#Kuwait Family Businesses Should Join Stock Market, Minister Says - Bloomberg

Kuwait Family Businesses Should Join Stock Market, Minister Says - Bloomberg:

Family businesses in Kuwait should be encouraged to sell shares on the country’s fledgling stock market, which is also trying to attract foreign investments in an effort to expand, according to a key minister.

“We think we have the muscles, the know-how, and all the opportunity to become a commercial hub,” Minister of Commerce and Industry Khaled Al-Roudhan said in an interview. “We’re trying to improve our business environment not only for foreigners but Kuwaitis too.”

Kuwait is working to help the exchange grow, Al-Roudhan said, touting upcoming IPOs, a “very ambitious” development program by the Capital Markets Authority focused on accessibility for foreign investors, as well as the lack of foreign ownership limits.