KUWAIT: Partnership between both private and public sectors is imperative for a diverse and sustainable economy in accordance with Kuwait's 2035 Vision, General Secretary of the Supreme Council for Planning and Development (SCPD) Dr Khaled Mahdi said Monday. Mahdi made the statement while inaugurating the second Kuwait conference for partnership between the private and public sectors, organized by the Kuwaiti Federation of Engineering Offices and Consultant Houses with the participation of some government agencies and under the sponsorship from SCPD.
Partnership between the two sides is one of the main tools for economically enabling the private sector, including small and medium enterprises, and encouraging foreign investment, Mahdi told attendees. Cooperation between the two sectors "is no longer a complementary policy for economic development only, but also necessary and inevitable for economic growth," he said.
It contributes to creating new job opportunities, raising production efficiency, achieving better value for investment and helps with the transfer and localization of technology. The partnership also creates investment opportunities for the local and foreign private sector, he elaborated. Although SCPD projects have so far been focused on infrastructure, specifically generating electricity, water desalination and sewage treatment, Mahdi said, the authority will be expanding to other fields when collaborating with the private sector.
Meanwhile, Bader Suleiman, head of the Kuwaiti Federation of Engineering Offices and Consultant Houses (KFEOCH) which organized the conference, said the gathering aims at discussing executive, legal and legislative aspects required to achieve the success of partnership projects and removing obstacles. The three-day conference will also touch upon the best global practices in this field to avoid delays and ineffecient government measures, he said. Partnership is the way for the private sector to actively participate in achieving renaissance and prosperity of society, he said, stressing the federation's support for this aspect to reach the desired positive results. – KUNA