Kuwait- Service sector still in financial safety 

(MENAFN - Kuwait News Agency (KUNA)) Kuwaiti Minister of Commerce and Industry Anas Al-Saleh said here Sunday the service sector, which is a major component of Kuwait's economic system, still enjoys financial safety in spite of political, economic and financial challenges.

While opening the Forum of Service Companies, the minister said service firms have proved high efficiency since the outbreak of the global financial crisis.

Service companies enjoy high financial vitality and efficiency despite all surrounding financial complexities thanks to their monetary flows, he noted.

However, he said the future trend is to provide all encouraging facilities to this sector, given that it is a core pillar of modern economies due to its continuing monetary flow.

The development of the Kuwaiti national economy should proceed from the service sector, which can ensure the building of a new Kuwait, the minister added.

He stressed the significance of the Forum in highlighting the "impressive" role of the service sector.

This gathering is of special importance since it brings under its umbrella a large number of various service firms and banks that boast sufficient potential to ensure successful development projects, the minister pointed out.

The service sector largely contributes to consolidating and propping up the infrastructure of the Kuwaiti national economy, he said, adding that a distinguished service sector is conducive to a strong, stable and firm economy.