In a positive step to fulfil the vision of the political leadership to transform Kuwait into a financial and commercial hub, His Highness the Prime Minister Sheikh Ahmad Al-Abdullah said the government will convene a high-level meeting today to discuss how to attract investments, protect public funds, and strengthens the business climate.
The meeting, chaired by the Prime Minister will be attended by several state agencies with focus on the recent amendments to the Public Funds Protection Law and its potential implications.
This proactive move comes in response to concerns raised by economic experts and stakeholders of the possible risks these changes could pose — particularly to government-related investments and private sector activity.
According to informed sources, the meeting will bring together representatives from investment agencies, public-private partnership projects, the Kuwait Direct Investment Promotion Authority, and the Public Institute for Social Security. Each entity will present its technical and specialized perspective on the amendments, aiming to safeguard investment objectives while ensuring the state retains effective oversight of public funds, reports Al-Jarida daily.
Economic experts have expressed caution over the proposed amendments to Law No. 1 of 1993 on the Protection of Public Funds. Saleh Al-Salmi, Chairman of the Board of International Financial Consulting Holding (IFA), warned that the expanded definition of public funds—covering institutions where the state holds even a minimal stake, whether inside or outside Kuwait — risks discouraging economic and commercial activity.
Experts agreed that while safeguarding public funds is a national priority, the proposed amendments must strike a balance — protecting state assets without hindering Kuwait’s investment climate.
The meeting, therefore, represents a constructive opportunity for government entities and stakeholders to align on a framework that reinforces oversight while supporting economic growth and the aspirations of Kuwait Vision 2035.
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