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Parliamentary development: We are working to legislate the {investment} law
Economical 2023/03/08
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: Rula Wathiq
The Investment and Development Committee in the House of Representatives revealed that it is working to legislate the “Investment and Development” law during the next stage. Committee member Muhammad Al-Ziyadi told Al-Sabah that this law aims to unify all investment laws with a single federal law, in which all the requirements of authorities and research centers in this sector are included. He added that this law will work to reduce the intersection of laws between them, such as Law 245 and the Companies Law, so that the National Investment Authority will be the only department active in this matter.
Al-Ziyadi criticized the separation of the Investment and Development Committee from the economy, industry and trade after it was a single committee under the title "Economy and Investment", attributing this to satisfying certain blocs and parties at the expense of others.
He stressed the committee's endeavor to correct some matters in the field of investment, such as the interference of urgent laws and legislations that affected this sector negatively during the last stage, which generated confusion in the field of investment and its success.
He continued that the purpose of advancing the reality of investment is to provide job opportunities and reduce pressure on the government through the active participation of investment companies in establishing a solid infrastructure for the development of the country.
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