REFORMING the legacy is challenging and requires a lot of work. The vision of His Highness the Amir Sheikh Meshal Al-Ahmad for Kuwait to reclaim its status as the "Pearl of the Gulf" must be realized, along with an awareness of the country's interests and aspirations.
On this basis, we cannot go back to the previous approach of ministers, especially when it comes to interests that serve the future. While there were obstacles in the past, most notably the encroachment of lawmakers on the government's powers, the current situation is entirely different.
Vigorous efforts must be exerted by the minister, whoever he may be, to reverse decisions that have harmed the country's economy and to support the Council of Ministers in changing laws that have stifled Kuwait and diminished its productivity.
In the past, administrative practices that fostered corruption, rooted in jealousy, selfishness, and stinginess, were prevalent. The voice of lawmakers instilled fear in ministers and even in the Council of Ministers as a whole, particularly in ministries tasked with managing the national economy professionally and practically, rather than through improvisation.
His Highness was aware of the pitfalls and sensitivities created by the powerful, the deep state, and some shortsighted individuals who fail to understand the importance of economic stability for social reassurance and its benefits to the nation’s strength and resilience when he embarked on his rescue effort.
He initiated this massive operation because His Highness wisely recognizes that Kuwait's true strength lies in a state of functional institutions where everyone understands their roles and responsibilities without infringing on those of others.
Based on this understanding, it is important to investigate the regrettable situation the nation currently faces due to several decisions, particularly those made by the Ministry of Finance and Ministry of Commerce and Industry. Among these, the B.O.T. law stands out as one that needs to be thoroughly reassessed.
It is irrational for Kuwait to violate international laws, particularly those pertaining to the specified timeframes in this legislation.
Despite the right of preemption, is it reasonable to expect an investor to abandon their life's work and put their project up for tender, only to be excluded from the process? Or to force them to build and operate a facility, only to abandon it after 10 or 15 years?
Facilitating business and promoting flexibility are essential first steps in boosting the national economy. Subsequently, the Ministry of Commerce and Industry, the Ministry of Finance, the Ministry of Interior, and others must establish laws that benefit the nation and prevent a return to the chaos of previous times.
His Highness the Amir delivered a firm message to the ministers - "The situation is serious, and I will hold the negligent accountable. The people seek real achievements, and we want unlimited giving. I will closely monitor your performance."
This directive was issued after a careful examination of the state of affairs brought about by improper practices that have persisted for roughly 30 years.
The Council of Ministers faces a challenging task today. Although the Minister of Commerce and Industry Khalifa Al-Ajil is known for his integrity and determination, he must navigate many difficult challenges. Among the most critical is his collaboration with the Minister of Finance, Economic Affairs, and Investment Noura Al-Fassam to boost domestic investment, attract foreign financiers, and overcome the corrupt legacy of past practices.
As we have mentioned, land is only valuable when it is productive. This can be achieved through the buildings that are constructed on it, the people who work there, and the products created there.
The Build, Operate, Transfer system, and the creation of new, modern laws as well as the elimination of product exclusivity, represents some of the most significant barriers that need to be addressed in this regard.
If a factory owner wishes to add another product, this can enhance the economic cycle by increasing domestic sales and potentially enabling exports, benefiting Kuwait in both areas. This not only reduces the large import bill but also generates additional revenues through export fees and future taxes.
