Arab News, Monday, Jan 10, 2022 | Jamada Al-Aakhirah 7, 1443
Kuwait halts new company formations and public offerings: Investment Authority
Kuwait:
The Kuwait Investment Authority has paused the
creation of new companies and will also not have any further public offerings
because of the prevailing strained economic environment.
Official sources told Al-Anba, a Kuwaiti daily
newspaper, that current economic conditions require limited expenditures.
This decision is also designed to prevent the
unjustified overburdening of the country’s official reserves, the sources said.
The country’s current direction is to empower the
private sector through the gradual easing of the government’s dominance.
Boston Consulting Group – a global management
consulting firm – has prepared the strategy that was approved by the investment
authority.