(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, July 29 (KUNA) -- The Public Authority for Sport (PAS) on Saturday reiterated support to the financial capabilities of the Kuwaiti sports clubs in cooperation with all state institutions, so that they could achieve the goals of the investment law 30/2014.
The Ministry of Commerce and Industry will issue the bylaw for the advertising and marketing companies included in the law, in line with a recent decision by the authority board, PAS Deputy Director General for Planning and Development Houssam Al-Saleh said in a press release.
The benefits of the sports clubs and federations from the decision on the regulation of investing in sports bodies, in effect since March 2015, look different, he said.
Some regulations have achieved the aspired goals of the law, he explained. Others have not.
He noted that a number of clubs and federations have seriously and consciously responded to the investment resolutions, taking the necessary steps and measures for the application of the law. Other ones seemed to respond unseriously, thus missing a good opportunity to make benefits that could have boosted their finances, Al-Saleh said. (end) fsa.tb.msa
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