As Kuwait continues to establish a welcoming climate for foreign investment and develops policies to expand the role of the private sector in the production of goods and services, easier access to regulatory information is needed. Access to this information is associated with greater regulatory efficiency, lower compliance costs, and better quality for businesses. Currently, English translations of Kuwaiti commercial laws are only available through paid services.
Located in the north-east corner of the Arabian Peninsula, Kuwait holds the status of being one of the most democratic countries in its region in terms of civil liberties and political rights. As a player in global economics, the government of Kuwait creates Foreign Capital Investment opportunities and works to protect the rights of investors. Despite these efforts, according to the World Investment Report 2012, the current level of Foreign Direct Investment in Kuwait is below the country’s potential.
IDLO is working with the Government of Kuwait to make commercial law relevant to international community practices.
Kuwait City, Kuwait – 23 February 2012 – IDLO Director General, Irene Khan, met with Mr. Abdulwahab Al-Bader, Director General of Kuwait Fund for Arab Economic Development today to congratulate him on the 50th anniversary of the Fund.
IDLO and Kuwait have signed a memorandum of understanding (MOU), in what both parties say is a milestone in their three-decade-old relationship. The document provides a framework for the Organization to support a variety of legal and administrative processes in the country, from building the capacity of state lawyers to enhancing transparency in procurement.
Kuwait City – As the International Development Law Organization (IDLO) hosted a Training on Public Procurement and PPP in Kuwait City this week, participants stressed the importance of effective infrastructure and transparency throughout government.