KUWAIT CITY, 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.
Meanwhile, the Ministry of Higher Education is enlisting top-notch universities in the United Kingdom and Australia for registering excellent Kuwaiti students there. The ministry on Wednesday announced the decision, as part of a policy aimed at encouraging the Kuwaiti students to enroll in the most elite universities abroad.
Assistant Undersecretary for Scholarship and Culture Relations Affairs in the Ministry Fatima Al-Senan said in a statement that the ministry is coordinating with the state’s cultural bureaus abroad to prepare lists of such universities according to the international categorization to pick the best of them, she added, The ministry informed the cultural bureaus to choose the universities’ lists according to the National Authority for Academic Accreditation criteria, and to ensure quality of education offered in those universities in order to enroll them in the coming scholarships’ plan, she said. This comes to fulfill the vision of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah in human investment in the higher education by enrolling Kuwaiti students at distinguished universities in various parts of the world, Al-Senan said.
Excellent Kuwaiti students studying at internationally classified universities receive financial allocations higher than those offered to the other students, who study at ordinary-level universities abroad, she affirmed.