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‘It boosts country’s position on global investment map’
KUWAIT CITY, Dec 22, (KUNA): The Head of the Kuwait Chamber of Commerce and Industry (KCCI) Ali Al-Ghanim said that Kuwait’s entry into the emerging markets category within the Morgan Stanley Index (MSCI) boosts the country’s position on the global investment map. In a press statement Sunday, Al-Ghanim noted that Kuwait’s accession to emerging markets helps the Kuwait Stock Exchange to receive inactive inflows that could reach close to $3.5 billion, in addition to amounts that may exceed that of active inflows.
He pointed out that Kuwait’s entry into the emerging markets category within this indicator as of May 2020, stressing that it is an achievement that reflects a wide openness in the investment environment of Kuwait and is based on many reforms witnessed by the Kuwaiti market in record time and with high national efficiencies.
“The responsibility for the advancement of this task lies primarily with the Capital Markets Authority, and the outcome of this success will be through the Kuwait Stock Exchange, indicating that the achievement is not merely a promotion for the Stock Exchange, but rather a national achievement with distinction that refl ects positively on the Kuwaiti economy as a whole,” he added.