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Northern Zone may bring in $400 bn


First Deputy Prime Minister and Minister of Defence Sheikh Nasser Sabah speaking during Wednesday’s session of the National Assembly

KUWAIT CITY, May 30: The National Assembly on Wednesday approved reports of the Budgets and Final Accounts Committee on the final accounts and linked budgets of Kuwait National Fund for Small and Medium Enterprise Development (SME Fund), Kuwait Authority for Partnership Projects (KAPP), Kuwait Direct Investment Promotion Authority (KDIPA), Central Bank of Kuwait (CBK), Environment Public Authority (EPA), Kuwait Credit Bank (KCB), Kuwait News Agency (KUNA) and Kuwait Fire Service Directorate (KFSD).

Meanwhile, First Deputy Prime Minister and Minister of Defense Sheikh Nasser Sabah Al- Ahmad Al-Sabah expects the Northern Zone (Silk City and Boubyan Island) to attract over $400 billion in foreign investments. In response to the MPs during discussion of reports on the budgets, Sheikh Nasser pointed out that attracting foreign investments for the northern area requires a special law.

On other issues raised by MPs such as pollution, Sheikh Nasser stressed that the Supreme Council for Environment had previously discussed ways to deal with environment problems in Shuaiba, particularly the industrial pollution.

He said the council has suspended issuance of licenses in Shuaiba until completion of tests aimed at determining the extent of damages in the area. He added the council discussed in its recent meeting the purchase of sewage treatment facilities to prevent malfunctions in sewage treatment plants as it happened in Mishref recently and to stop the leakage of wastewater into the sea. Furthermore, the legislature will hold a special session on Thursday to deliberate on reports of the Health Committee about the draft law on mental health, Finance Committee on the proposed amendment of Companies Law number 1/2016, and Youth and Sports Committee on the proposed establishment of Kuwait Anti-Doping Authority.

Other items on the agenda include the government’s work program for fiscals 2016/2017 to 2019/2020) in accordance with Article 98 of the Constitution, regulation of the legal profession, Penal Code, rights of persons with disabilities, tax on remittances of expatriates, and civil service.

By Abubakar A. Ibrahim Arab Times Staff

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