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Kuwait to invest $15.75bn in 2017-18 development plan

Kuwait to invest $15.75bn in 2017-18 development plan

Financing of the current five-year development plan is being shared by the public and private sectors

Kuwait has revealed plans to invest KD 4.75bn ($15.75bn) in its 2017 to 2018 development plan, the secretary general of country’s Supreme Council for Planning and Development has said.

Khaled Mahdi told a news conference yesterday that the state budget would contribute KD 1.59bn of the total, according to state new agency KUNA.

More broadly the financing of the country’s five-year development plan is being shared between the general government (49.3 per cent), oil sector (33.8 per cent) and private sector (16.9 per cent).

The plan has several goals including effective government, a sustainable and diversified economy, developed infrastructure, sustainable livelihood for citizens, high-quality healthcare, creative manpower and improving Kuwait’s international status.

Under the first goal, the country plans to launch e-government services and structural reforms as well as eight projects to revitalise the administration. These include the upgrading of the state structure and the execution of a five-year IT plan by the end of 2019.

For the second initiative, the government plans to improve the quality of education, expand accommodation at higher studies colleges, integrate ‘citizens of special challenges’ into society, improve care services for the elderly, boost social cohesion and empower the country’s youth through 40 affiliated projects.

Elsewhere, the government plans to boost private sector participation through state economic and financial reforms, a focus on the knowledge economy and the overhauling of the tourism industry. The 34 affiliated projects include the construction of the Al-Zor refinery, due to be finished by December 5, 2019, and an environmental fuel projects scheduled to be finalised by April 12 2018.

In terms of infrastructure, the government plans five major ventures to develop transport, IT and communication infrastructure and ‘hike’ electric power. Among the 32 affiliated projects are the expansion of Kuwait International Airport, due for completion by the end of January 2022, and the Sheikh Jaber Al-Ahmad bridge, due to be finished on November 1 2018.

To boost ‘livelihood’ in the country, Kuwait plans to secure houses for citizens, employ renewable energy, preserve the air, incorporate waste management and 16 other projects. These include the South Al-Metlaa housing project, which is due to be completed on September 1 2019 and the treatment of hard waste in Kabad, due by August 31 2017.

In healthcare, the country plans to boost standards, minimise chronic diseases, increase the number of hospital beds and 22 other initiatives. New facilities include Sabah Hospital, due to open in August 2018, and others in Farwaniya and Adan due to open in December and June 2019 respectively.

Finally, the country plans to boost its international status by improving its image abroad and focusing on arts, media and development. Thirteen projects are planned, including the Sheikh Saad Al-Abdullah Islamic Centre, due to be finished by March 31 2020, and Kuwait Centre for Publications and Unique Manuscripts, due to be finished by December 1 2020.

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