The Ministry of Finance has recently formed six teams to examine and conform ventures of the fourth development plan (2013-2014) with projects included in budgets of government departments, Minister Mustafa Al-Shimali announced.
Al-Shimali, in an inaugural statement of the conference themed “role of the private sector in development and infrastructural projects of 2013,” revealed that more than KD 5.4 billion ($19 billion) had been earmarked for execution of the development strategy (2013-2014). This covers forecast costs of various aspects and sections of the plan, namely concerning infrastructure.
Action is underway for improving the regulatory status of financial investments in the country, “preparing an adequate administrative and legal environment for the private sector and upgrading the infrastructure, such as hiking electrical energy output and increasing productivity of water desalination plants to meet mounting demand,” Al-Shimali declared.
Indicating that the private sector is being given the chance to take part in projects for upgrading Kuwait’s land, maritime, air transport networks, energy, health and education services, Al-Shimali affirmed that the national development strategy is devised to transform Kuwait into a lucrative financial hub, with an environment of free competition, equal opportunities, and mounting output.