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100% KUWAITIAZATION ONLY POSSIBLE FROM BOTTOM LEVEL
During a Q & A session presented in the "Kuwait Euro-Money Kuwait Conference" held on 27th Marchat "Court Yard Marriott Hotel", Dr. Ghalib Al-Mashoor, The Investment Manager of UNITED ARAB SHIPPING COMPANY, ( a GCC Govt. owned $1.7 Billion Paid capital Shipping Co. ) Kuwait suggested thatKuwaiti Law makers must think how to cap the huge capital outflow from the country paid for expatriates whiletalking too much about Kuwaitiazation. Reforms in the Educational system especially Industry based teachings should be implemented in Schools and Universities as soon as possible, so that the younger generation could be benefitedfrom those studies while taking shouldering responsibility towards the betterment of the Kuwiati Industries whether its all self financed of state projected industries.
Dr. Al-Mashoor, holding 2 Masters degrees and Doctorate in Intl Finance & Business Administration, with more than 25 years Banking and Investment experience said he has been livingin Kuwait for the past 30 years, and found out that Kuwait will face difficult years in the small-scale industries, as they have to depend only on expatriates for the lower level jobs such as carpenters and other construction jobs etc... if the proper training and educations are not given to that extend to the local citizens, then, it would be very difficult to cap the capital outflow as expatriates from 165 countries out numbers with 80% while Kuwaiti population shrank to just 20% with Billions of Dollars pumping outside of the country.
Dr. Al-Mashoor added that concentrating only "WHITE COLLAR " jobs will not help Kuwait to achieve the so called 100% Kuwaitiazation process. Also, insisted that Kuwait should concentrate more on non-oil economy for the future plan as some of the drastic efforts to be taken now for the future ambitions of such project, while ensuring that that there will be no negative scenario of income in the case of drain in the Oil sector.
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