
Kuwait seeks to benefit from UAE rail expertise
KUWAIT: Minister of Public Works Dr Noura Al-Mashaan affirmed Kuwait's commitment to learning from pioneering regional experiences in the railway sector, particularly the successful model established by the sisterly United Arab Emirates through the formation of the Hafeet Rail Company. Her remarks came during a meeting held Sunday with a delegation from the UAE's Etihad Rail Company, headed by CEO Eng Shadi Malak. The visit falls within the framework of strengthening cooperation and exchanging expertise among Gulf Cooperation Council (GCC) countries in infrastructure development.
KUWAIT: Minister of Public Works Dr Noura Al-Mashaan is seen during the reception of a delegation from the Emirati company (Etihad Rail), headed by CEO Eng Shadi Malak during the official visit to the country.- KUNA
Dr Al-Mashaan praised the Hafeet Rail Company project — a joint initiative between the UAE and the Sultanate of Oman — as an exemplary model of Gulf integration in infrastructure. She noted that such collaborative efforts support shared economic interests and reinforce regional connectivity. 'Cooperation in this strategic sector underscores Kuwait's commitment to supporting Gulf integration and fostering stronger economic and geographic ties among GCC member states,' she said. Al-Mashaan stressed the importance of continued coordination among technical teams to ensure the successful implementation of high-quality infrastructure projects that serve the development aspirations of the region.
For his part, Undersecretary Eid Al-Rashidi reiterated the ministry's dedication to leveraging successful regional experiences, emphasizing that early-stage collaboration in rail projects contributes to establishing a sustainable and efficient railway network that enhances regional interconnectivity and advances common development objectives. During the meeting, attendees were briefed on a technical presentation detailing Kuwait's future railway plans. Minister Al-Mashaan outlined the ministry's strategic vision to build a sustainable national railway network inspired by leading regional practices, while addressing environmental and economic considerations in line with Kuwait's broader goals for sustainable development. — KUNA

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Arab Times
5 hours ago
- Arab Times
Kuwait updates regulations for public properties and service fees
KUWAIT CITY, June 30: The Ministry of Finance announced on Sunday the issuance of a new ministerial decision amending the regulations governing the use of state-owned real estate and service fees, in a move aimed at achieving a fair balance between public interest and the needs of individuals and institutions. In a press statement, the Ministry said the decision comes as part of its broader efforts to regulate the use of government-owned properties and protect national resources. Ministerial Resolution No. 54 of 2025 introduces amendments to the regulations first outlined in Resolution No. 40 of 2016. Minister of Finance and Minister of State for Economic Affairs and Investment, Eng. Noura Al-Fassam, stated that the amendments are intended to ensure fairness, clarify procedures, and improve transparency in the utilization of state assets. 'These changes aim to establish a fair balance in how state-owned properties are used by citizens and entities, while safeguarding public interests,' Al-Fassam said. She added that the updated regulations were the result of a comprehensive pricing study comparing Gulf and international markets. The amended prices remain below average rates in Gulf Cooperation Council (GCC) countries, and were developed with Kuwait's economic and social conditions in mind. The goal, Al-Fassam noted, is to promote equal opportunities and secure sustainable revenue streams for the state. The amendments cover a wide range of activities involving the use of state-owned property, including chalets, rest houses, commercial complexes, cooperative societies, banks, and warehouses. They also apply to educational institutions, sports clubs, and hospitals. In support of national food security and the promotion of local production, the Ministry also announced the stabilization of agricultural coupon prices under the new regulations. The revised framework reflects Kuwait's continued efforts to modernize its public asset management policies while maintaining a strong emphasis on economic fairness, efficiency, and sustainability.


Arab Times
5 hours ago
- Arab Times
Kuwait moves to diversify revenue with new MNE tax framework
KUWAIT CITY, June 30: The Ministry of Finance announced on Sunday the issuance of the executive regulations for the Multinational Entities Group Tax Decree-Law, describing it as a major milestone in Kuwait's economic reform agenda and a testament to the country's commitment to achieving financial stability and diversifying its revenue streams. In a statement, the Ministry confirmed that Ministerial Resolution No. 55 of 2025 has been issued to implement Decree-Law No. 157 of 2024, which governs the taxation of multinational entities (MNEs) operating in Kuwait. The legislation includes the introduction of a supplementary Domestic Minimum Tax (DMTT), developed in accordance with the Organisation for Economic Cooperation and Development's (OECD) second pillar of the global tax framework. The Ministry noted that the executive regulations aim to clarify the law's provisions, define implementation procedures, enhance transparency, and provide clear guidance to relevant stakeholders in line with international best practices and standards. Minister of Finance and Minister of State for Economic Affairs and Investment, Eng. Noura Al-Fassam, emphasized that the implementation of these regulations marks a significant step in the nation's reform journey. 'This is a key development that contributes to creating a fair investment environment and promoting tax justice,' she said. Al-Fassam added that the new legislation aligns with Kuwait's development strategy, New Kuwait 2035, which seeks to diversify income sources and reduce reliance on oil revenues. She stated that initial projections indicate potential annual revenues of approximately KD 250 million from the new tax, thereby enhancing the state's capacity to build a resilient and sustainable economy capable of meeting future challenges. The Minister also revealed that the Ministry is planning to organize a series of awareness workshops in the near future. These sessions will aim to support the implementation of the law and provide detailed explanations of the executive regulations to the relevant authorities and specialists. Dates and details of the workshops will be announced in due course.

Kuwait Times
18 hours ago
- Kuwait Times
Kuwait seeks to benefit from UAE rail expertise
KUWAIT: Minister of Public Works Dr Noura Al-Mashaan affirmed Kuwait's commitment to learning from pioneering regional experiences in the railway sector, particularly the successful model established by the sisterly United Arab Emirates through the formation of the Hafeet Rail Company. Her remarks came during a meeting held Sunday with a delegation from the UAE's Etihad Rail Company, headed by CEO Eng Shadi Malak. The visit falls within the framework of strengthening cooperation and exchanging expertise among Gulf Cooperation Council (GCC) countries in infrastructure development. KUWAIT: Minister of Public Works Dr Noura Al-Mashaan is seen during the reception of a delegation from the Emirati company (Etihad Rail), headed by CEO Eng Shadi Malak during the official visit to the country.- KUNA Dr Al-Mashaan praised the Hafeet Rail Company project — a joint initiative between the UAE and the Sultanate of Oman — as an exemplary model of Gulf integration in infrastructure. She noted that such collaborative efforts support shared economic interests and reinforce regional connectivity. 'Cooperation in this strategic sector underscores Kuwait's commitment to supporting Gulf integration and fostering stronger economic and geographic ties among GCC member states,' she said. Al-Mashaan stressed the importance of continued coordination among technical teams to ensure the successful implementation of high-quality infrastructure projects that serve the development aspirations of the region. For his part, Undersecretary Eid Al-Rashidi reiterated the ministry's dedication to leveraging successful regional experiences, emphasizing that early-stage collaboration in rail projects contributes to establishing a sustainable and efficient railway network that enhances regional interconnectivity and advances common development objectives. During the meeting, attendees were briefed on a technical presentation detailing Kuwait's future railway plans. Minister Al-Mashaan outlined the ministry's strategic vision to build a sustainable national railway network inspired by leading regional practices, while addressing environmental and economic considerations in line with Kuwait's broader goals for sustainable development. — KUNA