(MENAFN - Arab Times) Move to improve revenues, attract investments
KUWAIT CITY, June 10: In its future development plans, the government is planning to develop and establish a range of major leisure and tourism projects of a global nature in order to improve the revenues of the State and attract investments to the local market, reports Annahar daily.
The future strategy for development planning is also keen on opening up the field of Cognitive Investment as well as projects related to communications, technology and infrastructure.
The high-level government sources told the daily the work is underway on the establishment of the leisure services center in the next few years to attract investments and implement the free tourism development, indicating that the next phase of the projects will focus on developing the entertainment sector and marketing tourism.
The sources pointed out the government plans to set up a major goal to confront government waste in spending without affecting the spending of the investment which rose up to about 40 percent of government spending. According to the indicators the development plan consisting of nine vital projects which will end in December and will cost about 53 billion dollars.
These projects are one of the pillars of the development of the state's financial resources and a new starting point for continuous development plans. The most important of these are the supporting services such as building of the Kuwait International Airport and Sheikh Jaber Al-Ahmad Bridge Air Navigation Systems and the first stage of the Shaqaya complex and the last stage of environmental fuel.