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Kuwait plans to invest US$15.75bn in its 2017-2018 development plan, the secretary general of the country’s supreme council for planning and development Khaled Mahdi said
Mahdi said that US$5.27bn of the amount will be borne by the state budget and the rest of the funds will come from the public sector, including the energy industry, and from private investors. 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 many goals including effective government, sustainable and diversified economy, developed infrastructure, sustainable livelihood environment, high-quality healthcare, creative manpower and Kuwait’s international status.
The first goal encompasses 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.
For the diversified economy goal, 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.
In terms of infrastructure development, the government plans five major ventures namely 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 in November 2018.
Mahdi also mentioned rapid securing of houses for citizens, employing renewable energies, preserving the air quality, waste management, plus 16 others as part of the government’s plan for livelihood enhancement.