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Discuss this article (3 Comments)Kuwait mulls plan to set up more free trade zones
by This email address is being protected from spam bots, you need Javascript enabled to view it on Tuesday, 20 October 2009
TRADE BOOST: Kuwait is planning to establish more free zones as part of a plan to become a regional trade and finance centre. (Getty Images)
Kuwait is preparing a strategy to establish new free trade (FTZ) and logistical zones, the country's commerce chief said on Tuesday.
Commerce and Industry Minister Ahmad Al-Haroun also said that the current free zone would be developed to help establish Kuwait as a regional trade and finance centre.
A committee of experts has been set up to examine the proposals for the new free zones, he added in comments published by KUNA News Agency.
Related: Tools of the trade
The committee will include representatives of Kuwait Investment Authority (KIA), Kuwait Municipality, the public traffic department, Kuwait Fire Service Directorate, Department of Fatwa and Legislation, and the foreign investment office.
Another team has been formed to discuss the development of the current free zone, Al-Haroun said.
He said that the main problems in the free zone that needed to be addressed were traffic jams and the number of suspended licences.
READERS' COMMENTS
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Q8
Posted by Kuwait on Wednesday 21 October 2009 at 13:48 UAE time
Its all about the attitude.. whilst Dubai embarks on ways to make trade/biz less cumbersome.. Kuwait tries to make things harder to do.. perhaps they no do not need the extra money coming in.
you really have to give it to those that run businesses there.. the odds are so heavily stacked against you.. and I am not even talking about market forces or competition
yes, so much potential.. but alas there is no will.. am afraid kuwait will remain a 'has been..'
Posted by Kuwait on Wednesday 21 October 2009 at 13:48 UAE time
Its all about the attitude.. whilst Dubai embarks on ways to make trade/biz less cumbersome.. Kuwait tries to make things harder to do.. perhaps they no do not need the extra money coming in.
you really have to give it to those that run businesses there.. the odds are so heavily stacked against you.. and I am not even talking about market forces or competition
yes, so much potential.. but alas there is no will.. am afraid kuwait will remain a 'has been..'
Dont even bother
Posted by ahmed on Wednesday 21 October 2009 at 10:22 UAE time
Let them fix the first one initially. Having nice buildings, cafes next to the port doenst make it a free trade zone.
So much potential in Kuwait but a GREAT pitty tthat it is swamped with stupid issues like segratation in schools, cafes must close by 1, no femal MP's without the hijab. Other nations are talking about going to the moon. Here in Kuwait, we only talk about moving backwards. Basically like a crab, one step forward, two steps back.
Posted by ahmed on Wednesday 21 October 2009 at 10:22 UAE time
Let them fix the first one initially. Having nice buildings, cafes next to the port doenst make it a free trade zone.
So much potential in Kuwait but a GREAT pitty tthat it is swamped with stupid issues like segratation in schools, cafes must close by 1, no femal MP's without the hijab. Other nations are talking about going to the moon. Here in Kuwait, we only talk about moving backwards. Basically like a crab, one step forward, two steps back.
MORE WISHFUL THINKING
Posted by CONSULTANT in Kuwait on Wednesday 21 October 2009 at 07:48 UAE time
The current Free Trade Zone isn't free. It takes hours just to get in and then the Government thinks they are doing you a favor.
The funadamental mentality in Kuwait must change to becoame a aregional anything.
Committees of only Kuwaitis never come up with anything that is ever implemented.
Posted by CONSULTANT in Kuwait on Wednesday 21 October 2009 at 07:48 UAE time
The current Free Trade Zone isn't free. It takes hours just to get in and then the Government thinks they are doing you a favor.
The funadamental mentality in Kuwait must change to becoame a aregional anything.
Committees of only Kuwaitis never come up with anything that is ever implemented.
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