A+ A-

Trade Minister: Kuwait adopts free, developed economic policies

Minister of Trade and Industry Khaled Al-Rawdan during the second and last day of the 4th Kuwait Investment Forum
Minister of Trade and Industry Khaled Al-Rawdan during the second and last day of the 4th Kuwait Investment Forum
KUWAIT, Feb 19 (KUNA) -- Minister of Trade and Industry Khaled Al-Rawdan said Sunday Kuwait is adopting free and developed economic policies in spite of geopolitical reflections and changes in the Middle East region.
The minister made the remark on the second and last day of the 4th Kuwait Investment Forum, saying that the business environment improvement committee, set up in cooperation with the National Assembly, mainly aims at drawing foreign investment and spurring Kuwaiti investors.
He added that Kuwait has the 102nd place in the World Bank's doing business index, pointing to the Kuwaiti government's efforts to enact fresh pieces of legislation in order to create a better business climate, especially amid the current regional events.
In this context, the minister extolled existing government-parliament cooperation with a view to developing the business environment in the next 15 months.
On his part, Member of Parliament Al-Humaidi Al-Subaei said the business climate in Kuwait requires more developed laws and legislations in order to attract more investors to economic ventures.
Addressing the same event, the MP emphasized that several laws need to be amended in order to push forward the current economic situation in the country.
He emphasized that the National Assembly seeks to wipe out obstacles bugging Kuwaiti investors so as to encourage and spur them and to develop the local economy.
The 4th Kuwait Investment Forum kicked off earlier Saturday under the partnership of Deputy Prime Minister and Minister of Finance Anas Al-Saleh under the title: "Investing in Kuwait - Available and Lost Opportunities.
The forum features a number of workshops and seminars allowing investors and officials to have fruitful and constructive dialogue on a host of major issues and matters that serve investment promotion. (end) fh.th.amh.mt