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KUWAIT CITY, March 18: “All projects concerned with developmental plans are important and supportive to the economy, but priority should be for the improvement of the legislative environment that serves to attract investors for investing in local projects”, reports Al-Shahed daily quoting Dr Jassim Al-Fahad.
Dr Al-Fahad is a member of the former Higher Committee for Mega Projects affiliated to Council of Ministers, Head of the Kuwaiti Consultants Club and Professor of Economics. During an interview with Al-Shahed daily, he said, “We should work on the vision of His Highness the Amir to transform Kuwait into a financial and commercial hub by bolstering local investment process by directing our sovereign investments to invest in the new economic cities”. Dr Al-Fahad went on to say, “We should not negatively view privatization at the local level”. He affirmed that privatization experiments have been successful in major countries such as the United States of America, many European countries, China and others, adding that Kuwait should emulate those countries’ experiences in privatization.
Dr Al-Fahad stressed the need to be cautious about privatizing all sectors, indicating that the institutions responsible for privatization should establish the foundations of quality, competitiveness and excellence in this regard.
No more expats in senior posts
Chairperson of the parliamentary Replacement and Employment Committee MP Khalil Al-Saleh has announced that last week’s meeting marks the beginning of the implementation of the replacement policy, reports Al-Rai daily.
Al-Saleh disclosed the plan laid down by the committee entails total replacement of expatriates in government bodies with Kuwaitis by 2023, reduce the number of expatriates employed in the private sector and retain those needed by the country. He said the “employment of expatriates in administration posts is no longer acceptable.”
He told the daily, “The committee has started implementing the plan. We will not stop until we see Kuwaitis occupying the employment market. He called on all concerned bodies to organize employment files and prepare plans to address loopholes which contributed to the rising unemployment rate among Kuwaitis.” He also urged the concerned ministries, such as the Ministry of Higher Education, to set up a mechanism for overcoming challenges that prevent Kuwaitis from being employed like the academic output which does not suit the labor market. He emphasized the need to provide training for graduates to fulfill the requirements of the labor market.