KUWAIT IS THE THIRD BEST COUNTRY IN MIDDLE EAST AND NORTH AFRICA FOR START UPS

  • 10/10/2022

Kuwait City: After Saudi Arabia and the United Arab Emirates, Kuwait came in third on the British "Sortlist" platform's ranking of preferred investment environments for launching start-ups in the Middle East and North Africa. The platform noted that the area had established itself as the preferred location for new start-ups in 2022, noting that 66 deals held in June this year alone attracted investments totaling $323.7 million, with American investors accounting for the majority of these deals. 


The platform urged investors to relocate their start-up projects abroad in search of an appropriate business environment, noting that it chose Middle Eastern and North African nations after taking into account variables like internet speed, accessibility to public transportation, the qualifications of the population, office rental costs, electricity, and the happiness of locals. 

The platform ranked Kuwait City third in the region for having an environment favourable for starting new businesses, taking into account the country's high literacy rate (96 percent), affordable electricity, and fast Internet, but it also made note of the city's somewhat high office rents.

 The platform awarded first place to the city of Riyadh, which it deemed to be the best place in the area for start-ups in terms of low levels of illiteracy, Internet speed, electricity costs, and even the level of residents' happiness, which averages 6.49/10. With an incredible internet speed that surpasses that of the United Kingdom and the other cities in the region, Dubai came in second. The platform also highlighted the emirate as having an excellent business climate for diversifying work and dealing with international clients and workers.

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