Title: CMA participates in Kuwait Economic Forum (Kuwait Vision 2035) in Brussels

KUWAIT CITY, 19 February 2018 - A delegation of the Capital Market Authority participated in the Kuwait Economic Forum (Kuwait Vision 2035) held in Brussels, Belgium, on Monday, 19 February 2018, organized by the Kuwait Direct Investment Promotion Authority (KDIPA) in cooperation with the Arab- Belgian- Luxembourg Chamber of Commerce. The head of the Capital Markets Authority delegation was Mr. Muthanna Al Saleh, Head of Markets Sector, who delivered a speech explaining the role of the Authority in regulating the securities activity in Kuwait, in addition to the most recent achievements in the development of the national economy, one of the most significant is the privatization of Kuwait Stock Exchange, the implementation of the post-trade model, and the benefits expected from those projects.

Mr. Muthanna Al Saleh gave a brief overview of Kuwait's capital market, the stock exchange and clearing house and the establishment of the Capital Markets Authority, its law and executive bylaws. He also provided an explanation of general and specific regulatory provisions in the country, including the protection of minority interests.

Al Saleh explained the future aspirations and expected impacts of the current projects under implementation which are expected to put Kuwait on the global map.

This participation came as an invitation from KDIPA in the belief of the importance of cooperation between all parties in the capital markets system in the State of Kuwait in order to accelerate progress. The representative of KDIPA, Mr. Mohammed Yacoub, Assistant Director General for Business Development at KDIPA delivered a speech explaining the investment environment in Kuwait, and economic and investment developments, in addition to Kuwait's competitive advantages that attracts foreign capital.

The President of the Arab-Belgian-Luxembourg Chamber of Commerce delivered a welcoming speech, in which he praised Kuwait's role in helping countries in need and supporting refugees around the world.

The Ambassador of the State of Kuwait in Belgium and the Head of Kuwait's Mission to the European Union, Mr. Jasem Al Budaiwi, delivered a speech on the economic condition in Kuwait and the global economic indicators, which give a positive impression on Kuwait and the important role that all concerned parties in the capital market in Kuwait.

Mr. Majid Al-Ajeel, Chairman of the Kuwait Banks Association, spoke about the role of finance and technology in the future of Kuwait from the perspective of the private sector, as well as the impact of the banking sector on the economy in general and urged investors to enter the Kuwaiti market because of its many advantages.

This was followed by the speech of the Secretary General of the Supreme Council for Planning and Development Dr.Khalid Mahdi, during which he reviewed the economic development plan and gave a detailed explanation of the current and future projects in Kuwait, in addition to the five pillars on which to build a vision of a New Kuwait, which are:  effective legislative management, sustainable economy, sophisticated infrastructure, sustainable living infrastructure, high quality health care, innovative human capital and world-class status.