Coronavirus advantages on Kuwaiti economy, business

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Focus on policies in second phase

KUWAIT CITY, June 27: The coronavirus pandemic has become one of the major crises that has completely and comprehensively hit the economies of the world’s countries, which has crippled its annual progress as well as reshaping the economic map of the balance of power. The spread of the coronavirus has affected Kuwait, as has the rest of the world, with bills estimated at an initial value of KD 12.6 billion – equivalent to USD 41.4 billion.

This combined value represents the opportunity to decrease Kuwait’s GDP for 2020, medical expenses, loans and salaries, grants and rewards, evacuation trips for citizens and residents, housing, and others. As the value of these losses to the national economy as a result of this economic health disaster has increased, it is necessary to stand around the most important additions that the first administration of Kuwait must use to develop the institutional process.

As per EXCPR CO. – consulting and business management – has decided through its national role to draw the most important topics that the State of Kuwait went through during the crisis of the spread of coronavirus, in order to rely on it in the design of the policies of the next phase, which can be considered lessons learned imposed in the form of the daily management of the state.

Additionally, the size of the corona crisis accounted for 30% of the Kuwaiti economy, which should be used to make up for the losses, said Nayef Bastaki, CEO of EXCPR CO. The following are the most prominent of these additions, which must be identified and analysed in an integrated manner, towards obtaining more positive results expected and developing the operations of the state’s public institutions, both in the business sectors and through responsiveness and dynamic sway, and thus to make the plight of corona an administrative economic grant to the state:

Anticipating events
Since the onset of the coronavirus in Kuwait, specifically in late February 2020, the public sector has been on the lookout for virus deployment stations from the People’s Republic of China. That perception has led to the taking and initiative in reducing the scale of losses. This is confirmed by the commendation and similar steps taken by the rest of the surrounding countries and the follow-up of the initiatives of Kuwait in reducing the spread of the epidemic. Therefore, reading the public scene well has had an impact in the face of the accelerated events, which led the Kuwait to master the regional center in anticipating events, which we see as the need to rely on it as a methodology and action plan for the rest of the public sector institutions in the next phase

Accurate reports
Decision makers may be constantly going to work sites, as well as narrowing the gap and obtaining the details of the information and data required accurately without any margins. This can be concluded to the extent that reports need to be developed and the mechanization process in obtaining important value-added information, which would be good material towards making the right decisions, thereby reducing the amount of risks expected. In this regard, EXCPR CO. does not invite everyone to take positions, but this pioneering experience indicates the importance of reconsidering the feasibility of the reports submitted and periodic meetings, in order to increase the effectiveness of the business.

Right person
The corona crisis underscored the importance of selecting the right leader in the right position to perform the work and tasks to the fullest, according to the scarcity of resources and the short duration of the work. This crisis demonstrated the magnitude of the productive wheel of some state institutions, which have been taken over by competent and highly capable people. The pioneering selection process for some members of the committees and working chambers has the effect of limiting the spread of the crisis and directing it to the right tracks as soon as possible.

Compliance with the law
The Corona crisis restored confidence in the law and the importance of applying it effectively to all without difference, which strengthened the role of the modern civil state in the management of institutions. The crisis in the application of laws and regulations has remained present over the past period, making the plight of the coronavirus an opportunity to restore the prestige of law, regulations and regulations. This step, which requires the continuation of this strong approach, must therefore be commended.

Gradient in law
The public sector also recognized the importance of gradually applying laws and regulations, especially since the community was not accustomed to these methods of narrowing the area of freedoms, but the awareness of the people and their great awareness was an important element in helping state institutions to perform their tasks to the fullest. For example, the Ministry of Commerce and Industry has gradually closed shops and commercial markets, which has contributed to the understanding and achievement of this method by citizens and residents.

Planning
The rapid spread of the coronavirus imposed its method on the performance and activity of various state institutions, in directing the sources of production towards achieving the desired goals, in the days and times. It was necessary to set the overall target for all ministries of state, which made them work continuously towards this goal. Day-to-day work steps also play a role in widening the gap and speedy outcomes ahead of planned duration. State public institutions should adopt this approach after the end of the Corona distress, which will promise more positive results.

Media platforms
As we also mentioned earlier for the importance of having a single media source during crises to receive information and data, as a result of false news and instilling a sense of reassurance among the members of the community. This is what has already happened in the country, and this is what the public sector has done since the first days of the crisis, a platform was launched run by the official speaker of the Council of Ministers in Kuwait, to inform everyone of all that is going on and what has been taken almost daily. We believe that the continuation of all ministries and state institutions on their various activities in launching this step is very important, which will undoubtedly gain unlimited transparency.

Modern technology
Modern technology imposed its order during the coronavirus crisis in a large way, which made public sector adopt the method of modern applications, which has been disabled for many years, to be the difficult figure in managing the health-economic crisis.

After the security authorities imposed their order on the state’s business sectors through the application of the partial and total curfew, the rest of the state institutions found it to be forced to deal with these modern application in the management of the affairs of the country.

The Ministry of Commerce and Industry has successfully implemented this system to enter the central markets through the use of barcodes, which has achieved the need for individuals to buy their food needs, in line with the requirements of the social dimension – the health aspect.

These efforts call for continued tele-service for the rest of the business sectors in various state institutions, especially as the State of Kuwait is on the verge of the high vision “Kuwait 2035”, which requires keeping pace with the speed of modern technology in public affairs. The presence of such smart systems also has the effect of significantly reducing the operating expenses of state institutions and increasing the level of efficiency.

Outstanding crises
The Corona crisis has also overshadowed some of the other problems and challenges that have been stuck for years. The problem of loose labor has weighed heavily on the entire efforts of front-line workers, which made the decision to evacuate those numbers, which remained a problem that surrounded the Ministry of Social Affairs and Labor in adjusting the proportion of expatriates against citizens in Kuwait.

In addition, the Corona crisis demonstrated the amount of productive capacity required to operate state institutions, and the problem of “disguised unemployment” was solved.

The corona crisis could also open the door to the distribution of Kuwaiti nationality to its Bedoun beneficiaries, who have provided great services and sacrifices to this country, especially in light of the imbalance in the demographics.

The Ministry of Public Works has also taken advantage of the country’s partial and total curfew to repave roads and streets. This crisis has therefore given the opportunity for various state institutions to solve some of the problems and challenges that have haunted them for many years. In conclusion, perhaps the enormous financial cost spent to address the challenges surrounding the coronavirus crisis in Kuwait require learning from that experience and seeking to use it as much as possible in the development of state institutions and seeking another alternative to the source of oil in the development of the economy.

That huge economic cost has also had an impact on the Government of Kuwait, which will remain a debt of USD 4 per barrel over the next 10 years. In other words, the general budget for the coming years will need to be the price of a barrel of oil minus USD 4, to cover the losses and expenses of the current corona crisis, which will continue until 2030. All of this makes the state institutions and their higher administrations faced with a different kind of test, in order to face this general waste, which must be sought alternatives and creative ways in the management of institutions, in order to amplify the additions to

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