"The regulatory environment in Kuwait is on the brink of a major transformation, and changes in this domain will unlock unprecedented possibilities for enhancing the quality and scope of healthcare. We stand on the cusp of a dramatic shift in Kuwait's healthcare sector”
“ Kuwait is burdened with high operational costs and red-tape, primarily because the public sector assumes all responsibilities. While the state possesses the material capabilities to build hospitals, it lacks effective management”
Paris, June 14, 2023: In his speech at the 'Vision Golfe 2023' conference, the main business event between Gulf countries and France, Mr. Faisal Ali Abdulwahhab Al Mutawa, Chairman and CEO of Ali Abdulwahab Al Mutawa Commercial Co, highlighted the importance of the trade relations between the private sectors of Kuwait and France.
The conference, held under the patronage of French President Mr. Emmanuel Macron and attended by French Minister of Economy Mr. Bruno Le Maire, served as a platform to strengthen economic ties between the two parties. The conference took place on June 13th and 14th at the Ministry of Economy and Finance in Paris.
Mr. Al Mutawa said that the relationship of AAW with the French private sector is strong and based on the values of partnership, cooperation, and common interest. He stated, “Our ties to the French private sector are well-founded and built on the values of partnership, cooperation, and mutual benefit. Together, we work in partnership to aid the growth of Kuwait's healthcare sector and bring cutting-edge pharmaceutical and consumer products to the country, directly contributing to people’s health and quality of life.”
Speaking to a diverse audience of business leaders from France and Gulf countries, Al Mutawa said that “Despite being a relatively small country with a population of about 4.4 million, Kuwait's healthcare budget today is approximately USD 8 billion - or 6% of Kuwait’s GDP of recent years, which is double that of high-income countries. As demographics and lifestyles change, the next 25 years require a new kind of public-private partnership. A partnership that increases efficiency and lowers public expenditure, and ends bureaucracy.”
Al Mutawa continued, "Today, the health care sector in Kuwait is burdened with high operational costs and red-tape primarily because the public sector assumes all responsibilities. While the state possesses the material capabilities to build hospitals, it lacks effective management. Yes, our government possesses the financial means to build large hospitals in Kuwait, but what they lack is proficient management. If we succeed today in attracting international health centers and benefiting from their experience and attracting them to Kuwait, we will certainly witness a great development in health care efficiency, budget savings, and higher quality of health services.”
He concluded by saying, “The regulatory environment in Kuwait is on the brink of a major transformation, and changes in this domain will unlock unprecedented possibilities for enhancing the quality and scope of healthcare. We stand on the cusp of a dramatic shift in Kuwait's healthcare sector. As we move towards a healthier future, we look forward to strengthening our partnerships with French brands, embracing challenges, and seizing opportunities to be part of this transformation.”
Vision Golfe 2023 is an annual conference that aims to enhance commercial cooperation between France and the GCC countries by showcasing France's renowned excellence and industrial expertise, its strength in key sectors, and its robust policies. Over a two-day period, the conference addressed a wide range of topics, including the best practices for establishing sustainable partnerships and exploring investment opportunities in sectors such as space, digital transformation, green industry, renewable energy, biotechnology, culture, consumer goods, cosmetics and fashion, food, transportation and logistics, and healthcare.
