Sh a ikha Al-Bahar: Public-Private Partnership is a national necessity and a k ey pillar in realizing Kuwait Vision 2035
Al-Bahar noted that PPP projects are a key pillar in realizing Kuwait Vision 2035 and the country's broader development objectives, contributing to the creation of sustainable value for the national economy.
Her remarks were delivered during the opening of the 'Third Kuwait PPP Conference (PPPKW3)' held under the patronage and in the presence of Eng. Noura Al-Fassam—Minister of Finance, Minister of State for Economic Affairs and Investment, and Chair of the Higher Committee for Public-Private Partnership Projects—with the participation of public and private sector institutions, alongside key regulatory authorities.
In her address, Al-Bahar highlighted that Kuwait's PPP model offers promising opportunities, particularly in the energy, infrastructure, logistics, and healthcare sectors. She pointed out that such partnerships can play a vital role in diversifying Kuwait's economy by fostering cooperation in sectors such as renewable energy, technology, and tourism—opening new avenues for growth, generating job opportunities for Kuwaiti youth, and enhancing Kuwait's regional competitiveness.
Long-term Partnership
'At NBK, we take pride in being a long-standing partner in Kuwait's national development journey, having financed and supported some of the largest infrastructure and public sector projects in the country's history. As Kuwait's leading financial institution, we remain steadfast in our commitment to advancing partnership initiatives by leveraging our deep market insight, decades of experience, and robust network of international partners to drive successful project financing and execution.'
She explained that NBK's role is not limited to financing but extends to combining regional expertise, investor confidence, and collaborative efforts to propel the progress and prosperity of the national economy. She emphasized the bank's unwavering commitment to this role, noting its contribution to facilitating the success of partnership projects through innovative financing solutions, advisory services, and capital markets offerings. She also reiterated NBK's full readiness to support upcoming partnership initiatives—particularly those focused on sustainability, which the bank considers among its top strategic priorities.
Huge Potential
Despite Kuwait's abundant financial resources, Al-Bahar emphasized that navigating the accelerating global complexities requires an innovative approach and a strong framework that leverages the private sector's efficiency, expertise, and capital to fund world-class infrastructure, enhance public services, and drive economic diversification. She underscored Kuwait's immense potential to build a future-ready economy underpinned by cutting-edge infrastructure.
She added that partnership projects have the potential to take the lead in key sectors, including transportation, smart cities, social development, healthcare, education, housing, renewable energy, technology, and tourism.
Regulatory Framework
'To ensure the continued success of partnership projects and to maximize their effectiveness in driving national economic growth, it is essential to develop a solid regulatory framework, and a supportive environment built on streamlined decision-making, well-defined legal structures, and transparent procedures,' Al-Bahar stated. She stressed that ongoing dialogue and cooperation between the public and private sectors are vital to improving these frameworks and fostering an environment conducive to successful partnerships.
Furthermore, Al-Bahar praised the recent regulatory reforms and Kuwait Public-Private Partnership Authority's efforts to streamline procedures and foster viable partnership models. She recognized that these advancements are crucial for enhancing Kuwait's competitiveness, while also highlighting challenges related to regulatory clarity, governance, and risk-sharing. She called on all relevant stakeholders to act swiftly and collaboratively to address these issues and attract both local and international investments.
She further stated that PPPs should evolve beyond traditional infrastructure to encompass areas such as education, digital transformation, healthcare technology, and renewable energy. She reaffirmed NBK's commitment to playing a central role in this journey by mobilizing capital, fostering innovation, and advancing sustainable development in line with Kuwait Vision 2035.
Al-Bahar concluded her speech by addressing attendees from both the public and private sectors, stating: 'Let us seize this opportunity as a starting point for collective responsibility in shaping a future where innovation flourishes and the well-being of our beloved country is safeguarded. Together—government, private sector, and financial institutions—let us work to build a stronger, more diversified, and inclusive Kuwaiti economy.'
Kuwait 3rdConference for Public-Private Partnership, held over two days, brings together a wealth of international, regional, and local expertise. The event's program provides valuable insights into best practices, industry standards, and practical experiences in PPPs, equipping stakeholders to address potential challenges and empowering relevant authorities to identify and implement effective solutions.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Kuwait Times
3 hours ago
- Kuwait Times
Workshop aims to boost governance in charitable sector
KUWAIT: The International Islamic Charitable Organization (IICO), in strategic partnership with the Ministry of Social Affairs, organized a specialized workshop on Tuesday titled 'Introduction to Compliance Management: Practical Applications' as part of its ongoing 'Tamkeen' initiative. The workshop aimed to strengthen the principles of governance and institutional compliance within Kuwait's charitable sector. Speaking to Kuwait News Agency (KUNA), IICO Deputy Director General and Head of the Tamkeen initiative Abdulrahman Al-Mutawa said the workshop reflects the organization's commitment to promoting a culture of integrity, transparency and sustainability. He noted that IICO was the first charitable institution in Kuwait to establish an independent compliance and governance department in 2022 — demonstrating a proactive approach to institutional development. Al-Mutawa highlighted that the organization has successfully met all criteria of the institutional evaluation set by the Ministry of Social Affairs, including those related to organizational structure, risk management, governance and internal controls. He added that IICO continues to develop systems and policies aimed at achieving excellence in institutional performance. Participant are seen during the workshop. - KUNA photos He clarified that the workshop is part of a strategic roadmap to protect organizational reputation, minimize risks and enhance administrative efficiency in the charitable field. He also revealed plans to launch a new training program soon, which will certify 'compliance specialists' working in charitable societies in cooperation with the Ministry of Social Affairs, providing them with the expertise needed to excel in the field. For her part, Acting Director of the Department of Charitable Societies and Endowments at the Ministry of Social Affairs Iman Al-Enezi said the workshop is part of a broader strategic initiative to embed a culture of compliance and governance in charitable institutions. She noted that the Tamkeen initiative, launched in 2018, aims to qualify professionals working in the sector and adapt to ongoing administrative and technical developments. Al-Enezi pointed out that since its inception, the initiative has conducted 46 training programs benefiting over 1,500 participants from various charitable organizations. She commended the efforts of IICO and the Tamkeen initiative, reaffirming the Ministry's commitment to supporting initiatives that enhance institutional performance in Kuwait's charitable and humanitarian sectors. The workshop was attended by senior officials from charitable associations and foundations, as well as representatives from the public sector, underscoring the joint efforts to prepare administrative cadres in line with international best practices. — KUNA
Kuwait Times
8 hours ago
- Kuwait Times
Nod to humanitarian work law
Detectives bust second network selling residencies to expats KUWAIT: A high-level government committee entrusted to regulate charity and humanitarian activities in Kuwait approved on Wednesday a draft law for humanitarian work in the country with the aim to boost transparency and accountability. The charitable work committee, headed by First Deputy Prime Minister and Interior Minister Sheikh Fahad Al-Yousef Al-Sabah, has been working for the past several months to increase official oversight over a number of charity organizations in Kuwait that have carried out a large number of charity projects inside and outside Kuwait. The approval came after the ministry of social affairs ordered charity organizations in Kuwait, a majority of which are run by Islamic societies, to halt their work for several weeks in a bid to regulate them. The ministry and the committee both issued stricter reforms to boost transparency of the charity organizations and the government's oversight of their work. The draft law aims to strengthen the principles of governance, reinforce transparency and accountability and enhance the efficiency of implementing charitable initiatives and projects, a statement said. Once officially approved, the new draft legislation is expected to mark a significant step in organizing humanitarian work practices, improve policies and regulations and bolster local and domestic trust in the organizations operating in the charity sector. For the past several decades, Kuwait has played a leading role among the oil-rich Gulf states in charitable work, with a large number of charity projects all over the world, especially in the Middle East and Africa. Separately, the interior ministry announced on Wednesday residency detectives busted a network selling visas to expats for money, the second such bust this week. The ministry said a complaint by a Pakistani who paid KD 650 for a residence permit to another Pakistani led to busting the network. Investigations revealed that the accused, who admitted to receiving the money, is a partner in 11 companies with 162 workers on their records. A number of workers registered on these companies admitted to paying sums ranging between KD 500 and KD 900 to obtain residency permits. Investigations also revealed that some of them paid additional sums ranging between KD 60 and KD 70 to falsify salary data on work permits to obtain family residency permits. A Kuwaiti was also summoned as an authorized signatory for the 11 companies, admitting to receiving monthly sums ranging between KD 500 and KD 600. The ministry said the 12 suspects were referred to the public prosecution, confirming that investigations, arrests and inspections of the headquarters of the concerned companies are underway.
Arab Times
19 hours ago
- Arab Times
Kuwait and Peru building bridges across continents
In 2025, Kuwait and Peru proudly celebrate 50 years since the establishment of diplomatic relations, a golden milestone that reflects decades of cooperation, shared values, and a sincere desire to build bridges between two distant yet increasingly connected nations. Diplomatic ties were formally established in 1975, and over the years, both countries have worked to deepen cooperation in a range of areas. The Embassy of Peru in Kuwait originally opened in 1989 but had to close due to the war. It was officially reopened in 2011, marking a renewed phase of engagement and presence in the Gulf region. This year has already seen notable developments. In April 2025, the Foreign Minister of Peru paid an official visit to Kuwait, meeting with His Highness the Crown Prince and several senior authorities. The visit reflected the importance Peru places on strengthening bilateral ties, not only politically and economically, but also in strategic areas such as food security, where both countries see significant potential for cooperation. Economically, the relationship continues to grow. According to the United Nations COMTRADE database, Kuwait imported goods worth approximately 6.27 million US dollars from Peru in 2023. With Peru's dynamic and diverse economy, particularly in agriculture, mining, and clean energy, and Kuwait's strong financial institutions and investment appetite, the groundwork is in place for deeper trade and investment opportunities. Cultural exchange has also become an important part of the relationship. In 2023, Peru and Kuwait signed a cultural cooperation agreement, supported by the National Council for Culture, Arts, and Letters of Kuwait. These partnerships have paved the way for artistic dialogue, mutual learning, and cultural diplomacy that brings the people of both countries closer together. It's also worth noting that, according to recent estimates, between 150 to 200 Kuwaiti citizens visit Peru each year, a modest but meaningful number that refl ects growing interest in tourism and cultural exploration. As Kuwait and Peru look ahead to the next chapter, the relationship is anchored in shared ambition, openness, and trust. The 50th anniversary is not just a commemoration of the past but a celebration of the future, one filled with opportunity, understanding, and continued friendship across continents
