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KUWAIT: Conducting business in Kuwait has become more difficult in the last year, according to a recently-released annual report conducted by the International Finance Organization and the World Bank. The report, which assesses the ease of doing business in various parts of the world, shows that Kuwait's rank has been deteriorating. The decline in the rank by nine points could affect the competitiveness of Kuwaiti market to attract foreign investors, which might delay achieving the government strategy to t
urn Kuwait into an international financial and trading center.

The study titled 'Doing Business 2010: Reforming through difficult times' ranked Kuwait in the 61st position among 183 countries covered by the study. Kuwait has slid down from the 52nd position when compared to the study conducted the previous year. The ranking is calculated according to the average obtained from nine different factors that regulate business concerns in the country, and whether they affect business and their development.

The most alarming detail about Kuwait's "doing business" status is the 'starting business' category, which looks into the number of procedures necessary to open a business, in addition to the cost of these procedures and the time range during which they can be completed. In this rank, Kuwait occupies the low 137th position, diving down from the 134th position back in 2009.