Kuwait halts new company formations and public offerings: kuwait Investment Authority.
Event Location
Kuwait, Kuwait
Start Time
13 January 2022, 12:00 AM
End Time
31 January 2022, 12:00 AM
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, according to Al Anba reports.
Official sources told Al-Anba that current economic conditions require limited expenditures.
Boston Consulting Group - a global management consulting firm - has prepared the strategy that was approved by the investment authority.
This decision is also designed to prevent the unjustified overburdening of the country’s official reserves, the sources said.
The country’s current strategy is to empower the private sector through the gradual easing of the government’s dominance.
Kuwait Investment Authority updates 2021
