Friday , October 20 2017

MP proposals to diversify economy – ‘Give industrial sector opportunity to play its role’

KUWAIT CITY, Jan 1: MP Mohammad Al-Huwailah has presented a proposal to enhance the Kuwaiti economy and diversify sources of income by calling for the establishment of industrial cities to attract Kuwaiti and foreign capital. The proposal includes the creation of industrial zones that will comply with laws and regulations to protect the environment, building of industrial cities to attract Kuwaiti and foreign capital, the preparation of a comprehensive vision for the development of the industrial sector to be part of one of the main sources of income in Kuwait, development of industrial laws to keep pace with successive global changes in the field of industry and the Government’s commitment to grant land to establish projects on them.

Al-Huwailah explained a strong economy of any country must be based on strong foundation topped by the industrial development and political stability which falls within the context of national security.

He added, “The nation which owns factories that produce the basic needs such as food and medicine are better able to withstand the international pressure. He said for this reason the support of the industry at the current stage is as a financial investment for future than in the real value that may result from investing in the Fund for Future Generations, especially that investment in industrial sector will result in a remarkable development in the experiences and competencies of the workforce, especially the young promising Kuwaitis who are looking for self-realization and promotion of economic development.

He stressed the downtrend in the price of the oil which has slumped makes it imperative for the concerned authorities to give the opportunity for the industry to play its role towards the community because the industrial sector in Kuwait is suffering from many barriers to compete with foreign industries. He said perhaps the most prominent obstacles facing the recovery of the industrial sector is the scarcity of land and the small size of labor market in addition to the fierce competition among imported products.

He added, the industrial sector can be a strong factor in support of Kuwait economically and politically and it can also turn into a second tributary for the national economy after oil. He stated this requires determination and the decision to support this trend with active steps to follow it as well as good planning through the preparation of strategic studies, setting up well-defined projects to implement and evaluate these projects and follow them up.

This is in addition to studying the difficulties encountered while implementing existing plans and work to overcome them. Meanwhile, Chairman of Legal and Legislative Committee in the National Assembly MP Mubarak Al- Harees said the committee will prepare its report on the Anti- Corruption Authority next week after New Year’s vacation in time for the National Assembly session scheduled for Jan 12, 2016. Moreover, member of the Human Resources Development Committee in the National Assembly MP Ahmed Lari said if the strategic alternative salary bill is approved without changes “it will have an active role in addressing the imbalance since the government is now trying to peg the loopholes by increasing the prices of some products and cutting down on subsidies.” He pointed out that the committee will activate the strategic alternative law and “we will ask the government to submit its views because the alternative will come out with solutions to salaries and bonuses.” He expressed support to the distribution of sources of income and finding logical solutions to cover the budget deficit on condition the citizens are not affected.

The Priorities Committee of the National Assembly has completed its report on mandating the Parliament to study the laws approved by the Parliament and not implemented by the government. According to parliamentary sources, the report will be presented to the National Assembly during the Jan 12 session. The committee will meet on Jan 10, 2016 to complete the follow-up program of the work of the ministries and the extent of implementation of the development plan. It is worthy to note the committee two weeks ago had invited ministers and asked them to give reasons for the lack of implementation of laws and each minister separately gave justifications and were recorded in the report.

By Abubakar A. Ibrahim Arab Times Staff

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