Kuwait working on new laws

Kuwait’s Minister of Commerce and Industry Khaled Al-Roudhan said his ministry was working on a set of business climate improvement laws, primarily a bankruptcy and insolvency bill, reported Zawya. Al-Roudhan, who doubles as acting minister of State for Youth Affairs, made the remark during a press conference on the occasion of Kuwait’s recent advance in Ease of Doing Business Index 2018 (DB 2018). The fresh package is chiefly pertinent to companies, auditors and exchange of information, the minister said. Kuwait’s advance to the 96th position in the index is not enough since the ministry is seeking to put the State of Kuwait in the first third of this list in just less than five years, he added. The Permanent Committee for Streamlining Business Environment & Enhancing Competitiveness in the State of Kuwait, led by director-general of Kuwait Direct Investment Promotion Authority (KDIPA) Sheikh Meshaal Jaber Al-Ahmad Al-Sabah, is working hard in this regard and has already revised many laws in order to streamline the process of establishing companies, he noted.