OPPORTUNITY TO INTRODUCE

Kuwait 2017 | INDUSTRY | COLUMN

TBY talks to Hasan Al Hasawi, President, Al Hasawi Group on the sector.

Hasan Al Hasawi

Is Al Hasawi expanding its operations to become a more regional player across the GCC?

Our strategy for the GCC markets has been to appoint distributors and dealers. We have distributors and dealers in Saudi Arabia, Qatar, Oman, Bahrain, and the UAE and in some countries like Jordan in the Middle East. Our current focus is to expand into the North Africa region. Our products are specifically suitable for the extreme conditions of the region.

How would you evaluate the state of family companies in Kuwait at the moment?

Kuwaitis are born entrepreneurs. Kuwaitis were among the first to deal in pearls. In Kuwait, the tradition of family business is still followed and ownership of the businesses are within the family. We have about 15 top family businesses in Kuwait and most of them are doing well. Of course, there is an impact of low oil prices but we consider it as a blessing in disguise that it gives us an opportunity to tighten our belts, diversify, and strengthen non-oil revenues. Also, most of the family businesses have taken this opportunity to introduce standard operating procedures and are revisiting processes in their businesses to ensure profitable operations.