Industry Authority Seizes Al-Wasilah Land
The Kuwait Industries Authority plans to develop the "Al-Wasila" project land in Al-Ardiya Industrial Zone, which it has taken over after concluding its lease agreement with the National Fund for Small and Medium Enterprise Care and Development. The plan focuses on dividing the land into two sections: the first is an industrial complex dedicated to small and medium-sized project owners, especially Kuwaiti youth who are unemployed, providing them with land at symbolic prices and support for financing their projects. It is proposed that approximately 50% of the project be allocated to this segment. The second section involves redeveloping the remaining area through the private sector via public tenders to invest in commercial and service activities. The goal is to boost non-oil revenues, support young entrepreneurs, and promote economic diversification in line with Kuwait Vision 2035. The project aims to create an integrated ecosystem to support entrepreneurship, generate employment opportunities, and diversify the national income sources, leveraging the project's strategic location and larger area to enable a variety of investment activities.
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