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Partnership Projects Authority set to unveil three new initiatives

The projects are the largest and most competitive, featuring global participation and the debut of international companies in Kuwait, highlighting the country’s capacity to attract significant investments and diversify its economy.

  • The projects, announced by the Partnership Projects Authority, include announcing the qualified companies for the Al-Shaqaya project, aimed at generating electricity from renewable sources, with the bidding process scheduled soon.

  • Eng. Nayef Al-Haddad, Director of the Research and Strategic Planning Office at the Public-Private Partnership Projects Authority highlighted the extension granted to qualified investors for the Al-Zour North Station project’s second and third phases, with bids set to be accepted by September 30.

Eng. Nayef Al-Haddad, Director of the Research and Strategic Planning Office at the Public-Private Partnership Projects Authority, announced the authority’s plan to launch three new projects within the next week, according to Al Rai newspaper.

These projects are the largest and most competitive in terms of cost and participation strength, involving companies from various countries and marking the entry of international companies into Kuwait for the first time. This development underscores the country’s capability to attract substantial investment opportunities and diversify its economy and investment avenues.

Eligible companies

Al-Haddad, speaking at a joint workshop between the Chamber of Commerce and the Partnership Projects Authority titled “The New Vision of Kuwait through Partnership Projects,” mentioned that these projects include announcing the qualified companies for the Al-Shaqaya project, aimed at generating electricity from renewable sources, with the bidding process scheduled soon.

Additionally, he noted the upcoming publication of eligible companies for the fixed telecommunications project in cooperation with the Ministry of Transportation in the Official Gazette.

He highlighted the extension granted to qualified investors for the Al-Zour North Station project’s second and third phases, with bids set to be accepted by September 30.

Emphasizing the project’s significance in enhancing Kuwait’s electricity production capacity by 2,600 megawatts, he underscored its designation as a ‘strategic security initiative’ and the commitment to expedite its implementation.

Al-Haddad explained that the role of the private sector is to alleviate the burden on the state through partnerships and the implementation of infrastructure projects aimed at achieving community goals.

He emphasized that the partnership projects currently being proposed enhance the activation of the private sector’s role, enabling it to serve as a provider, operator, and manager of the services offered, thus promoting common societal interests.

Achieving the goals and interests

Al-Haddad added that during the workshop, opinions were exchanged and representatives of the private sector were heard in order to establish work mechanisms that achieve the goals and interests of both parties. He noted that this meeting is not the first between the authority and the chamber, as their ongoing cooperation continues. He emphasized the chamber’s crucial role in attracting foreign delegations and investment companies.

He stated that the authority presents state projects as investment opportunities. Cooperation between the public and private sectors is essential to activate this partnership, providing suitable mechanisms and listening to private sector representatives to achieve mutual goals and benefits.

Regarding the importance of the partnership between the two sectors, Al-Haddad stated that its goal is to create job opportunities for Kuwaiti youth, establish joint-stock companies for listing on the stock exchange, and alleviate the burden on the state budget by financing projects. This initiative aims to drive economic growth, attract foreign capital, and diversify the sectors represented on the stock exchange, including fields such as electricity and sewage treatment companies.

Five key goals of the partnership

  1. Generating employment opportunities for Kuwaiti youth
  2. Diversifying and listing joint-stock companies
  3. Alleviating the burden on the state budget
  4. Funding projects and stimulating economic growth
  5. Attracting foreign capital

Challenges

Al-Haddad mentioned that there are challenges facing partnership projects, emphasizing that this issue is not unique to Kuwait but is global. Governments worldwide encounter numerous challenges and issues when implementing partnerships with the private sector. However, what is crucial is the state’s ability to establish effective mechanisms to manage the process and overcome these challenges.

He stressed that the authority in Kuwait aims to address these challenges through ongoing communication with the private sector and fostering direct dialogue with all stakeholders, including banks, companies, and investors.





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