Government Vision Considered By The Council Of Ministers: Enabling Foreigners To Own Real Estate Assets

Local Arabic news paper Alqabas reported that government vision placed on the cabinet table called for the adoption of attractive housing policies for real estate development, stressing the importance of enabling foreigners to fully own real estate assets with the imposition of related taxes.

The vision demanded the adoption of the mortgage law and the real estate developer as a step to overcome the problems of real estate financing and participate in the development of housing projects, and the development of a new mechanism for distributing land and replacing value-added distribution systems with the lottery system. effective consumption.

The vision suggested setting a minimum item for the cost of treatment abroad for emergency cases, which are decided by the competent authorities, and reconsidering scholarship policies to be limited to scientific and technical disciplines related to labor market policies (the project to harmonize learning with the labor market), and the importance of merging and reducing government agencies with similar specializations, In addition to adopting contemporary models for shifting from the scope of ministries to councils (a project to restructure the government apparatus).

She called for the development of the concept of government work in order to achieve the requirements of the graceful government and reduce government expenditures on administrative, operational and maintenance expenses, including the transformation of ministries into councils and the adoption of digital platforms affiliated with each government agency (Digital Transformation Project).

Under the title of developing financial policies regarding the repricing of goods, services and public assets in order to achieve justice in distribution and consumption, the vision demanded the following:

The importance of imposing a new tax and increasing the excise tax on luxury goods that have an impact on the environment and public health (excise tax study project).

Reconsidering the price policies for all public services and goods, as well as for public assets and properties (public services repricing project).

Rationalizing and directing subsidies in more sustainable and effective ways (Social Safety Net Project).
Amending Article 12 of Law 19 of 2000 regarding imposing a tax of 2.5% of annual net profits on listed Kuwaiti companies to finance the purposes of the law.

Changing the budget structure from a cost budget to a program and performance budget.

The vision stressed the need to strengthen economic policies that attract investment within the productive sectors and digital technology, through the following:

Building economic projects through the exploitation of oil derivatives, which enhances the diversification of commercial and employment opportunities.
Reconsidering the mechanism of financing small and medium enterprises in order to achieve the principle of effective financing efficiency (the project of converting the fund into a bank).
Establishment of border logistics areas through partnership.

Approval of the industrial and agricultural developer to overcome the obstacles of financing and investment and to participate in the development of industrial and agricultural security.

Approval of the commercial and digital developer to diversify investment opportunities within the commercial and digital fields.

 

 

SOURCE  ALQABAS

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