نائب رئيس مجلس إدارة شركة مجموعة الخليج للكابلات والصناعات الكهربائية لـ CNBC عربية: الأعمال التشغيلية دعمت الشركة بالتوسع والعمل في الأردن والعراق إلى جانب السوق الرئيسي في الكويت - video Dailymotion

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Watch نائب رئيس مجلس إدارة شركة مجموعة الخليج للكابلات والصناعات الكهربائية لـ CNBC عربية: الأعمال التشغيلية دعمت الشركة بالتوسع والعمل في الأردن والعراق إلى جانب السوق الرئيسي في الكويت - CNBCArabia on Dailymotion

Transcript

00:00 "I think thanks to the strategy set by the cabinet, we were able to turn the Gulf cable company

00:07 into a holding company.

00:09 Our investments have proven to be successful.

00:12 Many of the companies we invested in have been successful, such as Fulad, Borsa and the

00:19 national investment company.

00:21 And also, thanks to God, in terms of manufacturing and operations, our production was good and

00:27 we were able to work in Jordan, Iraq and the main market, which is Kuwait."

00:34 "After the period of the Borsa company's shares is over, which will be over in February,

00:40 will this affect the company's data?

00:43 "Yes, of course, the impact will not be on the P&L, but on the balance sheet.

00:49 The price will be equal in the market.

00:53 This will be clear to us in the first quarter."

00:59 "What are your expectations for the performance of the cable company in 2024?

01:02 Do you expect the same performance and growth rate?"

01:05 "Of course, the government's subsidiary role must move faster.

01:10 As you can see, there is no committee of deficiencies, and the issue of delaying some projects.

01:18 We hope that the new government, the new direction and the support from all parties will move

01:28 faster and we will see that there are many projects that will be launched in Kuwait, and

01:33 God willing, we will have a share in them."

01:36 "My last question is, what is the impact of inflation and the rise in the price of raw materials

01:40 and raw materials on the work of a company such as the cable company?"

01:43 "Of course, the cost will increase, and do not forget that there is a cost of financing,

01:50 but God willing, as we see, it may remain as it is if it does not go down in a certain period,

01:58 and this will be positive for all companies and even the markets.

02:02 As for raw materials, of course, it is variable, and any increase will affect the cost of

02:11 the product, so it will have an impact, but it will also affect the consumer."

02:21 "What is your opinion on the Kuwaiti government's approach to equalizing the dealings between

02:26 Gulf and local companies, i.e. manufacturing companies?

02:30 What is your opinion on this approach?"

02:32 "Of course, the impact will be negative on all manufacturing companies in Kuwait, and

02:38 I think it is not fair to have an equalization in the Kuwaiti product with the Gulf product,

02:46 unless we treat it as such, and today I do not see that in any Gulf country we are treating

02:54 it as a local product in these countries.

02:57 I will not mention specific countries, but I will talk about it in general.

03:01 Is it fair to say that I have a company with more than 600-700 employees, which pays for

03:12 its business, the Kuwaiti Institute of Scientific Advancement, the Zakat, electricity and water,

03:21 and of course the industrial land of the state, but I will not compete with a library with

03:32 four employees who sign papers and submit them to the committee of the negotiations.

03:36 If I had the opportunity to enter other markets under the same conditions, I would not have

03:42 any problem, but I would only focus on the Kuwaiti market, and I would not be able to

03:47 compete with other countries in the Gulf, and I would not be able to enter the market.

03:52 This is unacceptable.

03:53 We are required to have a Kuwaiti business ratio, and we are obliged to support the business,

03:59 and all of this is obligatory on us, not on others.

04:02 I think it is not fair, and it will have a negative impact on all manufacturing companies,

04:07 not only in the Gulf, but in the whole of Kuwait.

04:10 The Kuwaiti product that is manufactured, whether from small companies or the main consumer

04:19 products in Kuwait, will have an impact.

04:22 In your opinion, why was this decision taken, even though it is not applied in other Gulf

04:27 countries?

04:28 Why was this equality and superiority given, even though other Gulf countries give

04:32 superiority to their manufacturers and companies?

04:34 This is a question that the decision makers ask us, but we ask this question ourselves.

04:41 What we understand is that there are Gulf agreements, but the Gulf agreements should be

04:48 for all, and there should be an agreement.

04:51 What has been shown today, and there are official books and messages that prove that there is

04:56 no such agreement, or we can say that there is no such treatment.

05:00 If we do not treat it as it is, then the same thing will happen to us in Kuwait.

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