This morning of Sunday 9th May, the 9th Conference on Development and Infrastructure Projects set up according to B.O.T system inaugurates its activities under custody of Deputy Prime Minister for Economic Affairs and Minister of State for Development Affairs and Minister of State for Housing Affairs Sheikh Ahmed Al-Fahd under the banner (Kuwait 2030). The conference is organized by Commercial Markets Complex Company in conjunction with JW Marriot Hotel. Chairmen and Managing Director of Commercial Markets Complex Company and head of the supreme committee organizing the conference Tawfiq Al-Garah said on the occasion that (the conference reveals the state's plan for carrying up the new development plan submitted by Sheikh Fahd Al-Ahmed, this plan is a turning point in the future of national economy as it includes investment expenditure of (37) billion Kuwaiti dinars during the next four years. Al-Garah stressed that the conference will concentrate mainly on the development plan and the obstacles that it may face during performance particularly financing operations which is one of the factors that helps make development projects a success. "Banks are still following its cautious policy in that regard" Al-Garah added.
Work Session during the First Day.
The conference's first day schedule includes 3 work sessions. The first is a symposium on the importance of development projects and finance; it shall be presided over by Adel Al-Wakyan, Secretary-general of the Supreme Council for planning and with participation of Minister of Public Works Dr. Fadl Safr, Head of the Institute of Development Projects carried out according to B.O.T system Adel Al-Rome and former Minister of Oil and Chairman of the National Industries Company for Building Materials Dr. Adel Subaih.
The second session, presided over by Chairman and Managing Director of Entertainment and Tourism United Company Adel Hassan Amor, shall be allocated to discussing a number of relevant working papers presented by the sponsors as well as other specialized entities. It shall be attended by Mr. Muhammed Al-Twaijri (Al-Twaijri and Partners Law Firm) and Ibrahim Al-Awady (Al-Madar Finance Company), the Combined Real Estate Group and Dr. Gamal Al-Duaij of Engineering Group.
The first day ends with a symposium to be held at 7 PM and attended by a number of social renowned economic figures. It shall discuss the economic situation and political obstacles facing B.O.T projects in Britain. During the symposium British expert Robert Pull shall deliver a speech to be commented on by former Minister of Commerce and Industry Ahmed Bakr, Chairman and Managing Director of SGC, former Minister of Planning Ali Al-Musa and Saieed Dashty, chairman of KGL.
The organizing committee of the conference could attract the British expert Robert Pull to participate in the closing session of the first day to explore the economic status of B.O.T projects and the challenges it faces in Britain.
Kuwait Petroleum Corporation presents three working papers.
KPC announced the working papers that both KPC and its subsidiaries shall present during the 9th conference on the Role of the Private Sector in Development and Infrastructure Projects performed as per B.O.T system and organized by Commercial Markets Complexes Company in collaboration with Gulf Company for Organization of Fairs during the period from 9 to 10 current may. The conference is held under auspices of Deputy Prime Minister for Economic Affairs and Minister of State for Development Affairs and Minister of State for Housing Affairs Sheikh Ahmed Al-Fahd under the banner (Kuwait 2030).
The Managing Director for Government, Parliament, Public and Media Relations Sheikh Talal Al-Khalid said that KOC shall participate with three working papers during the second day of the conference (Monday 10th May), the first of which shall be submitted by KOC Managing Director for Planning with Chairman and Managing Director of Oil Development Company Hashem Al-Refai, it deals with the general strategic approaches of KOC and related crucial projects.
Adding that the second paper shall be presented by Chairman and Managing Director of KOC Samy Al-Rasheed and shall discuss the role of exploration and production sector in the development of the private sector
As for the third paper, it shall be delivered by vice Chairman and Deputy Managing Director for Al-Ahmadi Refinery Asad Al-Said and talks about the partnership program with contractors and local manufacturers.