THE DEVELOPMENT OF CONSUMER CITIZENSHIP EDUCATION AND COMPETITION LAW IN KUWAIT

Clement Osuya

LAW - FACULTY OF LAW - AMBROSE ALI UNIVERSITY

Abstract

The purport of this research study examines the relevance of National and International regulatory frameworks to the growth and development of Kuwait’s foreign investment policy initiatives in view of the undeniable importance of consumer citizenship education and competition law - in contemporary times. In so doing, our primary objectives are to assess the municipal and international laws applicable and those that need to be acceded to for the creation of a regulatory environment that encourages fair business competition between/amongst municipal and foreign investors. Also examined are, the mediums of ensuring consumers’ rights and privilege assurance with a view to protecting foreign investors from the risks associated with investment, The socio-political environment of Kuwait vis a vis its consumer education and fair competition regulation, The theoretical and practical actors in the field of Kuwait’s foreign investment (inclusive of banks and other financial institutions), Dispute resolution , competing norms, compensation for nationalization of foreign investments as well as consumers citizenship education. In this regard, references have been sourced from Kuwaits national, regional and international laws (e.g. Law No. 68 of 1980, Law No. 74 of 1979, UNCTC Draft code, NAFTA, ASEAN agreements, WTO etc.), renowned authors on Foreign Investment, consumer education as well as competition law, and socio-economic statistics from the World bank database, all covering the years 1990 - 2020. Flowing from the above therefore, findings portray that consumer protection/satisfaction remains a power drive for foreign investment to ensure Kuwaits economic progression. The use of a ‘time series’ analysis approach to study the impact of foreign investment vis a vis inflow on economic growth and employment in Kuwait showcases the trajectory for foreign investment and equally enables a futuristic planning system. Importantly, the rise in extensive research has proven that there is an increased Foreign Direct Investment (FDI) and Foreign Portfolio Investment (FPI) likelihood in view of the advancements in innovation, particularly through technology. In essence therefore, Kuwaits ingenuities to achieve diversification of income generating sources whilst simultaneously creating jobs for citizens and expatriates through consumer-friendly means continues to spur the realization of foreign investment - and empirically so. This research therefore contributes its quota to filling the lacuna in studies that access/discuss the impact of consumer citizenship education and competition law in promoting Foreign Investment in the State of Kuwait.

Keywords

"CONSUMER CITIZENSHIP EDUCATION" "COMPETITION LAW" " KUWAIT FOREIGN INVESTMENT"