Digital economy has become a foundation of global economy

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Commerce minister inaugurates business forum

KUWAIT CITY, Nov 12, (KUNA): Digital economy has become one of the most important and mostly used applications nowadays to the extent that it has turned into a basic foundation of the global economy, says Minister of Commerce and Industry Khaled Al- Roudhan.

This (virtual) emerging market is forecast to grow significantly in Kuwait in the future, Al-Roudhan said, in a statement on the sidelines of inaugurating a business forum, organized by Ooredoo telecommunication company and attended by Minister of Social Affairs, Labor and Minister of State for Economic Affairs Hind Al-Sabeeh.

The minister revealed that special laws would be enacted to help in developing pioneering businesses and supporting youth’s startups.

Kuwait has a record of successful technology startups, said Minister Al- Roudhan, affirming that his department encourages the digital economy in all sectors. Investment in information technology has turned into a refuge for the young business persons, he said, also indicating that the ministry’s incentives, such as issuance of the electronic licenses, has boosted such enterprises.

Ooredoo CEO Sheikh Mohammad Al-Thani has affirmed that the company aspired to transform the virtual world into an integrated one, where incentives are provided to business launchers and empowering them to reap earnings. “We support His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al- Sabah’s vision, New Kuwait 2035, for overhauling the national infrastructure and elevating quality of life for all citizens,” he said.

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