Kuwait and Jamaica singed agreement on encouragement

Kuwait and Jamaica signed a joint agreement on the encouragement and reciprocal protection of investments, Kuwait’s Finance Ministry said here on Monday.The agreement was signed by Kuwait Deputy Prime Minister and Minister of Finance Mustafa Al-Shamali and Jamaican Industry, Investment and Trade Minister George Anthony Hilton, Kuwait news agency reported.The accord will provide the legal cover for assurances and security of investments and capital flow in both countries through investmentfacilitation, formation and profit-making. It will also set the groundwork for further Kuwaiti investments in Jamaica – a member of the Caribbean Community and Common Market (CARICOM), said a ministry statement.The document included a definition of some investment-related phrases, types of assets, royalties or properties like rent, mortgages, companies,stocks, bonds and intellectual property rights, among others agreed by the two governments.The agreement also mentions the acceptance and encouragement of investments through enabling Kuwaiti investors to apply for the necessary documents to practice commercial activities and increase their presence in Jamaica