The BF9 (Business Forums -9) organized and held their annual joint event for the BF9 Summit and Exhibition. The event was previously BF6, but with the birth of the Lebanese, Portuguese, and Spanish business councils, the platform has now evolved to being BF9. The 9 Business Councils include The American Business Council – AmCham Kuwait, the Australian Business Group, the British Business Forum, the Canadians in Kuwait, the French Business Council, the German Business Council, the Lebanese Business Council, the Portuguese Business Council, and the Spanish Business Council.

Industry Day Summit started with a presentation done by Dr. Khaled Mahdi, General Secretariat of the Supreme Council of Planning and Development who spoke about Kuwait’s history as a trading hub, its evolution as a country, and modern Kuwait. Dr. Mahdi also highlighted that Kuwait must consider sustainable practices of the past, and consider prosperity sources from the present, to have a sustainable prosperous future. Dr. Mahdi also spoke about Kuwait’s 2035 Vision and the national transformation strategy which includes 7-pillars: effective public administration, creative human capital, sustainable diversified economy, strong progressive infrastructure, high-quality healthcare, sustainable living environment, and exceptional international positioning, which will allow Kuwait to continue being a prosperous country.

Kuwait’s National Development Plan (KNDP) involves improving Kuwait’s global competitive index, transforming the government’s enabling role, accelerating private sector growth, increasing the private sector’s participation in GDP, and achieving sustainable development goals. Dr. Mahdi finalized his presentation by speaking about Kuwait’s roadmap as he spoke about Kuwait’s previous successes which included some changes and modifications to policies that allowed for the ease of doing business in the country, as well as some of the future upcoming major projects which will be handled by entities such as the Public Authority for Housing and Welfare, the Kuwait Authority for Partnership Projects (KAPP), the Kuwait Direct Investment Promotion Authority (KDIPA), and KIPIC.

Dr. Mahdi’s presentation was followed by the Ambassadors’ panel which included: H.E. Sheikh Abdullah Sabah Homoud Al Sabah (Assistant Director General for Investment Operations) of KDIPA, H.E. Melissa Kelly (Ambassador) of the Embassy of Australia, H.E. Marian Wrba (Ambassador) of the Embassy of Austria, H.E. Aliya Mawani (Ambassador) of the Embassy of Canada, H.E. Claire Le Flecher (Ambassador) of the Embassy of France, H.E. Hans-Christian Freiherr von Reibnitz (Ambassador) of the Embassy of Germany, Mr. Ahmad Arafa (Charge d’Affaires) of the Lebanese Embassy, H.E. Miguel Moro Aguilar (Ambassador) of the Spanish Embassy, Mr. Alexandre Guyot (Deputy Head of Mission) of the Swiss Embassy, H.E. Belinda Lewis (Ambassador) of the British Embassy, and Mr. James Holtsnider (Charge d’Affaires) of the United States Embassy. The discussion was moderated by Dr. Arezou Harraf (Founder of Learn & Evolve) in which they spoke about trade achievements between both countries (Kuwait and those present on the panel), renewable energy initiatives, major upcoming projects in Kuwait, and investment opportunities within Kuwait and the countries on the panel. Kuwait has several projects in the pipeline which are looking to bring in more foreign direct investment, including the Abdali Economic Zone, Al Na’Ayem Economic Zone, Al Wafra Economic Zone, and several other projects which will look to ultimately create economic diversification.

As the panel discussion heavily highlighted renewable energy, Eng. Waleed Roy, Head of the Science Technology Partnership and Agreements Office at the Kuwait Institute for Scientific Research (KISR) held a presentation on Kuwait’s current Energy Map highlighting that Kuwait’s primary energy supply is exclusively based on oil and gas (currently), as 90% of the country’s revenues come from oil and oil derivatives export. Eng. Roy spoke about the mitigation strategy which included enacting energy efficiency, management measures and deploying renewable energy techniques to meet at least 15% of the energy demand by 2030. Mitigating opportunity cost by freeing up more oil /products to the international markets through the deployment of renewable technologies is crucial, as new businesses will create new job opportunities. Eng. Roy also spoke about the role of energy in Kuwait’s research and development history, as he discussed the Shagaya Renewable Energy Park project in West Kuwait which is estimated to be finalized in phase 4 by 2030.  To finalize his presentation Eng. Roy addressed the benefits of renewable energy which include economic diversification, energy security, and reducing carbon emissions, as well as the ways forward which involve modifying current regulations in order to enable renewable energy and smart grid technologies to easily enter the market.

Eng. Waleed Roy went on to moderate the energy panel session on renewables which included Anwar Al Mutlaq, Country Chair of Shell, Anar Aliyev, VP of Kuwait & Qatar of BP, Herbert Klausner, Managing Director of Siemens Energy, Jorge Jesus Perez, Country Manager of Grupo TSK, and Adriana Reais Pinto Former Advisor to the Secretary of State for Environment and Energy of Portugal. The panelists spoke on strategies for implementing renewable energy sourcing/usage and job creation, economic sustainability, and diversification.

The second session of the summit was opened by Eng. Nayef Alhaddad Manager of Research and Strategic Planning at the KAPP. Eng. Alhaddad spoke about the public-private partnership (PPP) framework from Kuwait in detail, which included the legal framework, the organizational framework, and the procedural framework. Eng. Alhaddad spoke about the PPP project cycle of Kuwait: 1. Preparation of the project proposal, 2. Assignment of transaction advisor, 3. Preparation of the feasibility study, 4. Announcement of the project and EOI, 5. Preparation and release of the request for quote (RFQ) documents, 6. Evaluation of submitted SOQs, 7. Preparation and release of the request of proposal documents (RFP),8. Selection of preferred bidder and negotiations and lastly 9. The signing of the PPP agreement and financial closure. Eng. Alhaddad also spoke about the parties involved in each of the states of the PPP project cycle, and about the importance of private sector entities understanding the process in order for them to get a better idea of the time schedule for each of the steps in the cycle. Eng. Alhaddad highlighted some of the milestones that Kuwait has achieved through the PPP program, one of the latest one being the Umm Al-Hayman sewage plant, and he spoke about the upcoming pipeline for this year which includes: Al Zour North phases 2 and 3, Al Khiran phase 1, Al Shagaya Renewable Energy Complex phase 2 and 3, North Kabd and all related works, and the Fixed Communications Network Project. To finalize his presentation, Eng. Alhaddad informed the audience that KAPP also welcomes unsolicited proposals, especially within the health, education, renewable energy, and transportation sectors, as there are several advantages and incentives for private entities engaging in PPP in the State of Kuwait.

Eng. Alhaddad’s presentation was followed by the opening of the second highlighted topic of the day, done by Dr. Mussaad Al-Razouki, Chief Development Officer of Kuwait Life Sciences who presented on the current healthcare trends, challenges, and opportunities for Kuwait. Dr. Al-Razouki highlighted the lifestyle of the population has had an increase in demand in the healthcare sector, including the increase of male smokers in the country which is projected to be at 33% by 2025. Obesity and physical inactivity are also crucial variables on why demand has increased within the healthcare sector. Dr. Al-Razouki also spoke about the upcoming hospital projects planned within the GCC which account for $17.8 Billion USD, as well as $17 Billion USD that currently remains in the pipeline. To finalize the presentation, Dr. Al-Razouki spoke about some of the challenges in the healthcare sector in the GCC which include the risk of excess bed supply, as well as the preference for the population to get medical treatment abroad.

Dr. Al-Razouki then moderated the healthcare panel which included Dr. Faisal Al-Refaei, Chief Operating Officer of the Dasman Diabetes Institute, Dr. Vassillis Bakoyiannis General Manager of Roche Diagnostics Kuwait, Head of Levant and Iran at Roche, and Tamer Elsallab, Head of Gulf and Levant at Viatris. Panelists discussed the evolution of healthcare including hospital care and the pharmaceutical industry, and spoke on adapting digitization within healthcare, the trends of healthcare, and supporting the digitization strategy for Kuwait’s healthcare sector. Panelists also highlighted the importance of preventive care (including preventive medicine) and education, as these will enable a healthier population, which is in line with Kuwait’s 2035 vision. 

The Industry Day Summit and Exhibition happened simultaneously and were done with the support of Premium Event Sponsors: AETC – Abyar Group, Back Combined, bp, National Bank of Kuwait (NBK), The Bridge Company, Viatris, and Warba National Medical. Regular Event Sponsors:  IFA International Travel & Tourism, MTEX NS, Roche, RSM. Premium Exhibitor: Royale Hyatt Hospital, Regular Exhibitors: Crowne Plaza Al Thuraya City, Hyundai Air Conditioning, Lufthansa Airlines, and Siemens Energy.

-Ends-

About the Organizers:

ABCK – AmCham Kuwait:

Is a non-profit organization operating since 1985 and is composed of Fortune 500 corporations, small and medium-sized companies, and prominent business leaders and entrepreneurs, both American and Kuwaiti. ABCK-AmCham Kuwait has acted as an advocate for American interests in the state of Kuwait. For More Information, please visit our website at www.amchamkuwait.org or follow us on our social media channel @abck1985

The Australian Business Group:

(AusBG) is a non-profit organization established in November 2009

Our objectives are to promote and foster the development of trade, commerce, and investment between Australia and Kuwait. As well as promoting Australian companies’ interests in Kuwait. We do this by working closely with the Australian Embassy. To develop and maintain a good relationship with Kuwaiti companies and by furthering cultural understanding. To facilitate networking between both Australian and Kuwaiti businesses, and to connect both businesses in both countries to explore the potential opportunities on both sides.

Follow us on social media @AusBG

The British Business Forum:

The British Business Forum (BBF) in Kuwait has been in existence for nearly 50 years. It was set up and operated under the auspices of the British Embassy. It is a non-profit organization run by Business professionals for Business and its prime focus is to connect and promote British organizations and businesses interests in Kuwait using its membership network. Such is collated from both Individual and Corporate classes of membership and ranges in organisations across all sectors and nationalities. The BBF is supportive of the UK Department of International Trade (DTI) and the growth of UK/ Kuwait business relationships and opportunities through its membership and knowledge base of membership who are subject matter experts (SME’s) in many business sectors, including Oil & Gas, Education, Finance, Logistics, Infrastructure, Retail, and Health. The BBF is able to facilitate connections between people and organisations on personal and corporate levels through its network of members and supporters. Those wishing to find out more or are interested in joining us can contact the BBF administration officer, Julie Fautley via admin@bbfkw.com

Canadians in Kuwait:

CiK is a non-profit membership-based organization supported by Canadian and Non-Canadian volunteers. CiK shares Canadian culture with Kuwaitis’ utilizing the talent and efforts of its members. CiK members participate actively in various events like Community-based, and national events in Canada and Kuwait. CIK offers networking to help its members expand their network and feel a home away from home through fun activities and outings. It also contributes to bringing Canadian and Kuwaitis together and provides an opportunity to experience one another's cultures.

CiK offers weekly Friday breakfasts to its members and their friends at various restaurants in Kuwait. Those wishing to find out more or are interested in joining us can contact the CiK via cikeventsq8@gmail.com

The French Business Council:

The French Business Council Kuwait regularly offers companies that so wish the opportunity to benefit from the business expertise of its members in order to facilitate prospecting on the Kuwaiti market.

The French Business Council partners with Chambers of Commerce and Industry in France throughout the year to organize meetings with companies interested in the Kuwaiti market through practical information, and press reviews sent regularly to members, seminars and online meetings, and practical meetings around different business themes. Follow us on social media @FBCKuwait

The German Business Council:

The German Business Council is a non-profit organization and business platform, founded in 2005, in order to promote and cultivate relations between German-speaking individuals and companies with their counterparts from the host country and the region. Monthly business events and gatherings serve to increase the profile of the German-speaking economic presence and provide regular opportunities for networking and exchange of information. The GBCK is conducting its operations in close and trusting cooperation with the German, Austrian, and Swiss Embassies and institutions in Kuwait. Follow us on social media @gbckuwait

The Lebanese Business Council:

The Lebanese Business Council in Kuwait (LBCK) is a Non-Profit group established in 2020 under the Lebanese Embassy in Kuwait. It is composed of 150 members, including small and medium-sized companies. LBCK’s mission is to promote trade between Kuwaiti and Lebanese businesses and to strengthen the economic and cultural exchange between the two countries.

For more information, please visit our website at: www.Ibc.org or follow us on our social media channels:
Facebook: Lebanese Business Council in Kuwait
Instagram: Ibck_kuwait
Twitter: @Ibck Kuwait

The Portuguese Business Council:

The Portuguese Business Council Kuwait is an organization that aims to promote economic and commercial ties between Portugal and Kuwait. It provides a platform for Portuguese companies to network, exchange information, and develop business opportunities in Kuwait. The PBCK serves as a liaison between Portuguese businesses and the Kuwaiti government, helping to facilitate trade and investment between the two countries. www.pbckw.org

The Spanish Business Council:

The Spanish Business Council Kuwait (SBCK) is a non-profit organization and initiative officially constituted in 2021 and composed of Spanish Companies and representatives of Spanish Companies. The SBCK is establishing itself as a corporate platform to strengthen business and cultural ties between Spain and Kuwait, through the linking of Spanish companies with Kuwaiti public and private entities. For More Information, please visit our website at www.sbckuwait.org or follow us on our social media channel @sbckuwait.