Wednesday , January 23 2019

Private sector hopes in Amiri vision

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah receives Acting Minister of Information Sheikh Mohammad Al-Abdullah Al-Sabah and the technical team tasked with monitoring the progress on the ‘Silk City’ and ‘Boubyan Island’ development projects

KUWAIT CITY, Dec 4, (KUNA): His Highness the Amir’s vision coupled with the private sector’s earnest desire could prove decisive in helping Kuwait reclaim its erstwhile position as a regional commercial hub. With that in mind, Kuwait’s “Silk Road” and “Boubyan Island” development projects, two highly promising enterprises, could very well help make that vision see the light of the day.

The projects have been touted as a historic opportunity for Kuwait to secure alternative sources of revenue in a nation whose economy has long been crude-dependent. In efforts to ensure a foolproof plan for these development projects, Kuwait has partnered with a global consultative firm to examine the pros and cons that come along with such mega projects. According to the firm, the “Silk Road” and Boubyan “Island” projects are likely to be vibrant cities with equally enticing investment climates, given their strategic locations in the country’s northeast.

On the site of the projects, the firm pointed out that it was highly conducive for touristic and recreational enterprises, where “Silk Road” alone could help provide around 220,000 jobs and a Gross National Product (GNP) of up to KD 7 billion. Meanwhile, His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah received Monday at Bayan Palace Minister of State for National Assembly Affairs and Acting Minister of Information Sheikh Mohammad Al- Abdullah Al-Sabah.

The Kuwaiti minister was accompanied by the head of a technical team tasked with monitoring progress on the “Silk City” and “Boubyan Island” development projects and the assistant undersecretary of the general secretariat for Parliament’s financial and administrative affairs Osama Al-Duaij. Al-Duaij, along with members of the team, offered His Highness the Amir an explanation over the intricacies of the projects, which fit into His Highness the Amir’s vision of transforming Kuwait into a regional commercial hub and could help usher in unprecedented development. Sheikh Mohammad Al-Abdullah said the team were honored to have met His Highness the Amir and that the projects were progressing as planned.

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