establishment of all new companies." (Dept of Commerce 2001 6) Thus, the establishment and granting of licenses will be far easier for a Kuwaiti citizen than if a foreign firm were to open the business.
The idea of another new business is also a welcome one, since Kuwait is on a building spree, especially with upscale shopping areas and stores. There are many new structures now being built along Safra's waterfront, by established companies such as United Realty Company and Tandeer Real Estate Company (see their websites), and even the Al Fanar shopping experience is expanding. It is obvious that Kuwaitis expect more than "ordinariness". And that is what La Tasse D'Or will offer.
Kuwait's well established banks, including the Kuwait National Bank (among others) now offer business and construction loans to businesses that are at least 51% owned and operated by native Kuwaitis. As a Kuwaiti-owned enterprise, credit will be easier to obtain. "Credit is allocated on market terms and under a variety of government programsaThe private sector has access to a variety of credit instruments through local banks." (Dept of Commerce 2001 9) In other words, as a wholly-owned Kuwaiti enterprise, banks will be eager to participate, and do so at favorable loan interest charges.
An investigation into the potential of an upscale enterprise requires an overview of the current Kuwaiti economy. "Kuwait's non-oil economy grew by 6.8% in 1999aThe non-oil sector is expected to grow more robustly in 2001 as government spending on infrastructure projects increasesa" (Dept of Commerce 2001 1). What is also important to recognize, in terms of the Kuwaitis' ability to "afford" upscale enterprises, is that most wealthy Kuwaiti citizens are either involved with, or employed by the government, or are in the midst of their entrepreneurial alignments, as privatization continues. In short, whether government or private industry- there are suffici...