Latest News
- Kuwait-Jordan Durra Field Joint Statement Rejected By Iran
- GTD Cracks Down On Vehicle Noise Pollution In Sulaibiya
- Mystery Of Dead Fish At Shuwaikh Beach Sparks Urgent Action
- MEW To Complete Links With The Interior And Justice Ministries B...
- 8 Expats Jailed For Bribing An Officer To Obtain Driver's Licens...
- Weekend Weather Is Expected To Be Hot
- From Tomorrow, Traffic Diversion On Third Ring Road
- Ministry Of Health Refute Rumors On Non-availability Of Antibiot...
- Amir Of Kuwait And Jordan King Renew Commitment To Regional Secu...
- 37 Arrested With Narcotics And Firearms
- Outrage Over Candidate's Arrest
- Six Stores Shut Down In Jahra For Selling Fake Goods
Decrease In Demand For Establishing New Companies In Kuwait
The official government statistics shows a decline in state revenues from the registration of commercial companies and sales of government services, as a result of the decline in the demand for establishing new companies in the country.
The demand for establishing new companies are decreased due to the pandemic effect, reports local Arabic daily Al-Qabas. According to report, the revenues collected from commercial company registration fees decreased by 50 percent, reaching only 5.3 million dinars during the past year, compared to 10.7 million dinars collected in the corresponding period of 2019- 2020.
Before the Corona crisis, the demand for establishing new companies were growing regularly at a rate of 10% annually and Kuwait experienced a boom in the issuance of commercial licenses as many Kuwaiti youth was interested for self-employment and the establishment of small and medium enterprises to work in them instead of a government job.
Â
Â
Â
SOURCEÂ IIK
Trending News
-
Kuwait Implements Home Biometrics Services Ahead O...
14 April 2024
-
Kuwait Airways Provides Update On Flight Schedule...
14 April 2024
-
Kuwait Airways Introduces Convenient Home Luggage...
15 April 2024
-
Expat Residency Law Amended By Kuwait Ministerial...
20 April 2024
-
Two Expats Are Arrested For Stealing From Salmiya...
17 April 2024
-
An Egyptian Expat Dies At Kuwait's Airport
11 April 2024
-
Kuwait Airways Resumes Flights To Beirut And Oman...
15 April 2024
-
Bay Zero Water Park Kuwait: Summer Season Opens Ei...
11 April 2024
-
Temperature Increases Cause Electricity Load Index...
21 April 2024
-
Thief Returns Stolen Money With An Apology Letter...
15 April 2024
Comments Post Comment