Kuwait city: The Kuwaiti Cabinet on Tuesday emphasized its determination to fulfill the vision of His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, focusing on attracting foreign investments and enhancing the business environment to transform Kuwait into a global and regional financial hub. The meeting, chaired by His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah at Bayan Palace, highlighted the importance of collaboration between the Kuwait Direct Investment Promotion Authority and the GE Vernova Technology Center, known for its integrated control systems and significant operational capabilities.
According to Kuwait News Agency, the Cabinet expressed gratitude to UAE President Sheikh Mohammad bin Zayed Al Nahyan for initiating the Decades of Brotherhood initiative, set to commence on January 29 for a week. The Cabinet also extended appreciation to UAE Vice President, Prime Minister and Dubai's Ruler Sheikh Mohammad bin Rashid Al Maktoum and Sheikh Mohammad bin Zayed for their supportive stances, reflecting the deep-seated fraternal and historical ties between the two nations and the collective Gulf structural cohesion.
The meeting underscored the ongoing financial reforms aimed at enhancing Kuwait's sovereign credit ratings on global scales. The Cabinet reiterated its commitment to providing the necessary requirements for the present and future phases to achieve financial sustainability and maintain Kuwait's credit standing.
During the session, Minister of Electricity, Water and Renewable Energy, and Acting Minister of Finance and Minister of State for Economic Affairs and Investment Sabeeh Al-Mukhaizeem provided insights into Standard and Poor's announcement last Friday. The agency upgraded Kuwait's ranking from A+ to AA-, maintaining a stable future outlook, due to the nation's advancement in financial and economic reforms, particularly in diversifying the economy and modernizing infrastructure.
The Cabinet was also briefed on His Highness the Prime Minister's visit to the GE Vernova Center, marking the 10th anniversary of the center's establishment in Kuwait. In addition, Minister of Education Sayed Jalal Abdulmohsen informed the Cabinet about Kuwait's election to the United Nations Educational, Scientific and Cultural Organization (UNESCO) membership for a four-year term, reflecting Kuwait's esteemed cultural status and heritage.
Additionally, the Cabinet was informed about the official delegation accompanying His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah to Bahrain for the 46th ordinary session of the GCC Supreme Council on December 3. The Public Authority for Civil Aviation presented a report on the positive results from the International Civil Aviation Organization regarding Kuwait's aviation safety, with Kuwait achieving an 86 percent compliance rate, showcasing the country's adherence to international safety standards.
On the occasion of Oman's 55th National Day, the Cabinet extended heartfelt congratulations to Sultan Haitham bin Tareq, lauding the bilateral fraternal and historical relations between Kuwait and Oman. The ministers also received a presentation from Minister of Health Dr. Ahmad Al-Awadhi on overseas treatment and measures taken by the ministry over the past two years to address related challenges.
Finally, the Cabinet praised the efforts of Minister of Defense Sheikh Abdullah Ali Abdullah Al-Sabah, and Chairman of PACA Sheikh Humoud Mubarak Al-Humoud Al-Sabah, along with all staff members, for achieving the ICAO's recognition.