Finance Ministry reviews BOT contract renewals
The Kuwaiti Ministry of Finance is studying the implementation of a new contracting mechanism with investors to manage, operate, and maintain publicly owned projects whose contracts have ended under the "BOT" (Build-Operate-Transfer) system. The goal is to renew temporary contracts until they can be offered in public auctions and handed over to the winning bidders. The mechanism includes increasing rental revenues by approximately 20 to 30%, based on the figures from the past three years of the projects, while ensuring uninterrupted operation. It also aims to preserve the identity of the commercial and tourism projects, which are vital destinations in the market. This measure seeks to make these projects more attractive to investors and to secure steady revenues for over two decades. Additionally, it supports the sustainable development strategy by enhancing partnerships with the private sector and promoting economic growth aligned with Kuwait's Vision 2035.
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