1,705 Kuwaiti firms registered at Dubai’s Chamber, says KBC

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‘Manufacturing units in Kuwait reduced due to no clear strategies’

KUWAIT CITY, Jan 4, (Agencies): Up to 1,705 Kuwaiti companies are registered at the Dubai Chamber of Commerce and Industry, the Kuwait Business Council (KBC) in Dubai and the Northern Emirates said on Thursday. Kuwaiti employers in Dubai reached 712, and employees 151, the KBC added in a statement, citing records of the Ministry of Human Resources and Emiratization.

The KBC noted that it had discussed with Kuwaiti government officials extension of insurance protection to the Kuwaiti entrepreneurs in the UAE under “free business,” as well as the possibility of similarly applying the advantages of supporting national labor, as well as social allowances.

It noted that Kuwait’s social insurance system does not cover Kuwaiti private projects’ owners in the UAE. Th e delegation met with Director General of Kuwait’s Public Institute for Social Security Hamad Al-Humaidhi who welcomed the proposal, and issued directives to study it in line with the relevant GCC agreements, and from the legislative and executive prospects.

They also discussed the issue with Secretary General of the Manpower and Government Restructuring Program (MGRP) Fawzi Al-Majdali. The Board Chairman of Kuwait Industries Holding Company Mohammed Al-Naqqi disclosed that the number of manufacturing industries in Kuwait has reduced due to several reasons including the absence of clear industrial strategies, reports Al Shahed daily.

Al-Naqqi said majority of the local manufacturers headed abroad, mostly to the neighboring countries due to these reasons, while those currently in Kuwait are overwhelmed. He stressed that Kuwait has been suffering from a lot of problems and obstacles which are standing in the way of growth and development of industries such as absence of modern technological industries that are capable of bolstering the mechanism of industries and improving their performance, and shortage of skilled employees to encourage industrialization.

Al-Naqqi highlighted the absence of concerned authorities to conduct advanced feasibility studies as well as absence of specialized and equipped industrial areas and lack of basic infrastructure. He affirmed that all of the abovementioned reasons along with many others have led to frustration in the industrial sector. Al-Naqqi called on concerned authorities to reconsider and pay attention to industries for diversifying state revenues instead of relying solely on oil revenues.

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