Kuwait’s stock market hasn’t reached its full potential, says minister

      Published on Monday, 30 September , 2019      311 Views     
Kuwait’s stock market hasn’t reached its full potential, says minister


The Kuwaiti stock market has yet to live up to its full potential with many public-private projects still to be completed and a number of potential IPOs in the pipeline, Minister of Commerce and Industry Khaled al-Roudhan said.

“We think we have the muscles, the know-how, and all the opportunity to become a commercial hub,” al-Roudhan said in an interview. “We’re trying to improve our business environment not only for foreigners but Kuwaitis too.”
Kuwait has taken some market-liberalisation measures that bring it closer to developed markets, al-Roudhan said. He cited the Capital Markets Authority’s “very ambitious development programme” focused on accessibility for foreign investors as well as the lack of foreign ownership limits.

The Capital Markets Authority will start a public offering of its 50% stake in Boursa Kuwait next month, making it the second publicly traded exchange in the Gulf after Dubai.

“This will enhance its profile further and increase its competitiveness,” according to al-Roudhan.
MSCI Inc will add Kuwait to its main index tracking stocks in emerging markets in June 2020, once some trading mechanisms are improved, in an upgrade that has been priced in by investors anticipating billions of dollars of inflows.
More high-profile listings can be gained by encouraging family businesses to list on the exchange as well as “speeding up the privatisation programme and PPP implementation, as many assets within those programs are candidates for listing,” al-Roudhan said.
Foreign investments of $1.5bn entered the bourse as a result of the capital market upgrading to the EM category in the FTSE index, the minister said. Approximately $2.5bn is expected after the official upgrade of MSCI.



Keywords:
Category Business | 2019/09/30 latest update at 12:22 PM
Source : | Photocredit :
312 Views
Comments Add comment



Gulf Media

Related Articles

The editorial staff of Kuwait Media would like to give all of its readers from Gulf and Kuwait and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Kuwait Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Kuwait, the Gulf and the world.


Emir of Kuwait to return from US after medical treatment Emir

Emir of Kuwait to return from US after medical treatment

The Emir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah will return home on Wednesday, according to a statement…

Kuwait’s Amir receives calls from US President Trump, Jordan’s King Abdullah Emir

Kuwait’s Amir receives calls from US President Trump, Jordan’s King Abdullah

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah on Thursday received a telephone call from US President…

Amir hails Kuwait improved listing Emir

Amir hails Kuwait improved listing

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah sent on Saturday a cable of congratulation to His…

Egyptian president in Kuwait Emir

Egyptian president in Kuwait

Egyptian President Abdel Fattah el-Sisi, accompanied by a delegation of officials, arrived in Kuwait on Saturday beginning an…

GULF TV

Popular in GULF TV

FEBRUARY LIGHTS KUWAIT

4186 Views

FEBRUARY LIGHTS KUWAIT

Latest videos in GULF TV

Technology

Kuwait lifestyle and lifestyle Kuwait news

Lifestyle

Kuwait lifestyle and lifestyle Kuwait news

Culture

Culture news and Kuwait culture news

Sport

Sport news from Kuwait and world sport news

Events

Kuwait Events and Events News

Government

Kuwait government News

Emir

News from the Emir of Kuwait