The first phase of a development project to be implemented in the Kuwaiti islands of Boubyan, Failaka, Warba, Miskan and Awha was presented to the Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, with hopes that the parliament will also collaborate with the government to facilitate its execution.
Sheikh Sabah wants to transform the country into a cultural and economic center as part of the diversification efforts of the economy which is heavily dependent on hydrocarbons. The project on the five islands is expected to attract top global investors. Some of the islands will be used as free trade zones to boost activities between the East and the West which will increase the country’s regional and international competitiveness.
Prime Minister Sheikh Jaber told the gathering that the government needs the parliament because legislations and laws will be needed to accompany the project in order to easily surpass obstacles during its implementation and avoid delay. He explained that the project needs certain legislations and exceptional resolutions, in addition to measures to be taken by the government.
Although the project was meant to make use of the islands and promote development, it is also expected to boost the country’s security as investors would try to protect their investments at a time when the Middle East is marred with suicide attacks and violence.
Meanwhile, prices of gasoline and kerosene in Kuwait are expected to increase in March after a senior official hinted that government “subsidies will be taken out gradually” in early 2016.