Al-Roudhan and his skillful team
as we expected and wished for, the political leadership has restored confidence in mr. khaled alroudhan and reappointed him as minister of commerce to complete the reforms, the reforms which the former ministers had failed to pay attention to, despite their importance and the need of a purely commercial state like kuwait.
we stood with minister a l - r o u d h a n and wrote about his accomplishments from day one, not because of personal interests, but in the best interests of development, progress, facilitation, and encouragement we felt in almost every way during our almost daily relationship with the ministry of commerce.
in 2019, the ministry, and its affiliated bodies have accomplished much, from amending the outdated old laws, issuing regulatory decisions, improving the level of services in general, and automating outdated manual procedures.
the ministry and the public authority for industry still need much development, and perhaps this required the return of al-roudhan to the ministry to complete the process of reforms in the ministry against all expectations.
the latest achievements of alroudhan are upgrading of the stock market, with the morgan stanley corporation announcing the upgrading of the kuwait stock exchange to the level of emerging markets of morgan stanley capital international (msci), thus the kuwait stock exchange has achieved this rating in a relatively short period the third upgrade from a global index in a period not exceeding two years, after the ftse russell and standard & poor’s dow jones upgrades, with total financial flows touching 2.5 billion dinars.
therefore the return of al-roudhan is not only to push the wheel of development and maintain its momentum, but also to help explain the importance of political stability and for the market to maintain its momentum, and the continued foreign confidence in it, especially since the market value of kuwaiti shares have exceeded more than $110 billion and has become the second-largest world markets that achieve gains as a result of an upgrade.
consequently, his excellency the minister is required to press the kuwait markets authority to work to provide more transparency, especially with regard to foreign contributions, and also in encouraging the inclusion of large companies on the stock market, after privatizing proportions of their ownership, there are many of these giant companies that are still hesitant to enter the market.
all you need is political support from the ministry, especially given the market’s lack of companies specialized in long-term strategic buying and selling.
