LOC19:23
16:23 GMT
Minister of Social Affairs and Labor and Minister of State for Planning and Development Hind Al-Sabeeh speaking in the conference
KUWAIT, Nov 24 (KUNA) -- The previous development plan unveiled some imbalances in different domains, primarily the poor contribution of non-oil sectors in the country's economy, said Minister of Social Affairs and Labor and Minister of State for Planning and Development Hind Al-Sabeeh.
Addressing a conference on Kuwait's projects organized by MEED Magazine on Monday, the minister said that poor infrastructure and failure to link the structural plan to the development drive are also involved.
To overcome such challenges, she noted, the new developmental plan included a number of orientations such as diversifying the structure of the economy, expanding the role of the private sector and providing an integrated package of services to support small and medium-sized enterprises (SMEs).
"The plan called for expanding the role of the private sector in managing and building schools, hospitals, healthcare centers, projects relating to developing the infrastructure," Al-Sabeeh added.
A complete strategy was designed for urban development aimed at providing plots of land in new areas to set up services of health, social and educational facilities as well as trade projects, she pointed out.
In a press statement on the sidelines of the conference, Mohamad Ghazi Al-Mutairi, Kuwait National Petroleum Company (KNPC) CEO, said that the company works on raising the refining capacity to 1.4 million barrels per day (bpd).
He added that the total portfolio of projects that the KNPC seeks to implement is estimated at KD 11 billion (about USD 40 billion), noting the projects include environmental fuel due to start in 2018, Al-Zour Refinery which will begin in 2019 and importing liquid natural gas (LNG).
Meanwhile, the public authority for public-private partnership projects President Adel Al-Roumi said that a big leap will happen in Kuwait if five developmental projects are implemented in the upcoming ten years.
Due to such projects, he noted, the contributions of the private sector in the gross domestic product (GDP) will increase by 20 percent, indicating that the government will start these projects by the end of 2014.
The government is clearly serious to revitalize the economy in the upcoming period to overcome challenges that affect implementing projects, he added. (end)
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