BUSINESS COUNCILS
Councils not only provide a business-to-business environment, but are increasingly bringing in skills and programs to help the Kuwaiti economy meets its targets.
To what extent can you help companies when entering the Kuwaiti market?
Hannelore Graf The most we can do is connect them with the right people and help them with information, i.e. where to go and what to do, but nothing beyond that. We lay a foundation of connections, contacts, networks, experiences, and information, providing a platform. We can also give market information on whether it would be a good market for a company or whether the market might be saturated, and so on. We also have a lot of cultural events, which help create a community, create new contacts, get people acquainted with local culture and people, and mix business and pleasure. We also cooperate and work with SMEs in Kuwait. We had a women's SME conference with people from eight countries from Latin America, Europe, and the Middle East. There were also two Kuwaiti female entrepreneurs present, talking about the difficulties they met and their experiences in overcoming those challenges. Those SME conferences will continue, as will other conferences next year. The aim is to motivate Kuwaitis to opt away from public sector jobs and choose the private sector, considering 90% of Kuwaitis are employed in the public sector, only 10% of Germans are employed in the public service, we have a lot of experience in how to meet that challenge for Kuwait.
Juliet I. Dinkha The ABCK is a not-for-profit organization and was developed as a support for Americans doing business here, to help them network, and provide them with an opportunity to meet with the embassy. However, the ABCK's primary mission is to collaborate with American and Kuwaiti businesses. Recently, one of the biggest challenges has been the various legal reforms. One change is that it has become more challenging for American companies to come because there are a lot of legalities regarding sponsorship and licensing. By the time employees get their sponsor and finish their paperwork, they additionally require work visas. Americans used to arrive on a visa and, every six months, they could go to Bahrain and renew it until they got a new visa. Now, Americans can come on a visa, but have to go back to the US for residency. If they go all the way back to the US, employees stay away from their job for 2-3 weeks. Moreover, non-Kuwaitis could have a driver's license for 10 years, but now you can only have it if you have a residency permit. In my opinion, the Kuwaiti government needs to loosen restrictions for certain countries in order to attract more foreign companies.
What have been some of your key developments over the past year?
HG We have introduced the new GBCK website and directory, and we also have a larger board that can take care of many more subjects than before. Our business contacts have been developing between the Swiss, German, Austrian, and Kuwaiti community, both socially and in terms of business. We have a new German ambassador, and he has been very active and enthusiastic about working with the GBCK. We work closely with the US, Australian, UK, Indian, Canadian, French, and other business councils. We hold joint events and cooperate closely in many areas, which also benefits the Kuwaiti business community. We also have very close relations with other chambers of commerce in the GCC. In Kuwait we also have the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), which is here to help cooperate with the Kuwaiti Public Authority for Applied Education, mainly in the area of vocational training, to be able to ensure there is sufficient trained personnel to deal with foreign companies, German or other. The GIZ is located in Kuwait but it is for the whole region.
JD We have just revamped our website and hired a social media coordinator and an event planner on a part-time basis. I was appointed as the new Chairwoman in June 2016, but I have already hired two employees, changed the office, and come up with a sophisticated strategy to invite more corporations and change the benefits. In this regard, one of the ABCK's biggest benefits is that we offer a network through which our members can get more business. For instance, we already organize events in association with the US Embassy and are further looking to collaborate with other organizations such as the American Women's League, Canadian, and British organizations. It is an American organization, and we do not want to lose sight of our members, who are mainly from the oil and gas sector, but also hotels and IT companies. We do not have any hospitals yet, and I am hoping that we will get some clinics interested in our corporate membership. Essentially, it is all about providing the platform and seeing how we can expand from there.
BUSINESS COUNCILS
TABLE OF CONTENTS
Guest Speaker
Dato’ Sri Haji Mohammad Najib bin Tun Haji Abdul Razak, Prime Minister , Malaysia
TBY talks to Dato' Sri Haji Mohammad Najib bin Tun Haji Abdul Razak, Prime Minister of Malaysia, on the growing contribution that Islamic countries are making to the global economy and how Islamic financing can offer new opportunities to industry and academia.
read articleInterview
HE Khaled Nasser Abdullah Al-Roudan, Minister, Commerce and Industry (MoCI)
TBY talks to HE Khaled Nasser Abdullah Al-Roudan, Minister of Commerce and Industry (MoCI), on tools and strategies for diversifying the economy, the role of international players in supporting a wider range of sectors, and the rapidly developing food industry.
read articleInterview
HE Yousef Al-Ebraheem, Advisor , Al-Diwan Al-Amiri
TBY talks to HE Yousef Al-Ebraheem, Economic Advisor to the Al-Diwan Al-Amiri, on the need for a rejuvenation of Kuwait's infrastructure to support an economy that has come a long way and the role education will play in delivering the expertise required by the society.
read articleInterview
Dr. Khaled A. Mahdi, Secretary-General , Supreme Council for Planning & Development (GSSCPD)
TBY talks to Dr. Khaled A. Mahdi, Secretary General of the Supreme Council for Planning & Development (GSSCPD), on the breakdown of Kuwait's long-term economic plan, the KPIs that will benchmark its success, and what Vision 2035 means for the nature of the economy.
read articleInterview
Sheikh Dr. Meshaal Jaber Al Ahmed Al Sabah, Director General, Kuwait Direct Investment Promotion Authority (KDIPA)
TBY talks to Sheikh Dr. Meshaal Jaber Al Ahmed Al Sabah, Director General of the Kuwait Direct Investment Promotion Authority (KDIPA), on launching an investment promotion conference, attracting the right partners for PPP, and expectations for the year ahead.
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HE Dr. Mohammad M. Al-Zuhair, Executive Chairman, Kuwait National Fund for Small and Medium Enterprise Development
TBY talks to HE Dr. Mohammad M. Al-Zuhair, Executive Chairman of the Kuwait National Fund for Small and Medium Enterprise Development, on empowering young Kuwaitis, IT and entrepreneurialism, and the growth of fintech.
read articleFocus: Still all in the family?
Merchant families in Kuwait
Family-owned businesses play a major role in the Kuwaiti economy. However, with many approaching the third generation of management, they are starting to come across unique problems that may pose issues for the greater economy.
read articleInterview
HE Sheikh Abdullah Ahmad Al-Humoud Al-Sabah, Director, Environmental Public Authority (EPA)
TBY talks to HE Sheikh Abdullah Ahmad Al-Humoud Al-Sabah, Director of Environmental Public Authority (EPA), on how oil companies can contribute to Kuwait's vision on sustainability and the various projects that are coming to fruition.
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Dr. Samira S. Omar Asem, Director General, Kuwait Institute for Scientific Research (KISR)
TBY talks to Dr. Samira S. Omar Asem, Director General of the Kuwait Institute for Scientific Research (KISR), on commercializing the green innovations coming from R&D initiatives, the role of collaboration across multiple sectors, and projects that we should expect to see more of in the future.
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Khaled Abdulrazzaq Al Khaled, Vice-Chairman and CEO, Boursa Kuwait Company
TBY talks to Khaled Abdulrazzaq Al Khaled, Vice-Chairman and CEO of Boursa Kuwait Company, on the takeover of the Kuwait Stock Exchange and the role the bourse plays in both the privatization of government entities and as a source of capital for family businesses.
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HE Essam Abdul Mohsen Al-Marzouq, Minister, Oil & Minister of Electricity and Water
TBY talks to HE Essam Abdul Mohsen Al-Marzouq, Minister of Oil & Minister of Electricity and Water, on cooperation with other ministries, the private sector's role in energy, and upcoming regulations.
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Ghalib Shlash Safouq, Assistant Undersecretary for the Construction Projects Sector, Ministry of Public Works
TBY talks to Ghalib Shlash Safouq, Assistant Undersecretary for the Construction Projects Sector at the Ministry of Public Works, on Kuwaiti companies, the country's healthcare facilities, and the role of international companies.
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Khaled K. Al Mashaan, Vice-Chairman & CEO, ALARGAN International Real Estate Company
TBY talks to Khaled K. Al Mashaan, Vice-Chairman & CEO of ALARGAN International Real Estate Company, on drivers of growth, operating throughout the region, and real estate prices in Kuwait.
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Tawfiq Ahmed Bin Sultan, Chairman, Middle East Telecommunications Company (METCO)
TBY talks to Tawfiq Ahmed Bin Sultan, Chairman of the Middle East Telecommunications Company (METCO), on e-government potential, the future of the economy, and the state of technology uptake in Kuwait.
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Sheikh Yousef Abdullah Sabah Al-Nasser Al-Sabah, Director General, Kuwait Ports Authority (KPA)
TBY talks to Sheikh Yousef Abdullah Sabah Al-Nasser Al-Sabah, Director General of Kuwait Ports Authority (KPA), on his operational plans for the near future and turning Kuwait into a regional logistics hub.
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HE Khaled Nasser Abdullah Al-Roudan, Acting Minister, State for Youth Affairs
TBY talks to HE Khaled Nasser Abdullah Al-Roudan, Acting Minister of State for Youth Affairs, on e-platforms and blended learning programs, developing ICT skills, and preparing young people for tomorrow.
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Eng. Ali Hussein Al Youha, Secretary-General, National Council for Culture, Arts and Letters
TBY talks to Eng. Ali Hussein Al Youha, Secretary-General of the National Council for Culture, Arts and Letters, on the activities of the Council and works to preserve and enhance Kuwait's cultural heritage.
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