Kuwait has introduced new corporate legislation as it tries to compete for foreign investment with its more successful regional peers, primarily the United Arab Emirates.
Notorious in the region for its recent economic underperformance, Kuwait is trying to move ahead with more coherent regulations in an effort to kick-start its non-oil economy and boost confidence in markets.
Kuwait’s new regulations are the latest of several measures oil-rich Gulf governments have taken to improve business practice as they compete not just for investment but to attract foreign companies that will hire their youth and help develop their embryonic private sectors.
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