| Kuwait’s private sector seeking more involvement in BOT projects |
KUWAIT, Feb 3, (KUNA): More fast-track steps ought to be taken to involve the Kuwaiti private sector in construction projects executed under the build operate and transfer (B.O.T.) system. The urge was voiced by Chairman of Kuwait’s Union of Real Estate Operators Tawfeeq Al-Jarrah during a news conference ahead of the 8th Conference of the Private Sector’s Role in Development Projects, due to be held here on Sunday. Al-Jarrah cautioned that if such a situation continued, then the financial crisis could not come to a close at an early date given the fact that credit lines by local banks were stopped.
The government should not only focus on the protection of public funds but should attach more attention to the economic aspect as well, he requested. Once put in place, the recently passed law on B.O.T. projects, will surely put an end to the current unprovoked broadside against such projects, which have been suspended for three years, thus negatively affecting local real estate companies, he added. The delay in the enforcement of the law has impeded the implementation of many real estate projects in the country, he added. The two-day conference will kick off on Sunday under the auspices of Minister of Finance Mustafa Al-Shimali.
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| Posted on:
04/02/2009 |
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