EUROPEAN PARTNERS
New paths are opening up between Eastern Europe and the region, bringing with them diverse opportunities for both sides.
After opening the Croatian embassy and the Hungarian visa center, respectively, what improvements do you expect to see in your bilateral relations?
KOLINDA GRABAR-KITAROVI It is important to have an embassy in this part of the world. During the two days that I spent visiting Kuwait, I saw what possibilities exist for the development of business relations between Croatia and Kuwait and the broader region. It is of pivotal importance to encourage concrete projects that we discussed in Kuwait, especially regarding tenders to which Croatian companies have applied. Our business delegation had the opportunity to meet their counterparts, and also spoke with the Chamber of Economy. For the last four years, we have been working on the establishment of this embassy, and we are pleased to have done so with a fully fledged presence including staff on consular, economic, diplomatic, and political departments.
ANDREA GULYÁS Kuwaiti people are open to exploring new destinations, and Hungary certainly is a very attractive alternative to many popular European countries. A lot of elderly Kuwaitis can recall personal stories about family trips to Hungary by car in the 1970s and the 1980s and how much they enjoyed the time they spent in Hungary. Although the political and security situation has dramatically changed in the Middle East and it is no longer feasible and safe to travel from Kuwait to Hungary by car, we are determined to do our best to encourage the people of Kuwait to visit Hungary. The opening of the visa center is an important step in this regard. We aim to facilitate visa application procedures to meet the expectations of our Kuwaiti applicants, while we also strive to better accommodate their needs in terms of flexible opening hours and availability and swiftness of service. Since its opening, we perceived a marked increase of interest and attention toward Hungary, which is also reflected in the number of visa applications submitted through our new visa application center. There is a noticeable increase in the number of applications, especially for tourism purposes. Also, based on data from the main carriers the sale of airplane tickets to Budapest has increased to 7.3% this year. We believe that the number of Kuwaiti tourists who visit Hungary this year will be around 3-4,000.
What are the pillars of trade and industry that connect business between your two countries and Kuwait?
KGK Croatia is a relatively small Mediterranean country, but with a powerful culture. Especially as a tourist destination, we have much to offer given the fact we have 1,200 islands, a 1,200km coastline, and already around 17 million tourists visit us annually. The Adriatic Sea is around 24 degrees in summer, which is wonderful for swimming. Croatia has been awarded for its clean seas, on which we pride ourselves over neighboring Italy. Reversely, we have a strong shipbuilding tradition and along our coastline we have numerous shipyards and wharfs. Croatian companies have already participated in several Kuwaiti tenders for the construction of yachts and ships, and we hope to increase our economic relations here. Kuwait has shown great interest, and we do believe our quality surpasses offerings from China and South Korea. Other areas include the food and beverage industry, as there is potential for Croatian exports of fresh consumer goods. Croatia has a long history of producing military equipment and we have exported to many regions of the world. There is a company that has already delivered to the National Guard of Kuwait, for which it also has the maintenance contract.
AG Hungary had a trade mission in Kuwait already in 1966 and since then Kuwait has remained an important partner for our exports. The volume of bilateral trade has been fluctuating during the last few years between USD40 and 55 million with a significant surplus of Hungarian exports. The most important fields of our export are still related to the Hungarian engineering knowledge, which was well known in Kuwait even back in the 1970s. Approximately 80% of it is made up of power generating and electrical and industrial machinery equipment and road vehicles. Here I would highlight again the role of the ICT and the pharmaceutical industry, which could serve as potential fields of cooperation between our countries. There is also potential in the field of agriculture, as agricultural technologies related to animal breeding or the dairy industry may be of particular interest for Kuwait.
EUROPEAN PARTNERS
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.
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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.
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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.
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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.
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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.
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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.
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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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