MTC Official: “Kuwait Repels Investment”

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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

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