Slashing expat workforce detrimental to economy

Manpower is the backbone and the most valuable asset and capital of a country’s economy and it must therefore be protected and nurtured, accordingly to a Kuwait-based economist. Speaking with the Kuwait Times, Dr Hajaj Bukhadoor, a Kuwaiti professor of economics, stated that Kuwait should take lessons from the principles of economics. “The value of manpower is the first lesson learnt by students of economics and business administration. Human resources are the backbone and the most valuable assets and capital of a company, which need to be protected and nurtured at the same time. The more manpower you’ve got, the more resources you can have,” he said.

However, he added, human resources should be of good quality so they would not burden the economy and could be a real asset to the country. Bukhadoor was speaking in reference to the recently announced statements about a possible reduction in the number of expats employed in Kuwait. Bukhadoor questioned the way in which the ministries of labour and interior were making efforts to fulfil their objective of reducing the number of expatriates in the country. Kuwait is home to more than two million foreigners, who make up twothirds of its total population. Earlier this month, the government said it was planning to halve the number of expatriates working in the country within 10 years. Previously, the government had announced its plans to cut down the number of expatriates by 100,000 annually. “They are about to implement the plan without proper coordination and explanation.

Read more: http://news.kuwaittimes.net/2013/04/03/slashing-expat-workforce-detrimental-to-economy/