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Efforts to amend 12 articles of the Investment Law
First 07/21/2024
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Muhand Abdul Wahab
The Parliamentary Committee on Economy and Development approached the government to amend 12 paragraphs of the Investment Law.
The head of the committee, Hassan Al-Khafaji, explained in an interview with Al-Sabah that the committee approached the government to amend 12 articles of the investment law, noting that four of them were approved after much discussion, but they are still below the required level. He added that the committee held a number of sessions, dialogues and discussions with university deans, the Federal National Investment Authority and the governorates, indicating that there are intentions to change it in order to allow the entry of foreign companies and capital.
Al-Khafaji pointed out that the committee discussed an important point that is considered the major obstacle represented by offering an investment opportunity that the investor obtains according to paragraph 245, then unsound companies enter the project and it is withdrawn, thus the investment capital flees and thus the work is delayed, stressing that it seeks to change this paragraph. He pointed out that the committee discussed many economic laws that concern it, including high prices and the opening of cities.
Edited by: Adhraa Juma
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