Kuwait- Govt supports private sector in bid to diversify income sources

(MENAFN- Arab Times) KUWAIT CITY Jan 19 (KUNA): A Ministry of Commerce and Industry senior official on Monday emphasized eagerness to support the private sector as part of the government's strategy to vary sources of income. Part of this the ministry backs specialized fairs that enhance the role of Kuwaiti private sector and small and medium size enterprises (SMEs) Assistant Undersecretary for International Organizations and Foreign Trade Sheikh Nemer Al-Sabah said in a press statement after opening the 2015 HORECA Kuwait food exhibition.

He added that the ministry embraces events likely to support state plans and strategies seeking to turn Kuwait into a financial and commercial hub. Specialized fairs and exhibitions such as HORECA consolidate this vision backing tourist development plans boosting the role of the private sector as a partner in development and encourage youth to get more involved in business through small projects which could constitute nucleus for bigger ones that serve the national economy in the future he noted.

Sheikh Nemer highlighted the significant role played by HORECA for promoting the vital food catering and hotel supplies sector which is attractive to youth willing to embark on small enterprises. With this fourth version HORECAhas come to function form an ideal platform that brings together food and catering experts both local and foreigners General Manager of HORECA organizer Leaders Group Nabila Al-Anjari said.

She stressed the success realized by the previous three exhibitions. Al-Anjari noted that the organizer was keen that HOFRECA 2015 should contribute to efforts promoting the sector in line with the country's development plans aiming to turn Kuwait to a an attractive tourist destination. It also seeks to direct the public and the private sector to new fields of business to vary sources of income which is of great signficance she said citing the sharp fall in oil prices.