The need to activate the decisions issued regarding the priority of activating the use of the national product in state projects – Al-Shahed Newspaper

Businessman and member of the Federation of Arab Industries, Mohammed Al-Naqi, stressed the necessity of activating the decisions issued regarding the preference for activating the use of the national product in state projects. To the corporate income and value-added taxes, and the negative impact that may result from them if applied to the national industry, which is in need of stimulation to contribute in turn to strengthening and diversifying the resources of the national economy. Whereas, the challenges facing industrialists in Kuwait are the same as they have been for half a century. And more, on top of which is the unavailability of operable industrial lands, and the business environment in the industrial sector is still repulsive and not encouraging, explaining that many industrialists have worked for years to transfer their businesses to Saudi Arabia, the Emirates and the Sultanate of Oman, due to the ease of the business environment in those countries, and the availability of industrial lands. Developed in large areas.
He pointed out that the establishment of any industrial project in Kuwait is very expensive, and the bulk of the cost lies in the land on which the project will be built. The benefit worth millions of dinars.
With regard to small and medium industrial projects, the sources saw that they die before they are born, as the issuance of the industrial license is subject to a lease contract for the place of residence of the project, and the value of one rental meter is not less than 5 or 6 dinars, pointing out that the investor provides a place to establish his project and pays his rent. Up to 4 months before starting the operation, until the imported manufacturing equipment arrives from abroad.
He pointed out that small industrial projects known as “crafts” do not have any advantage at all, in terms of providing lands or exemptions from customs duties from any raw materials that they import from outside the scope of the GCC countries, in addition to that the investor must pay 5% of the total value of the imported invoice.
He added that investors in small crafts in Kuwait are treated in government transactions as if they are investors in large industrial facilities, and they are the ones who are supposed to receive special treatment and care from the responsible authorities in order for their business to grow and expand in the market. The dream of young industrialists in Kuwait is to obtain lands to settle their existing projects. It has become like “following the mirage”, especially those supported by the National Fund for the Care and Development of Small and Medium Enterprises, as 10% of the “Al-Shadadiya” vouchers were allocated on paper for their benefit almost two years ago. About great strides in Kuwait to strengthen the industrial sector through the implementation of 164 programs and projects to increase The capital invested in the industrial sector will reach about 11 billion dinars during the coming period. The implementation of the industrial strategy would achieve an increase in the added value of the manufacturing industries sector from 1.8 billion dinars to about 2.4 billion dinars, and an increase in the industrial sector’s exports from 1.67 billion dinars and an increase in the industrial sector’s exports. About 3 billion dinars. The implementation of the strategy will also increase the number of specialized jobs for national manpower in the industrial sector from 11 thousand jobs at the present time to 25 thousand jobs. The Public Authority for Industry seeks to develop the sector through the establishment of an independent authority for standards and metrology in cooperation with the National Assembly, preparing an industrial strategy National 2035, and the establishment of the Industrial Export Fund. The authority aims to re-evaluate the consideration for use and fees for services provided by the Public Authority for Industry to others, and to assess the current and future status of all sites that the private sector undertakes to rehabilitate and operate to benefit from them upon the expiration of contracts.

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