Kuwait: foreign firms to operate without local sponsor ...Kuwait

The New Arab - News
Kuwait: foreign firms to operate without local sponsor
source : The New Arab ( Kuwait ) () 23
Kuwait's parliament has approved a proposal to abolish local sponsorship for foreign companies that open branches in the Gulf state. The move by parliament's financial and economic affairs committee is seen by analysts as a step towards encouraging foreign investment and diversifying the economy, The New Arab's Arabic-language sister service Al-Araby Al-Jadeed reported. The proposal allows companies to operate directly without a local agent, including those bidding for government contracts. "[This] opens the door wide for competition and reflects positively on improving the quality of services in the state, whether provided in commercial work or through government con

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