Contrary to what was reported earlier in some media, Kuwait has not made a quantum leap in its rankings in the latest World Bank’s Ease of Doing Business Index.
It had been reported erroneously that Kuwait was ranked among the top 20 countries in the Ease of Doing Business 2020 index, out of 190 countries. The report was attributed to the Kuwait Direct Promotion Authority (KDIPA).
What the KDIPA had said was that the World Bank Group (WBG) announced on 26 September that Kuwait had for the first time joined the group of top 20 improvers in the Ease of Doing Business Index 2020.
This global index captures ten key components that represent various dimensions of business regulatory environments for domestic enterprises. In its press release, KDIPA pointed out that Kuwait’s improvements came from measures undertaken in six components: Starting a Business; Getting electricity; Registering property; Getting Credit; Protecting Minority Investors; and Trading Across Borders.
The KDIPA added that improvement in Kuwait’s position in the Ease of Doing Business Index 2020, will directly and indirectly contribute to making the investment climate in the country more attractive to investors, and support the attainment of the National Vision 2035 and its developmental goals.
In ranking Kuwait among top 20 improvers, the World Bank had made clear that this ranking does not reflect the best performing/ranked economies, which will be disclosed at the time of Doing Business 2020 launch on 24 October. In 2019, Kuwait was ranked 97 out of 190 countries, one notch below the 96 rank it occupied in 2018.