LOC20:48
17:48 GMT
KUWAIT, Nov 25 (KUNA) -- The Kuwaiti Cabinet on Tuesday stressed eagerness to achieve the vision of His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, and proceed with steps to allure foreign investments and improve business environment in a manner that aligns with developmental ambitions to transform the country into a global and regional financial hub.
Chaired by His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah at Bayan Palace, the cabinet underlined the need of cooperation between the Kuwait Direct Investment Promotion Authority and the GE Vernova Technology Center, which has integrated control systems and big operational potential.
Meanwhile, the Cabinet expressed thanks to UAE President Sheikh Mohammad bin Zayed Al Nahyan for marking the Decades of Brotherhood initiative as of January 29 for one week, Deputy Prime Minister and Minister of State for Cabinet Affairs said in a statement after the meeting.
The Cabinet further voiced appreciation to UAE Vice President, Prime Minister and Dubai's Ruler Sheikh Mohammad bin Rashid Al Maktoum and Sheikh Mohammad bin Zayed for these great stances.
The ministers appreciated this imitative, which showed the deep-rooted fraternal and historic bonds between the two countries, and common Gulf structural cohesion and support of their leaderships and nations throughout history, the minister added.
In addition, the meeting stressed continued financial reforms aiming to upgrade Kuwait's sovereign credit rankings in global indicators.
The Cabinet affirmed also keenness on providing the requirements of the current and future phase to achieve financial sustainability and maintain Kuwait's credit ranking.
Furthermore, the Cabinet saw a presentation by Minister of Electricity, Water and Renewable Energy, and Acting Minister of Finance and Minister of State for Economic Affairs and Investment Sabeeh Al-Mukhaizeem presented an explanation, in the presence of Governor of the Central Bank of Kuwait Basel Al-Haroon, about Standard and Poor's' announcement last Friday on upgrading Kuwait's ranking from A+ to AA- keeping a stable future outlook due to advanced general financial reforms.
He attributed the step to some reasons topped with the progress in financial and economic reforms mainly in economic diversity, modernizing infrastructure, diversifying non-oil renovates sources and other key steps in this regard.
He also told the minsters about the His Highness the Prime Minister's tour to the GE Vernova Center on the 10th anniversary of founding the center in Kuwait.
Furthermore, Minister of Education Sayed Jalal Abdulmohsen informed the Cabinet about Kuwait's winning of United Nations Educational, Scientific and Cultural Organization (UNESCO) membership for a four-year term.
Praising this step, the Cabinet said this achievement showed Kuwait's prestigious cultural position, adding it was the fruits of cooperation among the competent bodies of the Ministries of Education, Foreign Affairs and Information.
Winning the UNESCO membership mirrors Kuwait's precious heritage and cultural record which boosts the country's role in preserving human heritage and maintaining its components in line with the world-class criteria.
Additionally, the ministers were informed about the official accompanying delegation of His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah to Bahrain to attend the 46th ordinary session of the GCC Supreme Council due on December 3.
The Cabinet saw a report by the Public Authority for Civil Aviation on the positive results of International Civil Aviation Organization on Kuwait regarding the safety of aviation.
Kuwait committed to 86 percent, an outcome that shows an advanced level of abiding by international standards of the organization and the requirements of overseeing safety.
The organization is based on this result when appreciating countries' commitment to aviation safety, and is a national achievement, which reflects the efforts of all sectors and directorates of the authority.
On the 55th Anniversary of Oman's National Day, the Cabinet extended sincere congratulations for Sultan Haitham bin Tareq, commending bilateral fraternal and historical relations between the two sides.
Also, the ministers saw a presentation by Minister of Health Dr. Ahmad Al-Awadhi about overseas treatment and measures taken by the ministry over the two last years to address challenges in this dossier.
Finally, the Cabinet extolled efforts by Minister of Defense Sheikh Abdullah Ali Abdullah Al-Sabah, and Chairman of PACA Sheikh Humoud Mubarak Al-Humoud Al-Sabah as well as all staff that that led to getting the ICAO's appreciation. (end)
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