Latest News
- 3 Fuel Theft Cases In Al-Jahra & Hawally
- Municipality Launches Nationwide Campaign To Regulate Advertisin...
- Union Of Petroleum Workers Calls For A May 1 Holiday For The Wor...
- MPW Prepares For Impending Rains With Proactive Measures
- Kuwait Ministry Of Health Unveils 2024 National Anti-Smoking Pro...
- The Kuwait University Council Will Discuss AI Policy Adoption
- The Customs Union Has Halted Sit-in, Waiting For Further Develop...
- Experience Scattered Rain And Thunderstorms AheadI In Kuwait
- The Ministry Simplifies The Payment Process For 'Your Fear Is Th...
- Kuwait Oil Company Explores Renewable Energy And Green Hydrogen...
- Kuwait's Model Houses Stay The Same Height
- Service Commission's Haphazard Structure Hits Public Sector Job...
Kuwait Has Funded 1,035 Smes Worth Kd 177 Mln
Kuwait has funded some 1,035 small and medium enterprises (SMEs) in the last three years, at a cumulative cost of KD 177 million ($584.4 million), the country’s Public Authority for Industry (PAI) said on Sunday. The information was revealed by PAI’s Deputy Director General Mohammad Al-Adwani amid talks to promote homegrown goods, sponsored by Kuwait’s Commerce Minister Khaled Al- Roudhan.
Small and medium development projects give impetus to industrial growth, besides creating ample job opportunities, said the official, saying the government has put in place an alluring business environment able to lure foreign investment. He explained that industrial output is the focal point of Kuwait’s 2035 economic development strategy, which aims to transform the country into a global commercial hub.
Global
The government has taken tangible and concrete steps to ensure that local goods would ultimately be synonymous with world-class standards, added the official, at a time where global industries continue to achieve meteoric growth. Kuwait’s Chamber of Commerce and Industry is the driving force behind entrepreneurship in the country, said Fahad Al-Jouaan, a Board of Trustees member.
Supporting local industrial output is not only limited to the purchase of local goods, rather, it encompasses numerous factors, including keeping SMEs afloat, he added. Kuwait’s competition protection authority has been formed with the purpose of bolstering the national economy, said the watchdog’s head Dr Rashid Al- Ajmi, pointing out that the state body seeks to eliminate any forms of irregularities plaguing the local market. As an economically-free country that encourages open trade, Kuwait’s local industry sector boasts an ever-growing workforce, according to Kuwait Industries Union’s chairman Rashid Al-Kharafi.
Â
SOURCE : ARABTIMES
Trending News
-
Kuwait Airways Introduces Convenient Home Luggage...
15 April 2024
-
Expat Residency Law Amended By Kuwait Ministerial...
20 April 2024
-
Two Expats Are Arrested For Stealing From Salmiya...
17 April 2024
-
Kuwait Airways Resumes Flights To Beirut And Oman...
15 April 2024
-
Temperature Increases Cause Electricity Load Index...
21 April 2024
-
Ministry Announces Separate Time For Amnesty Seeke...
21 April 2024
-
Work Permits Will Be Issued For One Year Under The...
27 April 2024
-
3 Expats Caught In Salmiya With 213 Bottles Of Loc...
23 April 2024
-
Thief Returns Stolen Money With An Apology Letter...
15 April 2024
-
The Ministry Connects With Violators Of Residency...
23 April 2024
Comments Post Comment