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Wednesday , December 11 2019

Finmin looks into ‘revisions’ of economic reform document – Total of 2,622,788 expats have valid residencies: statistics

KUWAIT CITY, May 20: Deputy Premier, Minister of Finance and acting Minister of Oil Anas Al-Saleh has looked into the economic reform document revisions recommended by various ministries, taking into consideration the comments of the parliamentary Finance Committee, reports Al-Anba daily quoting sources.

Sources disclosed the work was completed through the concerted efforts of the ministries to address loopholes found in the document; especially in relation to the schedule for executing reforms and amendments to the Privatization Law, finding other sources of national income, and rationalization of expenditures.

Sources said the revised document also include new decisions concerning expatriates working in the government sector, stating no expatriate will be employed in government institutions even in what is considered as marginalized jobs which Kuwaitis tend to avoid, such as drivers, cleaners and ‘mandoubs’ (company representatives), while those with rare fields of specialization will be exempted.

This is in addition to increasing the ‘Kuwaitization’ rate in administrative and technical sectors, so all government institutions have been asked to prepare lists of expatriates working in their respective departments as a prelude to replacing them with Kuwaitis.

Sources pointed out the ‘Kuwaitization’ policy will be implemented even if the government will be forced to increase the current national manpower quota. They affirmed, “Kuwaitis should not be on the waiting list for government jobs while expatriates occupy such posts.”

Talking about the projects on five Kuwaiti islands, sources revealed the Supreme Planning Council proposed separation of these projects from Al-Harir project, such that each island will have independent projects.

A total of 2,622,788 expatriates in Kuwait have valid residencies, as per statistics issued by the General Department for Residency Affairs, reports Al-Anba daily.

According to an informed source, the number of expatriates has increased by 300,000. Indians top the list of expatriates with valid residencies with 876,000, followed by 580,900 Egyptians, 229,860 Filipinos, 190,430 Bangladeshis, 145,300 Syrians and 14,623 Iraqis.

The Investment Study Center, the training branch of the Union of Investment Companies (UIC), conducted a training course entitled, “Professional Management of Financial and Real Estate Portfolios”, from May 16-18, 2016 at the center which is located in the Kuwait Chamber for Commerce and Industry.

Dr Mohammad Al-Desouqi introduced the program for the representatives of member-companies in UIC and other companies.

Acting Director of the center and Director for Technical Support in UIC Fadwa Darweesh said that the program aims to enhance the role of the private sector in the development of the Kuwaiti economy.

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