
- Mr. Jassem H. Zainal Board Member
- Mr. Fawaz S. Al-Ahmad Board Member
- Mr. Mohammad A. Alsaad Board Member
- Ms. Fadwa A. Darwish Secretary General
The meeting focused on a number of regulatory and legislative matters related to the investment sector and business environment, during which the UIC delegation commended H.E. the Minister’s keenness to strengthen communication channels with the private sector and engage with views related to commercial and investment matters.
The meeting included discussions on UIC’s views regarding the draft Decree-Law amending Companies Law No. (1) of 2016, with emphasis placed on the importance of ensuring clarity of legal frameworks and practical applicability in a manner that minimizes overlapping jurisdictions and enhances regulatory stability.
The two sides also discussed the importance of aligning the instructions issued by the Ministry of Commerce and Industry and the Capital Markets Authority (CMA) regarding the timing of annual general assemblies for companies regulated by the CMA, in a manner that enhances procedural clarity and consistency of implementation among the relevant authorities.
The meeting further addressed ways to support small and medium-sized enterprises (SMEs) and develop investment and financing tools related thereto, in a manner that contributes to activating the business environment and strengthening private sector participation in economic activity.
UIC also reviewed the views and proposals it prepared in support of Kuwait’s National Industrial Strategy 2035, within the framework of its participation in the team formed by the Planning and Research Department at the Ministry of Commerce and Industry to study the project “Providing New Financing Sources for Industrial Enterprises,” which falls under the Ministry’s mandate. This project aims to support industrial development, enhance the competitiveness of the national economy, and stimulate private sector contribution toward achieving development objectives.
The meeting also addressed the role of the Investment Studies Center (ISC), UIC’s training arm, in supporting and qualifying national cadres, as well as the importance of expanding cooperation with entities and institutions concerned with economic affairs in order to promote awareness and knowledge related to the investment sector, capital markets, and the business environment.
In another context, UIC reviewed a number of regulatory proposals related to commercial activity codes for investment companies, in addition to certain views concerning the Competition Protection Law and several regulatory frameworks related to the investment sector.
The meeting concluded with UIC reaffirming its readiness to continue cooperation and coordination with the Ministry of Commerce and Industry and the relevant authorities, and to contribute to presenting views and initiatives related to the development of the commercial and investment environment, in a manner that supports business environment stability and keeps pace with private sector needs.
