KUWAIT, Sept 27 (KUNA) -- The Doing Business Team at the World Bank Group (WBG) announced on its website today that Kuwait for the first time joint the group of top 20 improvers in the Ease of Doing Business Index 2020 out of 190 economies included in the Doing Business report to be published officially end of coming October 2019.
This global index captures 10 key components that represent various dimensions of business regulatory environment for domestic enterprises.
This initial announcement ahead of the release of the report showed that Kuwait has enhanced business reforms in accordance with its National Vision 2035 and its goals.
The announced improvement reflected reforms in 6 components covering: starting a business, getting electricity, registering property, getting credit, protecting minority investors, and trading across borders.
In this context, Kuwait Direct Investment Promotion Authority (KDIPA) announced, as head of "the Permanent Committee for Streamlining Business Environment And Enhancing Competitiveness in the State of Kuwait" (PCK), that the underlying significance of improving Kuwait position in the Ease of Doing Business Index 2020, is that it directly and indirectly contributes to make Kuwait investment climate more attractive, and supports the attainment of the National Vision 2035 and its developmental goals, which will eventually boost the expansion of the economic cycle, availing the creation of more real job opportunities to the local work force.
This improvement capped the dedicated efforts exerted by "the Permanent Committee for Streamlining Business Environment & Enhancing Competitiveness in the State of Kuwait" (PCK), since it was established by a Council of Ministers Decision end of 2013, headed by KDIPA, with membership extended to include 11 competent government authorities, in addition to representatives of the private sector, and the civil society organizations.
The Permanent Committee for Streamlining Business Environment & Enhancing Competitiveness in the State of Kuwait" (PCK), was initiated with full support by H.H. the Prime Minister to serve as an active platform for coordinating national efforts, documenting reforms, raising awareness on reforms undertaken, and following up their progress, as well as placing improving business environment and national competitiveness at the top priority of the government work program.
On this occasion, "the Permanent Committee for Streamlining Business Environment & Enhancing Competitiveness in the State of Kuwait" (PCK), conveys the utmost appreciation and esteemed gratitude to His Highness the Amir Sheikh Sabah Al Ahmad Al Sabah, and to His Highness the Crown Prince, for the leadership foresight and calls to mobilize national efforts to attain this improvement, that will support fostering Kuwait competitiveness in international indices, enabling it to assume its role as a leading financial and commercial center, augmented by the leadership ongoing focus on this issue, in a way that motivated all relevant parties to endorse, with competence and efficiency, their mandated responsibilities to realize this strategic goal. (end) ak.mb