Thursday, 25 October , 2018     |     1071      |      +      |     

Expats to Hit 5 Million Mark in Kuwait With Opening of Silk City Project

Expats to Hit 5 Million Mark in Kuwait With Opening of Silk City Project : Google
  • Kuwait News

The total amount allocated for providing salaries to the employees of the government sector will increase to KD 24 billion after 2025, reports Al-Nahar daily quoting governmental sources.

They indicated that the country’s budget might increase to KD 40 billion, and the number of expatriates will increase to five million with the opening of the Silk City Project.

The sources explained that this matter will impose a huge pressure on the government and will require initiatives to create an economic atmosphere for attracting direct investments in the entrepreneurship sector. Among the necessary solutions is to launch the concept of free economy.

The government must offload 90 percent of the services it manages, and open up more to the foreign countries in order to render Kuwait as a safe investment hub. It must stay away from centralization and instead allow every governorate to manage their services.

This will allow the governmental institutions to focus on settling the complications that arise in the services. The sources said, “Privatization has become an ideal solution for managing projects and developing services. This should happen through the private sector so that the financial burden on the national budget can be reduced in the coming stages in accordance with the “NewKuwait 2035” vision”.

They indicated that the support should be amended so that it is in accordance with the financial resources of groups and citizens without any form of randomness.

“Among the other solutions is to render support in form of cards and exemptions for citizens for services related to education, health and others for those in need of such support. The government’s role should be to monitor the private sector which will be managing these services”, the sources added.

Regarding transforming Kuwait into a financial and commercial hub, the sources stressed that this will continue to be a dream if no radical changes are made in the way of dealing with the state administration and its dominance on the resources.

They said they wondered how free economy can continue and grow amid the state dominance over more than 90 percent of the public services.

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Category: #Kuwait News | 2018/10/25 latest update at 6:20 PM
Source : Albawada | Photocredit : Google
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