PRICELESS ADVICE

Kuwait 2019 | ECONOMY | INTERVIEW

The National Advisory Services Company (NASCO) is guiding Kuwait's government toward Vision 2035 in order to make services more efficient and attract private investment.

Tareq Khaleel Ibrahim
BIOGRAPHY
Tareq Khaleel Ibrahim brings more than two decades of solid experience in both conventional and sharia-compliant banking, investment, and finance; across a number of complementary disciplines including merchant banking, investment management, advisory, structured and project finance, product development, private placement and CRM, and high-level strategy formulation, oversight execution, and management. Ibrahim, throughout his extensive professional career, has continually emphasized and committed to the all-important notion and practice of continuous and effective mentoring, team-building, and team-play; for maximum and enduring output and results.

What makes NASCO a unique and standout consulting and advisory firm in Kuwait?

NASCO was established as a streamlined firm in 2014 to provide value proposition and consulting and advisory solutions and practices under the umbrella of NTEC Group. This way, NTEC could better identify requirements and needs within Kuwait's public and private sectors. NASCO is uniquely positioned to leverage its capabilities and network within the public sector to identify opportunities and build relationships with public and quasi-government institutions, helping them better understand and address their challenges and requirements. We, at NASCO, have the capacity to efficiently and effectively implement and execute a consulting and/or advisory solution for a public sector/quasi-government institution that is facing serious difficulties in terms of engaging and working with consultants and advisors to achieve a good ROI particularly in terms of execution and implementation of a given solution. We realized that there has always been a gap between what is required by the client, and efficiently and effectively assisting them while executing a service or solution. Most of NASCO's Staff come from the private sector; we, therefore, brought with us a sharp value driven private sector mindset and enthusiasm. In addition, having deep and detailed knowledge of the environment we work in gives us a distinct advantage over our competitors. We also engage through G2G mechanisms and our strong network to create a competitive and impactful edge in the market. We collaborate with a host of third-party service providers and associates on delivering engagements, which enables for the conducive introduction of specialist consulting, advisory, and implementation firms and capabilities to Kuwait.

What services and systems are you implementing to increase process efficiency and effectiveness in public institutions?

We are uniquely positioned, as a “State-owned Enterprise" under the purview of NTEC and the KIA, to understand the public sector and especially its main points and challenges. Our approach is also unique in that we offer an end-to-end value proposition and solution. We tend to hand hold the client from the initial stages of undertaking a current state assessment; where we understand their needs, through to the implementation and execution phase, which could entail that of a strategy, implementation business plan, or a range of other specific solutions.

In light of Vision 2035; what opportunities exist for NASCO?

There are many opportunities, and we are part and a contributor to this initiative. We have an ongoing engagement and mandate with Kuwait's Supreme Council For Planning & Development. We have developed the Supreme Council's design architecture for an advanced and full-fledged Performance Management System and Dashboard. We delivered the architecture for The Supreme Council's new performance management system to be rolled out in the next phase as we move into implementation.

What are your expectations and goals for 2019?

Being part of the public sector, we are mindful of prevailing challenges. We are optimistic in terms of key initiatives and programs like Vision 2035. Having said that however, we are also faced with a host of challenges. We are, therefore, cautiously optimistic, yet fully committed going forward; being part and parcel of the all-important public sector. We will continue to assist and work closely with the public sector, thus being able to make a real and marked contribution to Kuwait's economic reform programs and the 2035 Vision. We intend to continue to be among those players and contributors that benefit Kuwait and its people impactfully and sustainably.