KUWAIT: The DoingBusiness Team at the World Bank Group (WBG) announced on its website thatKuwait for the first time joined the group of top 20 improvers in the Ease ofDoing Business Index 2020 out of 190 economies included in the Doing Businessreport to be published officially by the end of October. This global indexcovers 10 key components that represent various dimensions of businessregulatory environment for domestic enterprises.
This initialannouncement ahead of the release of the report showed that Kuwait has enhancedbusiness reforms in accordance with its 2035 national vision and goals. Theannounced improvement reflected reforms in six components covering: Starting abusiness, getting electricity, registering property, getting credit, protectingminority investors and trading across borders.
In this context,Kuwait Direct Investment Promotion Authority (KDIPA) announced, as head of thePermanent Committee for Streamlining Business Environment And EnhancingCompetitiveness in the State of Kuwait (PCK), that the underlying significanceof improving Kuwait's position in the Ease of Doing Business Index 2020 is thatit directly and indirectly contributes to making Kuwait's investment climatemore attractive and supports the attainment of the national vision 2035 and itsdevelopmental goals, which will eventually boost the expansion of the economiccycle, availing the creation of more real job opportunities for the localworkforce.
This improvementcapped the dedicated efforts exerted by the PCK since it was established by aCouncil of Ministers' decision at the end of 2013, headed by KDIPA, withmembership extended to include 11 competent government authorities, in additionto representatives of the private sector and the civil society organizations.The PCK was initiated with full support by HH the Prime Minister to serve as anactive platform for coordinating national efforts, documenting reforms, raisingawareness on reforms undertaken and following up their progress, as well asplacing improving business environment and national competitiveness at the toppriority of the government work program.
On this occasion,the PCK conveys the utmost appreciation and esteemed gratitude to HH the AmirSheikh Sabah Al-Ahmad Al-Sabah and to HH the Crown Prince Sheikh Nawaf Al-AhmadAl-Jaber Al-Sabah for the leadership's foresight and calls to mobilize nationalefforts to attain this improvement, that will support fostering Kuwait competitivenessin international indices, enabling it to assume its role as a leading financialand commercial center, augmented by the leadership's ongoing focus on thisissue, in a way that motivated all relevant parties to endorse, with competenceand efficiency, their mandated responsibilities to realize this strategic goal.
HH the AmirSheikh Sabah yesterday sent a cable of congratulations to HH the Prime MinisterSheikh Jaber Al-Mubarak Al-Sabah. In the cable, the Amir expressed his sincerecongratulations on the classification of Kuwait among the list of the 20 mostimproved countries in the ease of doing business index issued by the World BankGroup, noting that this rating is a worthy government achievement on developingthe structure of the local economy for external investment.
HH the Amiraffirmed efforts exerted in this regard over the past years and the progressachieved by Kuwait in this international indicator are a model to be followedby all government bodies and a motive for further giving to serve the dearnation and the citizens. Hh the Crown Prince Sheikh Nawaf sent a similar cableto HH the Prime Minister.
Kuwait'sinclusion is due to proper and relentless reforms carried out by thegovernment, said a minister Friday. In a press release, Deputy Prime Ministerand Minister of State for Cabinet Affairs Anas Al-Saleh said the policies -adopted by HH the Prime Minister Sheikh Jaber - and the specialized reformcommittee formed on Dec 18, 2013 had led to the current achievement and WorldBank acknowledgment. Saleh thanked all governmental authorities and entitieswho work very hard to improve Kuwait's business and economic status, whichearned international recognition, hoping for further efforts to introduce morereforms.
The ministry ofcommerce and industry underlined its eagerness to improve its various servicesin efforts to push the state forward on international indices. A statementissued by the ministry yesterday attributed the accomplishment to variousfactors, chief among them a ministry initiative to introduce e-services as wellas efforts to protect the rights of investments, added the statement. Withbusiness procedures now much more simplified in Kuwait, the state will bebetter able to lure foreign investment, pushing it closer towards its goal ofbecoming a global economic hub, it said. - KUNA