The new executive bylaw aims to create an appropriate investment climate that allows the attraction of investors and provide citizens with opportunities to participate in the PPP projects. The new bylaw aims also to promote savings and realize additional income sources.
According to the Kuwait News Agency (KUNA), the public authority for PPP projects, President Adel Al-Roumi, said that nearly 60 percent of the process have been completed and the whole bylaw is expected to be finished before the end of the year. Mr Adel Al-Roumi commented that once they are completed, the bylaws would be sent to government bodies for adoption. He added that the PPP law draws upon the best world practices in this domain.
The Kuwait government has plans to increase the number of PPP projects in the country, to achieve this objective the public authority for PPP projects is organizing a package of training programs to convey government officials and investors the importance of this type of project.
In mid June we reported that the Parliament of Kuwait discussed a bill to establish a court for administrative disputes and amendments to the build-operate- transfer (BOT) law. These two pieces provide the framework for PPP projects in Kuwait.