Minister of Commerce and Industry Osama Boodai has issued two decisions to cancel the licenses of two foreign companies, based on the decisions of the Kuwait Direct Investment Promotion Authority, and in accordance with Article 11 of Law No. 111 regarding commercial establishment licenses.
The two decisions confirmed that procedures for dissolving the two companies should be initiated in implementation of the provisions of Article 266 of the Companies Law, and that the two companies should be notified to take liquidation procedures.
Minister of State for Economic Affairs and Investment and Chairman of the KPIDA Board of Directors, Abdulaziz Al-Marzouq, cancelled an investment license for a company working in the field of bridge and tunnel repair, while an administrative penalty was imposed on a company working in the field of training medical personnel, with a temporary administrative suspension, for violating the licensing requirements by not meeting the agreed number of national workers.
On the other hand, the judicial authority status was withdrawn from 3 employees in the Authority, reports Al-Rai daily.
