Kuwait Offerings

Kuwait City, Kuwait: Kuwait has achieved a significant leap in global competitiveness, ranking 38th worldwide and 5th in the Arab world according to the 2023 Global Competitiveness Index. This marks a notable improvement for the nation.

Stay updated on Kuwait’s latest news and job openings by following our WhatsApp channel! https://whatsapp.com/channel/0029VaCkXo25q08jnKrRwo27

The annual report, issued by the Global Competitiveness Center, assesses a country’s capacity to foster a business-friendly environment. This year’s evaluation highlights advancements in crucial factors like government efficiency. The report measures government efficiency through sub-indicators such as public finance management, tax policies, legal frameworks, and social structures. Improvements in these areas suggest a more streamlined and transparent business environment in Kuwait.

The Global Competitiveness Index utilizes over 335 criteria to assess competitiveness across 64 countries. This data-driven approach provides valuable insights for policymakers. By analyzing the report, they can identify areas where Kuwait can improve and prioritize actions that can boost productivity, economic growth, and ultimately, citizen well-being.

The report offers a roadmap for Kuwait’s sustained development. Key recommendations include establishing a centralized online portal to simplify business processes, investing in workforce development programs to enhance skills, and building a robust digital infrastructure to keep pace with global advancements. Additionally, the report suggests diversifying the economy by encouraging private sector investment and promoting best practices in sustainable investment to attract foreign capital. Finally, supporting investments in the knowledge economy is seen as crucial for fostering innovation and driving economic transformation. By implementing these recommendations, Kuwait can solidify its position as a competitive player in the global market, Al Qabas daily reported.