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
Arab Times
3 hours ago
- Arab Times
‘Mango Mania' festival boosts Indian mango presence in Kuwaiti markets
KUWAIT CITY, July 27: The Embassy of India in Kuwait, in collaboration with the Agricultural and Processed Food Export Development Authority (APEDA), launched a large-scale promotional campaign to market Indian mangoes and other agricultural products. The campaign included festivals in major shopping malls and hypermarkets, as well as meetings between exporters and importers, on July 23-24. In a press statement, the embassy explained that the goal of the event is to strengthen India's position as a reliable source of high-quality mangoes in the Kuwaiti market, especially since Kuwait is among the top five importers of mangoes from India, with a value exceeding $3 million last year. The campaign included a major event titled 'Mango Mania', at Lulu Hypermarket in Al-Rai, which was inaugurated by Indian Ambassador to Kuwait Dr. Adarsh Swaika, with the participation of a delegation of 10 Indian exporters. The delegation presented several Indian mango varieties, such as Chausa, Mallika, Amrapali, Dasheri, Fazli, and Langra from Uttar Pradesh and West Bengal. Fazli mango received special attention due to its Geographical Indication of Origin (GI) label. Meanwhile, the embassy organized a meeting between Indian exporters and local importers at the Kuwait Chamber of Commerce and Industry (KCCI); with the ambassador, KCCI director general, and representatives of major retail and hypermarket companies in attendance
Kuwait Times
3 hours ago
- Kuwait Times
Kuwait explores use of Bayraktar TB2 drones for environmental monitoring
Newly-acquired drones to support surveillance of borders, critical infrastructure KUWAIT: Kuwait is moving to integrate its newly acquired Bayraktar TB2 drones into environmental surveillance and civilian operations, according to a statement by the General Staff of the Army following a high-level coordination meeting held Sunday. The meeting, chaired by Deputy Chief of the General Staff Lt Gen Sabah Jaber Al-Ahmad Al-Sabah, gathered senior military officials and representatives from the Ministry of Public Works, Kuwait Municipality, and the Environment Public Authority, alongside other civil and security agencies. Discussions focused on how to organize reconnaissance flights and enhance the use of drone-generated data across state institutions, 'in support of observation and follow-up efforts' and to 'enhance the state's capabilities in addressing security and environmental changes,' the statement said. The meeting also reviewed the technical systems onboard the Bayraktar drone and explored its applications in defense, environmental monitoring, and the protection of vital infrastructure and borders. Lt Gen Al-Sabah emphasized the importance of using the drone beyond military settings. 'The utilization of the Bayraktar drone's capabilities is not limited to the military side only but extends to include many civilian sectors of the state,' he said. He called for greater coordination between military and civilian entities to maximize the benefits of this advanced aerial system. He described the drone as 'a qualitative leap in capabilities for monitoring, environmental surveillance, and the protection of facilities and borders,' and underscored the responsibility to invest and deploy the system effectively. The Bayraktar TB2 is capable of flying non-stop for 24 hours, carrying up to 650 kilograms. In 2019, it completed a test flight in Kuwait that lasted 27 hours and 3 minutes, despite high temperatures, strong winds, and sandstorms. The coordination meeting follows the arrival of Kuwait's first Bayraktar drones earlier this month, after a $367 million purchase agreement was signed with Turkish defense company Baykar in January 2023. Kuwait became the 28th country to acquire the TB2, a drone that has been used in conflict zones including Ukraine, Libya, and Azerbaijan. Kuwait has also been training personnel for drone operations, with the first batch of TB2 operators graduating in Turkey in July 2024, and a second group earlier this year. While Kuwait's discussions mark an early step in integrating drones into environmental oversight, drones have increasingly been used for that purpose in recent years. In Pakistan's Punjab province, officials launched a drone-linked environmental monitoring system in September 2024 to track factory emissions and enforce environmental laws. In the Arctic, high-speed drones were tested earlier this year to assess the rate of glacier retreat in Greenland. Research also points to the use of drones at landfills to detect methane emissions with high spatial and temporal precision, offering a low-cost alternative to traditional monitoring methods. — Agencies
Kuwait Times
6 hours ago
- Kuwait Times
Amber dreams
From prayer to prestige, Kuwait's enduring love for the mesbah has turned beads into symbols of culture, craftsmanship - and serious investment By Fahad AlSayegh In Kuwait and across the Arabian Gulf, beads - or as they're commonly called, mesbah - carry layered meanings. Often used for religious devotion, especially in tasbeeh (Islamic prayer recitation), the mesbah also serves as a fashion statement and a mark of prestige. Generations of Kuwaitis have held on to their mesbah not just as a spiritual tool, but as a personal talisman, companion and cultural emblem. Today, it's not unusual to see elders, adults, teenagers - even young children - clutching their beads in shopping malls, mosques or coffee shops. It has become more than a tradition - it's a cornerstone of Kuwaiti identity. For over 120,000 years, humans have threaded stories through beads - tiny seashells, stones, seeds, or bits of glass transformed into something more. In North Africa and the Middle East, some of the oldest beads ever discovered serve as evidence that the art of beadmaking is among the earliest forms of human adornment. As our ancestors spread across the globe, they left behind trails of beads - each one a symbol of beauty, meaning and personal identity. According to the Museum of Natural and Cultural History, beads are more than decoration - they reflect culture, individual aesthetics and the human desire to create and express. Over time, what began as a spiritual practice has blossomed into a booming market. In Kuwait, bead collecting has evolved into a lucrative hobby, with collectors buying, selling and trading high-value beads - especially the sought-after amber beads, known locally as kahrab. This rise in popularity has sparked a question: Is Kuwait the number one country in the Gulf when it comes to beads? To explore the answer, Kuwait Times visited one of the country's shopping malls, speaking to collectors, sellers and bead enthusiasts. 'Of course, it's number one,' said Majed Almutairi, a long-time customer at a renowned bead shop. 'Kuwait is the origin of beads in the Gulf. It has a long history in this field and is distinguished by the quality of its materials - whether it's old manufactured beads or amber.' Khaled Alansari, who runs an online shop dedicated to selling beads, agreed wholeheartedly. 'Kuwait is definitely number one, without a doubt. Beads have been part of our culture for a long time, especially since we're Muslims and we use them frequently for tasbeeh. Also, here, the mesbah is considered a symbol of elegance and a traditional accessory for men.' But perhaps the most passionate advocate for Kuwait's place at the top of the beads market is Hilal Algaoud, a beads expert working at a prestigious shop. 'Not only among Gulf countries - Kuwait is currently number one in the world, especially when it comes to amber,' he said. 'The first people who became passionate about amber were the Kuwaitis. Since the 1960s, Kuwaitis were the first to bring in amber; others followed. Kuwait is the amber capital of the world.' He added that while other Gulf countries might specialize in different materials - like mastik or faturan - and the Levant is known for stones like turquoise, agate and coral, Kuwait remains unrivaled in its amber legacy. 'Other countries look up to us when it comes to kahrab,' he said. At Hilal's shop, he revealed, one particular set of amber beads once reached a bidding price of KD 90,000 - and still wasn't sold because the owner found the offer unsatisfactory. This leads to another compelling question: Why is kahrab so expensive? 'The passion for the hobby increases the value of the bead,' Majed explained. 'In addition to the stone's intrinsic worth, a bead made from rare amber is considered a form of saving or investment. You might even sell it for a higher price later.' Khaled added: 'The high price comes from the value of the stone itself, along with the cost of crafting and transforming it from raw material into a finished mesbah. Many also see it as a form of investment.' Hilal pointed to modern trends and market shifts as well: 'Prices are high because they've become a trend,' he said. 'COVID-19 made prices spike. For example, the price of amber used to be KD 3 per gram. After the pandemic, it shot up to KD 15 per gram!' With values rising steadily, many now wonder - could amber one day rival the value of gold? But beyond prices and markets, beads also carry deep personal stories. Many collectors trace their love for mesabeeh back to childhood. 'I used to sneak and steal amber beads from my father when I was a kid,' Majed laughed. 'One time, I took a rare amber mesbahah of the Macintosh type - and I lost it!' Khaled shared his initiation into bead culture through a family moment. 'My father gave me a mesbahah as a gift and said, 'Now you're a man, you should carry one.' That moment stayed with me, and since then, I've fallen in love with mesabeeh.' Hilal, too, found his inspiration close to home. 'I was influenced by my father and by growing up in the Kuwaiti community, where beads are a big part of our culture,' he said. In every bead lies a story - of heritage, pride and quiet luxury. For Kuwait, the mesbah is more than an accessory; it is a cultural compass, a handmade archive of personal and national history. As generations continue to pass the passion down, Kuwait's bead legacy - especially in amber - only grows more luminous, threading the past, present and future together in the warm glow of tradition.
