The recent developments regarding the Dow Chemical case which involve a court order requiring Kuwait to pay $2.1 billion in compensation, proves again that Kuwait is subjected to individualistic desires. It would be a catastrophe of epic proportions if the state’s budget eventually lost this amount of money.
First of all, this case shows that the cabinet’s lack of firm stance against MPs’ threats and demands that can be extremely costly to Kuwait. The decision by the cabinet of former prime minister HH Sheikh Nasser Al-Mohammad Al-Sabah to cancel the deal was politically motivated and made with a narrow vision that failed to take into account the repercussions of the decision at the international scene. The negative effects not only impacted the reliability of investing in Kuwait, but also the country’s integrity when it comes to respecting terms of contracts that its government signs.
No comments:
Post a Comment