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Ministers greatly elated Amir’s evaluation of bourse promotion

KUWAIT: Acting Prime Minister and Foreign Minister Sheikh Sabah Khaled Al-Ahmad Al- Sabah (second from left) chairs the Cabinet’s meeting yesterday. — KUNA

KUWAIT: The Cabinet held its regular weekly session at Seif Palace yesterday under chairmanship of the Acting Prime Minister and Foreign Minister Sheikh Sabah Khaled Al-Ahmad Al-Sabah. The ministers expressed deep satisfaction at His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah’s positive assessment of promoting the national bourse by the FTSE. Following the session, Minister of State for Cabinet Affairs and Acting Information Minister Sheikh Mohammad Abdullah Al-Mubarak Al-Sabah stated that it kicked off by briefing the ministers about contents of a message addressed by His Highness the Amir to His Highness the Prime Minister expressing congratulations on the FTSE certification for Boursa Kuwait as an emerging market.

His Highness the Amir, in his address to the premier, praised the enormous and continuing efforts exerted by the Kuwaiti departments to make such an achievement possible. His Highness named in this respect the Ministry of Commerce and Industry, the Capital Markets Authority (CMA), Boursa Kuwait Company and the Kuwaiti Clearing Company, underscoring the arduous work for preparing all data required by the FTSE for the eventful designation. For their turn in this regard, the ministers expressed deep appreciation toward His Highness’ felicitations on this achievement, affirming confidence that it would lead to positive impact on the bourse, with respect of luring local and foreign capitals. Moreover, they have noted that this accomplishment has come at a crucial time following other achievements related to executing the State economic reforms’ program, which in turn will contribute to making positive impact on the economic activity, in general.

Follow-up report
The ministers turned to some tasks, examining the first follow-up report of the annual plan (2017-2018) for the periods (1-4, 30-6, 2017) and listened to Minister of Social Affairs and Labor and Minister of State for Economic Affairs Hind Al-Sebeeh, who spoke about policies on human, social and economic development. The report included strategic projects, execution of a number of development ventures in the oil, health, educational, infrastructural sectors, in addition to housing projects and a recommendation for following up on projects outlined in the annual scheme (2017-2018).
They also examined a recommendation from the committee of economic affairs on the seventh regular report of the permanent committee for overhauling the business environment and boosting competition. It also included executed ventures and the Cabinet approval for including the CMA as a member in the permanent commission for improving the business environment. The Cabinet hailed election of Dr Saud Hilal Al-Harbi as Chairman of ALESCO, the Arab League Educational, Cultural and Scientific Organization.

Competition protection
Meanwhile, the Cabinet approved a draft decree for forming a competition protection apparatus board of directors, Sheikh Mohammad said. The minister added in remarks following the weekly Cabinet meeting that the board of directors would include Dr Rashid Shebib Al-Ajmi as a Chairman, Abdullah Mohammad Al-Efasi as a Deputy Chairman, as well as Ahmad Abduallah Al-Mutairan, As’aad Ibrahim Al-Anbaee and Sameerah Jasim Gharib as members. – KUNA

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