Authors: Ahmed Nawaz Hakro
Addresses: SCPD-UNDP, Kuwait
Abstract: The study is designed to review and assess the existing institutional framework of public investment management system (PIMS) in Kuwait. Some of the key processes, issues and challenges are debated within which the role of the government as a manager, financier and regulator is defined. A number of weaknesses and strengths in system such as transparency, ownership, technical capacity and regulatory capacity are discussed. The results suggest absence of detailed procedures and guidelines at the country level which can link the development and perspective plans with multiyear fiscal commitments. The system is inadequately linked with the perspective vision and plan documents. Sectoral priorities are yet to be related to the development plans and with the institutional frameworks. The system suffers from shortage of technical staff, evaluation of alternatives and rigorous cost benefit analysis. The system needs to be integrated with national development vision, plans, investment programs and projects. It requires to be implemented by strengthening the various skills, stakeholders' ownership at national level.
Keywords: public investment; investment management; institutional framework; project management; national vision; policy planning; Kuwait; transparency; ownership; technical capacity; regulatory capacity; development planning; stakeholders.
International Journal of Applied Nonlinear Science, 2015 Vol.2 No.1/2, pp.23 - 38
Received: 30 Oct 2014
Accepted: 27 May 2015
Published online: 11 May 2016 *