There is a governmental proposal to abolish the Supreme Council for Planning and Development, and replace it with another that is concerned with drawing up an ambitious economic policy and preparing promising development programs.
The sources told Al-Rai daily that, “A government committee has prepared a proposal in which it indicated that the Supreme Council for Planning is not included in the development engines in the country, and that it is not very reliable in bringing about the targeted shift in the country’s economic development path, whether in the short, medium or long term.”
The sources added, “The idea of establishing the council proposed to be named, the Economic Development Board, is based on establishing an entity responsible for achieving targeted economic development in the country, maximizing non-oil public revenues, increasing the level of employment of Kuwaitis, in addition to improving the local business environment, to the extent that raises the country’s ranking in global competitiveness indicators, and raising the capital flows into the country, with increasing participation of the private sector.
According to sources the role of the proposed new council includes bringing about diversification in the economic base, including offering development investment opportunities to the national and foreign investors, noting that the prospective council will serve as a pillar for managing the economic future in Kuwait and bringing about sustainable development in the country.
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