MTC Official: "Kuwait Repels Investment"

Saad Al-Barrak, MTC

• The Kuwait Chamber of Commerce and Industry - publicly and privately - have been saying it for years.

• The Parliament has been saying it for years.

• Reformers and Economists (i.e. Jassim Al-Saadoun) have been saying it for years.

• Kuwait companies have been saying it for years.

• Foreign corporations have been saying it for years.

And now a major multinational corporation (MTC) is moving its headquarters out of Kuwait. Here's a refreshingly candid and direct statement by Saad Al-Barrak, Deputy Chairman and Managing Director, MTC:

"The Kuwaiti business environment repels investment and the country's laws are not good for a financial hub,"

Ouch.

Who is next? Agility? Global Investment?

Source: Arabian Business.

Technorati : Kuwait Commerce