Kuwait Set To Nationalize Burgeoning Private Sector

Kuwait’s development plans revolve around efforts to localize the country’s burgeoning private sector, said Minister of State for Economic Affairs Mariam Al-Aqail.

These efforts aim to create more job opportunities for nationals in the private sector, the minister told the press on the sidelines of an industrial conference in Kuwait on Monday.

Once that goal comes to fruition, development projects will begin to get off the ground, leading to more foreign investment in Kuwait, the minister explained. She went on to say that human capital is an integral part of the aforementioned plans, given the immense impact it has on economic growth.

Amid a panel discussion, the secretary general of Kuwait’s Supreme Council for Planning and Development Dr. Khaled Mehdi said the number of nationals employed in the private sector remains unsatisfactory.

He attributed the status quo to what appears to be Kuwaitis’ overwhelming preference to work in the government sector, saying the private sector offers various perks in a bid to lure more employees.

The chairman of Kuwait Industries Union Hussein Al- Kharafiagreed that the private sector has “struggled” to beef up its workforce, saying the sector is “obligated” to accomplish that goal.

the head of the Civil Service Commission (CSC) Ahmed Al-Jassar has stressed on the keenness of CSC to end the unemployment issue in line with the plans set by the government in accordance with the strategies drawn up in this field.

Al-Jassar told the daily after the end of the meeting of the Budgets and Final Accounts Committee of the National Assembly that it is necessary to coordinate between government agencies and the private sector to link the educational outputs with the needs of the labor markets.

Al-Jassar explained the private sector is a strong supporter of the government sector in solving the issue of employment and is an active partner in this field. Therefore, the government is using all its mechanisms to increase the percentage of national manpower in this vital sector.

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