(MENAFN- Arab Times) The National Project for Sustainable Development (Thukhur) promising leaders' team recently completed a report on Assessment of Kuwaiti Business Environment, in collaboration with the Ministry of Planning. The report was the result of a study that concluded with a number of important results and recommendations that are instrumental for the country's Development Plan as it aspires to improve its ranking in the Ease of Doing Business Index. A team of 8 Thukhur Alumni compiled this report in the hope that it will aid Kuwait's development plan. In recent years, HH the Amir Sheikh Sabah Al Ahmed Al Jaber Al Sabah and the Kuwaiti government have envisioned Kuwait to become a major International financial hub. With this goal in mind, Dr. Rola Dashti, Minister of Planning and Development Plan, directed her energy and her team towards the formation of a cooperative effort between the Kuwaiti government and Thukhur business environment team. This effort was translated to the idea of creating the first issue of the Thukhur business review.
Findings
After finalizing the report, and presenting it to Dr Rola Dashti, it is only appropriate to translate the findings and recommendations into an action plan dedicated to the designated ministers leading the government's Cabinet. The action plan is based on the review of The Doing Business report published by the World Bank. The report concentrates solely on aspects of the business environment, such as procedures and regulations and starting businesses, employing workers and enforcing contracts. Kuwait's position in the World Bank Ease of doing business Index includes 10 factors to assess the ranking of a country, the review presented includes only 5 of the 10 factors. Kuwait ranked 82 in the index for 2013, deteriorating from 67 in 2012. This deterioration was ignited by continuous economic reforms in the region.
The reports recommendations and proposed improvements include specific international best practices. The improvements proposed are broken down into 3 scenarios which are high level of change, moderate level of change and low level of change. The purpose of this report was to recommend new reforms and improvements to the procedures that contribute to Kuwait's Ease of doing business index indicators.
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