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Kuwait’s 2023 government subsidies soar by 13% to reach KD 386 million

Basic food items accounted for 37.5% of the total subsidy bill, while milk and baby food subsidies comprised 3.6%. The remaining 59% was allocated to subsidizing construction materials

A total of 228 new licenses were issued for real estate brokerage in 2023

In 2023, a total of 1,926 new licenses were issued for special nature companies

The Ministry of Commerce and Industry (MOCI) has unveiled its comprehensive annual statistics for 2023, shedding light on various critical domains such as subsidies, companies, commercial oversight, consumer protection, commercial licenses, and real estate.

Subsidies

In 2023, total government spending on subsidies for food, construction materials, milk, and baby food surged by 13%, reaching KD 386 million compared to KD 342 million in 2022.

Basic food items accounted for 37.5% of the total subsidy bill, while milk and baby food subsidies comprised 3.6%. The remaining 59% was allocated to subsidizing construction materials.

1,926 new licenses issued for special nature firms in 2023

In 2023, a total of 1,926 new licenses were issued for special nature companies. These companies are exempt from the requirements of the executive regulations of the Commercial Shops Licensing Law, allowing their owners to operate them without the need for workers or a commercial space.

The highest number of licenses was issued in October, totaling 839, followed by 608 in November and 479 in December.

Commercial supervision

MOCI inspectors issued a total of 962 commercial violations in 2023, with the highest number, 157, recorded in May. The most common violations included price fraud, misleading advertising, and selling expired goods.

A total of 4,386 seizure reports were issued in 2023, with the highest number, 710, recorded in July.

Consumer protection

In 2023, a staggering 26,708 vehicles were recalled due to manufacturing defects. February saw the highest number of recalls at 6,599, closely followed by July with 5,489 and January with 5,257.

Commercial licenses

In 2023, MOCI issued a total of 1,876 new commercial licenses, comprising 1,749 for natural persons and 127 for legal entities. The highest number of licenses was issued in May, with 243, followed by March and January, both with 192 licenses each.

Real estate

A total of 228 new licenses were issued for real estate brokerage last year. The highest number of licenses was issued in October, with 41, followed by November with 35, and December with 32.

In 2023, a total of 84 real estate brokerage licenses were cancelled. The highest number of cancellations, 14, was recorded in October, followed by 13 in December, 12 in November, and 10 in September.

July witnessed 8 cancellations, while March and April each saw 7 cancellations. January had 3 cancellations, while February and April had 1 cancellation each.



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