ASSESSMENT OF ANTI-CORRUPTION AND MONITORING MEASURES IN KUWAIT'S PRIVATIZATION PROGRAM
Journal Title: European Journal of Business and Social Sciences - Year 2014, Vol 3, Issue 4
Abstract
The State of Kuwait is a small rich oil based economy characterized by dominance of the large public sector and limited participation of the private sector in major economic activities . Such dichotomy has adversely affected real economic growth, in particular, the nonoil GDP. The government of Kuwait, in its efforts to diversify sources of income and energize the role of the private sector in economic activities, opted to reduce the large size of the public sector by embarking on a privatization program. For this purpose, The Supreme Council for Privatization (SCP) was established in 2012 to regulate, implement, and supervise the privatization program. This paper aimed to highlight on the objectives of Kuwait's privatization program and described in details the three phase implementation process. The paper has also addressed the anticorruption and monitoring measures the SCP intends to adopt to insure the transparency, good governance, and fairness of the privatization program. Finally, recommendations and policy implications that can enhance the privatization process and the performance of SCP were presented.
Authors and Affiliations
ABDULHAMEED HUSSAIN, Ph. D. | Deputy Minister Supreme Council for Privatization Council Of Ministers, Kuwait Email: aah@kuwaitbox.com Tel: 0096566617171, MOHAMMAD RAMADHAN. Ph. D. | Research Scientist Techno Economic Division Kuwait Institute for Scientific Research Email: mrammad@yahoo.com Tel: 0096599672906
Keywords
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