Once again, we return to the topic of industrial and agricultural plots due to their importance to the national economy. Beneficiaries of industrial, service, or agricultural plots have constructed buildings and invested huge sums of money in them.
Many have taken loans from banks and maintained long-term relationships with them. Therefore, any issues affecting these plots directly impact all contracts related to the projects established on them. This is why banks consider these established buildings as tangible assets, which can be mortgaged and liquidated. When a project is halted due to license suspension, it often leads to involuntary insolvency for the investor.
As I mentioned yesterday, this situation leads to the demise of the project and causes major harm not only to the beneficiary but also to the workers, many of whom have financial obligations such as rent, car installments, and other debts.
Therefore, if a plot investor faces difficulties for any reason, they often turn to banks or bring in partners to revive the project or introduce supporting businesses to recover losses and develop their business. This approach is standard practice worldwide, as the fundamental principle is to protect the national product and work towards enhancing industrial and food self-sufficiency.
This does not exist in Kuwait, neither for industrial plots, which are subjected to strict regulations as if they are always suspected of undermining social and economic security, nor in the form of pressure on industrialists and investors by employees whose only concern seems to be “eating dates, even if it means cutting down the palm tree”.
This undoubtedly affects productivity and obstructs progress at a time when other Gulf countries are actively working to facilitate business and provide incentives for investment. These countries have established free zones that host multiple businesses to serve the overall development of their nation.
These countries have permitted farms to create recreational areas, as seen in Abu Dhabi, and to build rest houses, provided they obtain the necessary approvals to ensure that the structures comply with building and urban planning regulations and do not conflict with agricultural land use plans.
In contrast, Kuwait issued a decision ten years ago to establish ten industrial zones, but this has yet to be implemented. Instead, a decision was issued to suspend plot licensing and prohibit the transfer of licenses, representing a setback from the development expected by businessmen and investors aiming to stimulate the local industrial and agricultural sectors. Rather than advancing, we have regressed, which undoubtedly harms the economy and accelerates its decline.
If the government seeks private sector participation, it should clearly announce this intention. If the decision aims to improve regulation, the government must communicate it well in advance of implementation, allowing for thorough discussion among all stakeholders, including banks, the industrial and agricultural sectors, and take public opinion into consideration. It is unfair to issue a decision and enforce it immediately without addressing the negative consequences. People yearn for stability and to witness the restoration of the state’s prestige, as promised by the new era.
The government must act in line with the directives of the highest political leadership to restore Kuwait’s leadership. The Council of Ministers and official institutions must not work against this vision. Your Excellency, the Prime Minister, many affected by this poorly planned measure are already facing stagnation and depression. Please do not add to their anxiety. Let the people enjoy the promise of this new era – a return to leadership and prosperity.