GCC Regulatory Digest H1-2015

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The first half of 2015 saw intensification of efforts across the GCC in terms of reforms that could bring in more foreign investment and aid greater e.....

Summary

The first half of 2015 saw intensification of efforts across the GCC in terms of reforms that could bring in more foreign investment and aid greater economic diversification. Understandably, the focus was on making it easier for companies to do business, aided by supporting reforms in the fields of governance, education, etc. The experience of Kuwait in terms of diesel and fuel subsidies cut and their quick reinstatement is a telling example of how complex the path of reforms can be. Some significant reform moves can be expected to emanate from Kuwait during the rest of the year, particularly with respect to harmonization of the tax codes for both domestic and foreign firms.

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GCC Regulatory Digest H1-2015

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