ASAR – Al Ruwayeh & Partners assists Gustave Roussy International in obtaining a KDIPA license to set up a hospital in Kuwait
Gustave Roussy for Cancer Treatment Hospital – A landmark project in Kuwait with the most innovative and cutting-edge cancer treatment technology
Kuwait – 1 June, 2017: ASAR – Al Ruwayeh & Partners (ASAR), Kuwait’s leading and most prominent corporate law firm, and one of the region’s top tier firms, is pleased to announce that they have assisted Gustave Roussy International (GRI) in obtaining a license from Kuwait Direct Investment Promotion Authority (KDIPA) to set up in partnership with Al Mutawa for Medicines and Medical Equipments WLL (AAW), a specialized and comprehensive cutting-edge cancer treatment hospital under the name of “Gustave Roussy for Cancer Treatment Hospital Kuwait”.
GRI is the affiliate company of Gustave Roussy, the European leading cancer center based in Villejuif, Paris – France. The centre specializes in oncology, chemotherapy, radiotherapy, surgery, interventional radiology and reconstructive surgery, and receives around 60,000 new patients per year and treats over 250,000 patients worldwide annually.
The license was issued pursuant to Law No. 116 of 2013 concerning the promotion of direct investment in Kuwait which permits foreign investors to own up to 100% of the shares of a Kuwaiti company and benefit from different exemptions, including tax and customs duties. The project will bring high level know-how expertise and technology transfer to Kuwait (with the use of the most innovative and cutting-edge cancer care and management procedures), supplement the public sector services and as such help Kuwaiti authorities to reduce the outflow of patients, improve the quality care for patients, provide training to Kuwaiti professionals and will represent a landmark hospital in Kuwait with the aim of becoming a regional focal point for cancer treatment. Following the issuance of KDIPA license, GRI and AAW initiated the establishment of the company which was incorporated and registered with the Commercial Register last week.
The ASAR team involved in this project included, Mr. Ibrahim Sattout – Partner, Mr. Mohamad Abulwafa – Partner, Mr. Jad Jabre – senior associate and Mr. Ahmed El Dib – associate.
Ibrahim Sattout, partner at ASAR, said: “We are proud and honoured to having acted for GRI with respect to the establishment of this specialized hospital in Kuwait and we appreciate the confidence and trust that GRI have put in our firm. This project reaffirms the interest of foreign investors in the Kuwaiti market. It also confirms ASAR’s strong reputation and expertise in advising local and international clients on major and complex projects in Kuwait, and we look forward to working with our clients on other similar projects”.
Mr. Mohamad Abulwafa, partner at ASAR, added: “We have been privileged to work on this project. This is a landmark health project in Kuwait and we hope that it will open the door for the implementation of other similar projects which will develop and promote the country’s health sector. This deal highlights ASAR’s capabilities in servicing local and international top tier companies in the Kuwaiti market.”
Mr. Jad Jabre, senior associate at ASAR, added: “We were pleased to work with GRI on this ground breaking health project. This milestone project further reinforces ASAR’s reputation as specialists in high profile projects and trusted involvement with prominent organizations in numerous landmark projects that are part of the country’s development plan.”
With dedicated offices in Kuwait and Bahrain coupled with its associated offices and relationships, ASAR provides clients across an extensive range of industry sectors with comprehensive legal advice and support for their business activities in Kuwait, across the GCC and beyond.
The firm has been consistently rated as the leading corporate and commercial law firm in Kuwait by reputable legal guides such as the Chambers Global Guide, International Financial Law Review and the Legal 500. The firm also won the “National Law Firm of the Year” and the “Best Restructuring Deal in the Middle East” awards by IFLR during 2013. Further, the firm won the prestigious “2014 Commercial Litigation Law Firm of the Year” and the “2014 Best Banking and Finance Legal Team –Kuwait” awards from Acquisition International Magazine in 2014. This year, ASAR lawyers also received multiple awards under different categories in the Fourth Edition of ‘Best Lawyers’ in Kuwait.