Fourth struc­tural plan turns Kuwait into com­mer­cial, fi­nan­cial hub: PM Plan pro­vides roadmap for de­vel­op­ment projects

Kuwait Times - - LOCAL -

His High­ness the Prime Min­is­ter Sheikh Jaber Al-Mubarak Al-Ha­mad Al-Sabah stressed that Kuwait’s fourth struc­tural plan would fur­ther trans­form the na­tion into a com­mer­cial and fi­nan­cial hub. Patronizing and at­tend­ing a cer­e­mony to sign the plan, His High­ness the Prime Min­is­ter ex­pressed his ap­pre­ci­a­tion to the ef­forts ex­erted in pre­par­ing this new strat­egy.

His High­ness the Prime Min­is­ter also praised of­fi­cials in charge of the fourth struc­tural plan, say­ing that they took into con­sid­er­a­tion the cur­rent pop­u­la­tion growth in Kuwait which in re­turn re­quired more projects fo­cus­ing on eco­nomic and fi­nan­cial de­vel­op­ment.

The plan will con­trib­ute to the vi­sion set by His High­ness the Amir Sheikh Sabah Al-Ah­mad Al-Jaber Al-Sabah on transforming the coun­try into a re­gional and an in­ter­na­tional com­mer­cial and fi­nan­cial hub, said the Prime Min­is­ter.

Mean­while, Kuwait Mu­nic­i­pal­ity’s Di­rec­tor Gen­eral Ah­mad Al-Man­fohi re­it­er­ated com­mit­ment on achiev­ing the Amiri no­ble goal of turn­ing the coun­try into a global fi­nan­cial and com­mer­cial hub. He made the state­ment dur­ing the sign­ing cer­e­mony of the con­tract for the Fourth Struc­tural Plan 2040, with the in­ter­na­tional lead­ing con­sul­tancy of­fice of Perkins and Will Global, jointly with the Dar Al-Han­dasah for de­sign and con­sul­tancy.

The Mu­nic­i­pal­ity has em­barked on steps, in co­op­er­a­tion with the Kuwait Di­rect In­vest­ment Pro­mo­tion Author­ity (KDIPA), for iden­ti­fy­ing the fi­nan­cial ar­eas in the coun­try where for­eign firms will be al­lowed to op­er­ate with no lo­cal agents, and per­mit­ted to own these ar­eas with tax and cus­toms ex­emp­tions, Man­fohi said.

He added that there are other govern­ment bod­ies in­volved in the process, like the Min­istries of Com­merce and In­dus­try, and Fi­nance, of­fer­ing ad­min­is­tra­tive fa­cil­i­ties to the for­eign firms in these ar­eas.

Ac­cord­ing to Man­fohi, the Mu­nic­i­pal­ity has sub­mit­ted a re­port to the Higher Com­mit­tee for the Struc­tural Plan and Great Con­struc­tion Projects on the ir­reg­u­lar­i­ties of the Third Plan, and how to avoid them in the new one. He boasted the fact that the Gulf Co­op­er­a­tion Coun­cil (GCC) Sec­re­tar­iat had en­trusted the Mu­nic­i­pal­ity with de­sign­ing the bloc’s uni­fied struc­tural plan, fo­cus­ing on the bor­der ar­eas of the mem­ber states.

No­ble goal Ur­ban constitution

Head of struc­tural plan­ning at the Kuwait Mu­nic­i­pal­ity, Saad Al-Muhilbi re­ferred to the Fourth Struc­tural Plan 2040 as the coun­try’s “ur­ban constitution and roadmap for de­vel­op­ment projects.” Kuwait has been among the first coun­tries of the re­gion that adopted struc­tural plans, which made it free of slums. In the mean­time, Perkins and Will Global rep­re­sen­ta­tive David Green stressed the im­por­tance of the Fourth Plan that will turn Kuwait into an in­no­va­tion cen­ter. He added that the de­vel­op­ment plan set by the Kuwaiti Govern­ment that re­flects the state’s clear vi­sion for the fu­ture.

KUWAIT: His High­ness the Prime Min­is­ter Sheikh Jaber Al-Mubarak Al-Ha­mad Al-Sabah is seen on the side­lines of the sign­ing cer­e­mony. — KUNA

Kuwait Mu­nic­i­pal­ity’s Di­rec­tor Gen­eral Ah­mad Al-Man­fohi (left) signs the agree­ment.

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