Latest News
- South Africa Waives Kuwaiti Visa Fees, Eases Visa Process
- Kuwaiti Diplomats Push For The Return Of 308 Missing Citizens
- Kuwait Municipal By-elections Have Low Turnout
- Islam Opposes All Forms Of Terrorism, And The Immoral Actions Of...
- MoI Confirms Circulating Women’s Prison Riot Video Is From 2016
- Drug Dealers, Officers And Guard Hurt In Shootout At Farmhouse
- Scrutiny On Employee Degrees At Kuwait’s Agriculture Authority
- MoE Allows School Staff To Remain After Official Hours
- Seven Arrested For Selling And Consuming Liquor
- Al-Salmi Blaze Contained By Fire Teams
- Two People Arrested For Forgery And Visa Fraud
- The Police Station Is Now Open 24 Hours A Day For Investigations
Silk City Project Most Crucial To Diversify Revenues
The Harir (Silk City) project is one of the most important sources that will contribute to diversifying the country’s revenues and creating many job opportunities that Kuwait needs to handle the unemployment issue over the years,” said Muhammad Al-Qattan, member of the KAFO program of the Amiri Diwan, reports Al-Rai daily.
Speaking on the sidelines of a symposium on ‘Kuwait Vision 2035’, at the House of Al-Qattan in Al-Shaab he disclosed there are teams working to achieve the vision, which is on the right track although not fast enough but needs time for achievement. Al-Qattan went on to say many countries are now looking for clean energy instead of focusing on oil.
He pointed out that there is a clear danger of the possibility of oil losing its strategic value as was the case with pearls, which was the main source of income for Kuwait in the past and stressed on the importance of achieving the required transformation and reduce dependence on oil by making Kuwait a financial and commercial center with a possible greater role for the private sector.
Al-Qattan also stressed on the need to encourage young people to engage in the private sector and prepare them well by providing what he called ‘real advanced education’ so that they can work in the technical professions needed by the labor market. He also pointed out the importance of encouraging young people to do business without fear.
Al-Qattan pointed out that the important issues covered by Kuwait’s vision include the need to address budget imbalances at the level of revenues and expenditures through increased revenues and rationalization of expenditures and stressed on the importance of rationalizing government administration, especially since there are many uncalled for expenses in addition to the lack of proper exploitation of financial resources. He added, there is the need to create a diversified and sustainable economy in a sustainable, clean and workable living environment, which would positively impact the health of citizens and residents.
Of shale oil, he said it is a real threat to ordinary oil, especially with the development of technology, which contributes to facilitate the extraction process. This development is due to the importance of adopting the knowledge economy and attention to human capital.
Trending News
-
Ministry Systems Hacked, Electricity Bills Altered
11 May 2024
-
Kuwait Unveils Monumental Solar Energy Project For...
06 May 2024
-
Expatriates Caught On Video Stealing Electricity W...
11 May 2024
-
Eid Al-Adha Holiday In Kuwait: Potential 9-Day Bre...
15 May 2024
-
Team To Inspect New Airport's Solar Panel Installa...
12 May 2024
-
Gulf Electrical Interconnection Project Will Boost...
04 May 2024
-
Issuing Work Permits Based On Academic Certificate...
07 May 2024
-
Kuwait Banks Seek Clarity From Central Bank On Cit...
04 May 2024
-
Kuwait Terminated 10,000 Expats Over 5 Years
15 May 2024
-
Kuwait Organizes 30 Events To Protect Children Fro...
04 May 2024
Comments Post Comment