KUWAIT CITY, Sept 28: Economic expert and former Minister of Housing, Yahya Al- Sumait, has emphasized the importance of Kuwait entering the automotive industry through strategic partnerships with China. In a recent interview with Al-Seyassah daily, Al-Sumait urged the nation to go beyond its current cooperation with Beijing, which has largely focused on housing and infrastructure projects, and instead focus on industrial sectors, particularly car manufacturing. He praised China’s leading role in the global automotive industry and suggested that Kuwait should harness this expertise to create a thriving domestic industry.

Al-Sumait called for the establishment of a giant industrial city in Kuwait, centered on new and innovative ideas. He believes this would be key to revitalizing Kuwait’s economy, attracting foreign investment, and removing barriers to development. The industrial city, he said, should include factories for the production of cars, iron and steel, electrical devices, and building materials like cement. He hopes Kuwait could establish both large and medium-sized factories, pushing the country toward self-sufficiency in manufacturing.

One area Al-Sumait highlighted was petrochemicals, urging the government to tap into this highly profitable industry. He questioned why Kuwait has not yet ventured into manufacturing and assembling various devices, as many Asian countries have successfully done. With its strategic location and financial resources, Kuwait has the potential to become a major exporter to Arab, Gulf, and Middle Eastern markets. Al-Sumait also pointed to the advantages provided by Mina Abdullah, which could play a vital role in increasing Kuwait’s export activity. Expressing dissatisfaction with Kuwait’s continued reliance on imported goods, Al- Sumait stressed that the time had come for the nation to become an industrial powerhouse in the region. He stressed the importance of fostering public-private sector partnerships in this new venture, ensuring that industrial lands are not allocated with annual fees, a practice that has led to exploitation. Al-Sumait criticized the current system, where many individuals who obtained industrial lands at low fees now rent them out at exorbitant prices. He stressed that this new city should operate with transparency and fairness, free from such manipulations.

Al-Sumait also emphasized the urgent need for Kuwait to diversify its sources of income, urging the government to move away from its heavy reliance on oil. He warned that the oil industry is subject to unpredictable global political and financial fluctuations, citing the time when oil prices plummeted to just $8 per barrel. With developed nations actively seeking alternatives to oil, Al-Sumait underscored the importance of Kuwait implementing income diversification policies in a concrete, actionable way, rather than leaving them as mere words on paper. He also suggested that the Public Authority for Applied Education and Training prioritize training students in trades and industries.

This would not only support Kuwait’s industrial ambitions but also address youth unemployment by providing graduates with skills relevant to the growing industrial and economic sectors. To further support industrial growth, Al-Sumait called for a reform of Kuwait’s outdated commercial and industrial laws, ensuring they align with modern developments, especially the rise of e-commerce. He argued that financial laws must also be modernized to accelerate Kuwait’s transformation into a global financial and commercial hub.

By Najeh Bilal
Al-Seyassah/Arab Times Staff