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FINANCIAL NEWS
Kuwait plans legislation to manage commercial ports
09 Mar 2016
(MENAFN) Kuwait’s gov’t aims legislation which will let the private sector organize commercial ports and the nation’s global airport, with the gov’t retaining its assets.
However, the country is under heavy pressure to reduce costs and increase the efficiency of its economy as low oil prices make it to run a state debt deficit.
Accordingly, there is a need to “refresh the ports, for commercial business”, and to develop the management and move it to the private sector.
The country has discussed outright privatization, it has run into political and technical issues, and officials are talking of moving management.
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