UN official commends Kuwait's knowledge-based economy efforts

KUWAIT, Nov 23 (KUNA) -- A UN official on Monday touted Kuwait's efforts over recent years to turn its economy led by the public sector into an economy based on knowledge and innovation by putting national development strategies in place.
The UN Secretary-General's Representative and Resident Coordinator Dr. Tariq Al-Sheikh made the remark during a virtual debate held in Kuwait by the UN and the Supreme Council for Planning and Development.
He said Kuwait's 2035 development strategy targets transformation from an economy based on resources into an innovation-based one, thus becoming a regional cultural, financial, trade and institutional hub.
He added that Kuwait has stupendous potential to be a key destination for investments across the region and even has necessary capabilities and tools to notch up its 2035 drive.
Therefore, he maintained, the UN seeks to open the way for partnerships built on innovation and invention in order to create sustainable opportunities for a promising future based on sufficiency in all state sectors.
On his part, Secretary-General of the Supreme Council for Planning and Development Dr. Khaled Mahdi underlined Kuwait's efforts over recent years to transform its economy, which completely relies upon oil, into an economy built on knowledge and innovation.
Deputy Director-General of the Direct Investment Promotion Authority Sheikh Dr. Abdullah Sabah Humoud Al-Sabah said his agency continues to back Kuwait's direct investment vision since it is a hub for investment reliant upon added-value and innovation.
He elaborated that the body's task is to contribute to promoting economic diversification in Kuwait by means of boosting sustainability towards a knowledge-based economy. (end) ak.msa.mt