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1st mid-term plan focused on turning Kuwait into financial, commercial hub
January 19, 2015, 9:09 am

The first mid-term development plan, 2010-11/2013-14, comprised a vision of Kuwait in 2035, with the chief goal of turning the country into a financial and commercial hub.
The plan, viewed as "very ambitious" by several officials, was based on allowing the private sector to lead economic activities, enhancing production efficiency, achieving balanced human development, and developing a favorable business-friendly environment.

The first of the plan's six goals was to increase GDP and improve the standard of living through boosting economic growth of non-petroleum sectors to raise per capita income, and maintaining stability of prices.

The second sought to assist the private sector through incentive mechanisms to lead development, functioning as a locomotive of economic growth. Supporting human development, as basis for social and economic development in Kuwait, was the third strategic goal of the plan.

The fourth was to develop population policies. This included organizing population growth, Kuwaiti and non-Kuwaiti, to create a unified society, as well as improving the social structure for the good of the citizens.

It also sought to achieve a quantum shift in the structure of the labor market, through modern professional methods and skills, to develop workforce in the private and public sectors.

The fifth goal of the first national development plan focused on effective administration. It reflected government's keenness on reinforcing and consolidating mechanisms of effective management of development, and the relevant concepts of transparency, accountability and integrity in the economy and the society.
Promoting Islamic and Arab identities was also a major aim of the plan, together with asserting the cohesion of the Kuwaiti society, with its Islamic identity and Arab orientation.

The plan comprised 44 requirements for legislative reforms to back development, later compressed to 38, the government had to submit to the National Assembly during the first two years of the plan.

According to the General Secretariat of the Supreme Council for Planning and Development, follow up of the main plan and the sub-annual plans revealed improvement of the capabilities and experience of governmental agencies in terms of the projects they were tasked with. They also developed abilities to handle obstacles and find alternative solutions.

In addition, it spotted positive development of implementing strategic projects, that are crucial for economic and social development.

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