Arab Today, arab today kuwaiti commerce ministry restores authority over ftz
Last Updated : GMT 21:53:08
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Kuwaiti commerce ministry restores authority over FTZ

Arab Today, arab today

Arab Today, arab today Kuwaiti commerce ministry restores authority over FTZ

Salah Al-Mes'ed, the head of Fatwa and Legislation department
Kuwait - KUNA

The Ministry of Commerce and Industry has restored authority and jurisdictions over the free trade zone, following a marathon legal process where the National Real-Estate Company, which had been assigned to run the vital sector, has been dismissed.
In remarks to KUNA on Thursday, judge Salah Al-Mes'ed, the head of Fatwa and Legislation department, indicated that Wednesday's rule by the Court of Cassation had resolved the issue of running the FTZ, essentially, ruling in favor of the Ministry of Industry and Commerce, thus overruling the libel case filed by the company that had been assigned to run the facility years ago.
The ministry, on Wednesday, asked the Court of Cassation to suspend a previous verdict by the Court of Appeal that had been in favor of the company.
Therefore, the ministry-affiliated Public Authority for Industry shall take charge of activities at the zone in its capacity as the region manager, whereby using all the facilities there, facilitate operations that serve entrepreneurs' interests move goods that exist in and outside the zone.
Observers indicate that essentially the ministry, with the final verdict, is restoring authority over the key facility, envisaged to serve the broader strategic national objective of turning Kuwait into a regional business hub.

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