Noc in Brief
Kuwait Offset Program and The National Offset Company
Kuwait Offset Program was established in accordance with the Council of Ministers’ Decision NO. 694/1992, and was managed through the countertrade “Offset” Department within Kuwait Ministry of Finance (MOF). Almost two decades after its inception, the National Offset Company (NOC), a state owned Shareholding Corporation, commenced operations on September 2006, to manage the Offset Program on behalf of MOF as per the management contract signed between both parties.
Futere Strategy of The National Offset Company
To Achieve value added benefits to Kuwait economy through concentrating on the creation of long-term business partnerships between foreign offset obligors (or their specialized foreign representatives) and the Kuwaiti private sector entrepreneurs, granting mutual benefits to both and fostering Kuwait sustainable economic growth through supporting the economic role of the private sector and achieving the Offset Program objectives.
- Supporting foreign Offset obligors in all legal and organizational aspects pertaining to their offset projects.
- Supporting and assisting foreign offset companies in understanding the business environment in the State of Kuwait.
- Support foreign offset obligors in developing strategic business relationships with Kuwaiti private sector entities.
- Assisting foreign offset obligors in identifying and developing offset projects that coincide with the Offset Program objectives.
- Assisting foreign offset obligors in proposing and developing offset projects initiatives that are compatible with the general economic policy of the State of Kuwait