Commerce Minister: New phase of transparency with anti-licensing decree
A Royal Decree-Law has been issued in Kuwait to combat commercial concealment. Its aim is to promote transparency and equal opportunities within the economic environment by revealing the actual beneficiary of a business activity. The legislation focuses on protecting the national economy from illegal practices that exploit support for small and medium enterprises, emphasizing the importance of disclosing the true beneficiary's identity to create a fairer market. It also seeks to enhance consumer trust and facilitate their rights. The law includes transparent and regulatory measures implemented by the relevant authorities, along with strengthening cooperation between the government and the private sector to ensure its success and sustainability.
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