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GENERATIONS FUND POSTS UNPRECEDENTED PROFITS
KUWAIT CITY, Aug 12: Kuwait Prime Minister His Highness Sheikh Sabah Khaled Al- Hamad Al-Sabah confirmed on Thursday the importance of involving companies contracting with government projects to employ Kuwaiti youth in their projects. This came in a speech delivered by the Prime Minister during his visit to Sabah Al- Salem University City. In his speech, His Highness stressed that Kuwaiti youth are the foundation to all developments plans, expressing his optimism in their abilities to built the future of their country.
He stated that 42 Kuwaiti male and female engineers are currently working on the new Kuwait airport project with the international company investing in the airport to gain experience and undertake project management and maintenance in the future. His Highness referred to the Health crisis during the last period that caused delays in many projects, saying, “it’s time to give these projects more attention and focus, youths can be a major part of these projects”. Regarding Kuwait’s development plan for 2035, His Highness the Prime Minister expressed his hope that the National Assembly will speed up the approving of amendments to the law on the Silk City Project. The project, which extends on 1,800 square kilometer, can provide more that 100,000 job opportunities for citizens, in addition to diversity of income sources.
In the speech, His Highness Sheikh Sabah Al-Khaled also stressed the importance of Mubarak Al-Kabeer Port project, that is expected to reach an estimated capacity of 1,800,000 containers a year, and would provide great job opportunities for citizens, in addition to its fi- nancial benefits to the state. The Entertainment City, Sheikh Jaber Bridge, Environmental Fuel, Failaka Island, are all mega projects that would provide great job opportunities for Kuwaiti youths and citizens. He pointed out that the Council of Ministers holds continuous meetings to follow up on projects divided into short, medium and long-term. “Despite the health crisis due to Covid-19, we will continue our lives according to health requirements until the pandemic ends gradually,” he concluded.
Sheikh Sabah Khaled on Thursday affirmed that Kuwait Vision 2035 (the national development strategy) can only be attained with employment of the Kuwaiti youth capacities. In the dialogue he held with excellent university graduates, the prime minister declared that 10 of the top-grade students would be enrolled at the government-affiliated entrepreneurs’ center to be involved in new development enterprises. Advanced nations scan distinguished students to employ them in key projects for they consider the junior citizens as a significant investment, he added. He lauded the junior volunteers who have been working in the fight against coronavirus. At times, 100 persons were needed to accomplish some tasks during peak of the virus crisis, however, 1,000 citizens would apply for the job, he said, affirming nationals’ desire to serve Kuwait despire hazards emanating from the infections. The dialogue was attended by Deputy Prime Minister and Minister of Defense Sheikh Hamad Jaber Al-Ali Al-Sabah, Minister of Oil and Minister of Higher Education Dr. Mohammad Abdulatif Al-Fares, Foreign Minister and Minister of State for Cabinet Affairs Sheikh Dr. Ahmad Nasser Al-Mohammad Al-Sabah, Minister of Information and Culture and Minister of State for Youth Affairs Abdulrahman Bedah Al-Mutairi, the head of the diwan of His Highness the Prime Minister Abdulaziz Dekheel Al-Dekheel, a number of senior officials from the secretariat general of the cabinet, Kuwait University and the Diwan of His Highness the Prime Minister.
His Highness the Prime Minister responded to questions and proposals by a number of the excellent graduates, assuring them that their suggestions would be re-examined in details very soon. His Highness the Prime Minister announced on Thursday that the future generations fund has achieved unprecedented profits. His Highness the Prime Minister, addressing Kuwaiti top students, stated, “Your country is rich; for we enjoy excellent financial solvency however we have some shortfalls in the economy. “It is insensible to have a single source of income” for the Kuwaiti economy. Much has been done to transform Kuwait into a commercial-financial hub, however strains between the executive and legislative authorities “have placed a host of issues backwards,” the prime minister revealed. In response to a question on how to employ the public debt law for executing mega projects and pave way for diversifying the income, the prime minister re-affirmed, “The State financial solvency is excellent and the flaws exist in the undiversified economy.” He indicated that Kuwait is following examples of other nations to resort to borrowing for coping with financial or economic burdens. (KUNA)