(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Nov 1 (KUNA) -- The State of Kuwait has done well in improving its business atmosphere, taking vital steps that made it one of the leading GCC countries in implementing economic reforms, Director of the World Bank in Kuwait Dr. Firas Raad said Wednesday.
In a press release, Dr. Raad indicated that Kuwait had made improvements that attracted investments and developed economic growth, affirming that the Gulf country must continue on this path in the upcoming years.
Kuwait's economic reforms improved its position within the World Bank's Ease of Doing Business Index 2018 (DB 2018), jumping six positions to the rank 96 from the list that includes 190 states, said Dr. Raad.
He indicated that the country managed within a year to decrease the time slot for starting a business from 61 to 38 days, adding that the processes to begin business and register properties have shrunk from 12 to 9 and 49 to 35 days respectively.
The World Bank official attributed the improvement to the government's keenness on economic reforms, adding that setting a unified online system for companies' registrations had also played a part in the improved ranking.
Yesterday, Kuwait Direct Investment Promotion Authority (KDIPA) announced that the State of Kuwait witnessed improvement in its position in the World Bank's (DB 2018) index. (end) mge.gta
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