KUWAIT: The ministry of commerce and industry (MoCI) held a press conference on Wednesday at the Public Authority for Industry to discuss a draft ministerial decree on the reorganization and procedures of importing precious metals. Minister of Commerce and Industry Khalid Al-Roudhan said the ministry takes the opinion of those working in the field. “Before approving this draft, we decided to discuss it with gold and jewelry traders to take their point of view. If there are mistakes, then the draft can be amended or changed,” he noted.
MoCI Undersecretary Khalid Al-Fadel said the main goal of the conference was to listen to those who work in this field. “We aim to deal with the difficulties facing the precious metals industry. The suggested draft should make this business easier. We spent over a year studying this draft, and we aim to take the opinion of those working in this field,” he reiterated.
The trading process should be easier. “We should also protect businessmen working in this field from nonprofessional traders. This is part of HH the Amir’s plan to turn Kuwait into a financial and commercial center and the 2035 New Kuwait development plan,” he explained.
Mohammed Al-Anezi, Assisting Undersecretary for Technical Affairs and Commerce Development, explained the articles of the draft. “We did a field study to find solutions to the problems facing the precious metals industry. This draft is inspired by the existing law, but with amendments to resolve the problems of traders in this field,” he said.
By Nawara Fattahova