News


New Kuwait Summit 2019

Steering Kuwait Towards a Better Tomorrow

 

 

It was our pleasure to participate in New Kuwait Summit 2019 (the “Summit”) which was held on 10th and 11th December 2019 at Sheikh Jaber Al-Ahmad Cultural Centre under the patronage of His Highness the Prime Minister Sheikh Sabah Al Khaled Al-Hamad Al-Sabah, the Supreme Council for Planning and Development and The Ministry of Information to discuss the main features of New Kuwait Vision 2035 (the “NK2035”).

The Summit discussed serval topics in various fields including the roadmap suggested by the government to implement The Kuwait National Development Plan in order to achieve NK2035, these seven pillars are:-

             1. Public Administration.

             2. Economy.

             3. Human Capital.

             4. Living Environment.

             5. Healthcare.

             6. Infrastructure.

             7. Global Positioning.

The suggested roadmap for achieving NK2035 was launched since 2010 through five phases, two phases were completed and the third phase will start on 2020, the five phases are:-

  •                 2010-2015   Legislature Activities.
  •                 2015-2020   Infrastructure Building.
  •                 2020-2025   Private Sector Engagement.
  •                 2025- 2030  Knowledge Based Economy.
  •                 2030-2035   Towards Smart Kuwait

 

Mrs. Mariam Al-Aqeel, acting Finance Minister and Minister of State for Economic Affairs confirmed and stressed during her speech that “Kuwait’s private sector is an ‘integral part’ of the country’s development plans placing great emphasis on an increasingly significant part of the economy”. The Summit addressed serval topics through ten sessions about putting Kuwait in a global context, attracting finance to Kuwait, Northern Economic Zone, developing the local infrastructure, reforms to drive sustainable and diversified growth economy, digitalization, public health, oil & gas latest development,  human capital and finally the Kuwait’s living environment.

 

MMA Law decided to sponsor Summit to publish the latest updates related the commercial and business laws which were recently modified to attract international investors to Kuwait since the NK2035 and the announced roadmap will require more engagement from the private sector to achieve NK2035.