Tariq Arabi: ACICO Industries is one of the leading industrial companies in the construction and contracting industry, which has been able to achieve a prominent position during the past years. It is also one of the few companies that has succeeded in achieving positive results recently, despite the recent regional and global geopolitical conditions. whether.
In this regard, the Chairman of the Board of Directors of “ACICO Industries”, Mazen Al-Nahedh, confirmed during his first press interview with “Al-Anbaa” after assuming his new position in the company, that “ACICO Industries” continues to work to enhance its positive financial results, even in light of the crisis. Many countries in the region suffer from the current situation, due to the decline in government spending on urban and development projects.
He added that the countries of the region should not rely too much on high oil prices as a source of income, because oil prices were and still fluctuate, so it is unacceptable to continue to rely on them as a single source of income, and not to think about finding other sources of sustainable development and income in the long run. Al-Nahedh also touched on a number of important economic issues, through the following dialogue: First, what are the most important sectors covered by ACICO Industries? * “ACICO Industries” includes a number of integrated sectors, with factories and different activities. In addition to the construction and real estate sector, the company also works In the logistics sector, its business in the industrial sector in general revolves around the manufacture of integrated and high-quality building materials (such as aerated concrete products such as white bricks, in addition to various types of cement and other construction materials). Moreover, “ACICO Industries” factories are spread in each of Kuwait It is worth noting that the company is always keen to increase its market share in Kuwait and the region by providing a diverse and comprehensive range of the best products and services. Tell us about the situation of “ACICO Industries” at the present time?* Despite the series of social, economic and health challenges faced by the whole world, which had a great impact on the various sectors of work and its various fields, but that “ACICO Industries” has succeeded And, thanks to God, in maintaining its financial ability and solvency by proceeding with the implementation of its strategic plans with deliberate steps, which depend largely on continuing to maintain the quality of its products and services on an ongoing basis, as well as diversifying its sources of income across its various sectors. The solidity of our financial position and our leading position in the local market and in foreign markets as well, as «ACICO Industries» was able to continue to produce building materials and construction components at fixed rates, which contributed to the presence of a distinguished sales volume. On the level of the local market, the company succeeded in achieving high rates of sales In light of the high demand for building materials in general, and the recovery of the construction market, especially after the recent distributions of the Public Corporation for Housing Welfare, and the delivery of building permits to a large group of new housing city plots Headed by Al-Mutlaa Residential City and West Abdullah Al-Mubarak. ACICO Industries, in its various sectors, is working to contribute with all its capabilities to the advancement of these new housing cities and to contribute to their development and the development of the built environment in the country in general. As for foreign markets, I can To say that we have begun to reap the fruits of our efforts in those markets, especially after the recovery of all the region’s markets again. With the increase in demand for building materials and construction services in recent years, how did “ACICO Group” deal with these requests?* The last stage in enhancing its production by working around the clock to meet the demands of its customers, as it focused on increasing the efficiency of the operational sectors and their production capabilities, striving to achieve an increase in sales and thus an increase in revenues, based on successful marketing and promotional policies, in conjunction with the development plan The national emanating from “Kuwait Vision 2035” and the projects presented to it, which had a significant impact on the stability of the company’s operational activity. Accordingly, all the company’s sectors are working at their maximum capacity in All of its factories to meet the increasing demand for building materials by citizens who are about to build in new residential areas and cities across the country, not to mention that the company was keen to contribute to the implementation of major development projects in the State of Kuwait, including but not limited to the Mawaqif project. The new airport, and other government projects. What are the factors that contributed to the recovery of “ACICO Industries” sectors and their achievement of profitability, despite the persistence of challenges at the local and regional levels? * Perhaps one of the most important factors that contributed to the speed of recovery of the company’s sectors is the development of a solid strategy with a vision that depends on the process Primarily on the foundations of adaptation and flexibility to keep pace with changes, while identifying weaknesses and strengths and deducing appropriate solutions to problems and obstacles to overcome them, all through logical, practical and realistic analysis, which helped to overcome many obstacles, and reach the desired results, which we hope to continue to achieve. According to the plan of the Board of Directors in this regard. After more than two years after the Covid-19 pandemic, has “ACICO Industries” changed its plan from focusing on foreign markets and returning to Focusing its activities in the local market?* We have always been keen in “ACICO Industries” to focus all our business in a balanced way in developing our activities in all the markets in which we are present without exception, and we have always sought to increase our market share in all of them. However, we pay special attention to the Kuwaiti market In line with our vision to serve the Kuwaiti citizen and provide his needs of building materials according to the highest standards, the Kuwaiti market is currently characterized by its great activity and the increasing demand for our integrated and exclusive products and services, which enjoy a good reputation in this sector. But what I would like to say here, is that Foreign markets remain an integral part of our success, which will be evident, God willing, with the market recovery through our results in the future, despite the impact of the pandemic on the company’s sales, especially after the closure movement that affected most countries and markets of the world. Loans, especially after achieving an initial recovery at the level of the group’s sectors?* With regard to loans, it can be said that we are currently working on rescheduling the company’s loans in line with the current situation of its sectors, emphasizing the strength of the relations between ACICO Bank Na’at” and the Kuwaiti banking sector, especially since the Board of Directors is keen to continue achieving positive financial results in all sectors of the company, by supporting the executive management and the company’s employees by all means to achieve the desired goals. Could you tell us about the company’s future plans in general?* Our plans are based on A number of axes that always help us reach the objectives of the company and its sectors with the highest level of efficiency, starting with conducting periodic studies and evaluating the performance of all sectors to achieve the greatest benefit from the strengths in each sector and their development, while working to address all weaknesses and sound risk management. There is a great focus on investing heavily in the human element and advancing its performance to the highest levels, through a comprehensive program for human resources management that includes a set of intensive training courses, developing the capabilities and skills of our employees, as well as attracting local talent to contribute to the implementation of these aspirations. The secret of our success lies during the coming period in working to expand the scope of our local and regional operations, and striving to enhance our local and international financial solvency in order to achieve the interests of the company. Contributors and stakeholders. If we move to talk about ACICO Industries’ assets abroad, what are the latest developments in your hotel assets in the UAE, especially in light of the opening of “Expo Dubai 2021” and the increasing occupancy rate of hotels and hotel apartments there?* This is a very important question as I can emphasize the extent of the positive impact of the "Expo Dubai" on the company's hotels and real estate assets in Dubai, which was manifested by the noticeable increase in reservations for hotels and hotel apartments to attend this important event, noting that "ACICO Industries" owns the five-star "Voco Dubai" hotel. On Sheikh Zayed Road and Nassima Tower for offices and hotel apartments, in addition to the “Radisson Bell” Resort in Fujairah, the “Business Bar K” complex and others. There is no doubt that we count a lot on the importance of these assets in strengthening the company’s position at the regional level, and emphasizing the investment diversification policy that achieves The vision of the Board of Directors, as these assets are still able to achieve more returns in light of the great interest witnessed by the Emirate of Dubai during the current and future period. Did the Corona pandemic affect the market assessment in Kuwait in general?* Before Corona, the situation was normal, but this The pandemic came and caused a very costly crisis and affected the gross domestic product of many countries, due to the closures and the cessation of economic activity and the stumbling of many companies, many of which are still unknown and whether they are able to continue or not, but despite that, we can say With the acceleration of vaccination, taking vaccine doses and returning to normal life, there is optimism that the results in the near future will be better, God willing. How do you view the economic situation of the State of Kuwait, and what are the realistic solutions to this situation from your point of view? Oil as an essential commodity for calculating income and wealth in Kuwait is long-term unreliable, and practical steps must be taken to completely reduce dependence on oil and to resort to diversifying the production base of the national economy, including defining long-term plans that include various development projects and enhancing awareness and attention to vital sectors Other sectors and the advancement of them, such as the industrial sector, the sector of small and medium enterprises, energy and others, because of their positive impact on the social and economic level and the provision of job opportunities and innovation for young people The ambitious Kuwaiti. How do you view the economic infrastructure in Kuwait, is it strong or weak? * Kuwait has a group of economic industries that are considered among the strongest industries at the international level, including the banking industry, which ranks among the global industries, as well as the telecommunications industry, which It is managed by the largest companies on a global level. As for the industrial sector, although it offers products at a high level of quality, it needs more support and awareness of its paramount and inevitable importance as a strategic choice in achieving economic sustainability and diversifying sources of income. The leading industrial companies, what do you think about the needs of the industrial sector now and how it can be supported?* First, it is necessary to unify industrial visions and coordinate between all the concerned government agencies responsible for the industrial sector and the pioneers of industries, while strengthening the means and channels of communication regarding the development of sound strategic plans that It aims to raise the contribution of the industrial sector to the total domestic production, in addition to establishing specialized funds and financing sources concerned with supporting and financing the industrial sector, as well as strengthening the Research and development aims to increase the competitiveness of the industry, and to adapt modern technology in the development of production. The industrial sector also requires the use of the private sector to support innovators and initiators and transform their innovations into commodities that are marketable locally and globally, and attention must be paid to the quality of the industrial product and its follow-up, and to promote competition in meeting market needs. On the level of human cadres, it is necessary to absorb the outputs of education from the national workforce and coordinate with educational leaders to qualify, train and develop the capabilities of national industrial cadres through scholarships in the fields of industrial management, production management, operations and modern technological applications. , It is necessary to establish and develop new model cities and industrial zones that are fully equipped and qualified in terms of infrastructure, transportation networks, etc., and a set of solutions and applications of modern smart cities must be available to keep pace with developed countries in the field of advanced industries, while giving factories spaces that allow for any expansion plans So as not to remain confined within a limited production framework.How to strengthen the strategy Does the industrial sector contribute to opening new horizons for industrialists?* The industrial sector in Kuwait has witnessed a tremendous development in the recent period, which has contributed to changing the general view of young people and their productive energies to move towards industry. The future prospects of the industrial sector in Kuwait are broad, and it has a large space for growth and development, bearing in mind that the state possesses the best basic components of vast areas, abundant capital, human resources and large and capable energies for the advancement of local industries, and perhaps empowering the industrial sector in general will contribute to transforming Kuwait has become a regional industrial center that attracts local and foreign investments, but solutions must be found to push investment towards the industrial sector and meet its needs to be more advanced. Future Sectors Al-Nahedh stressed that the energy and alternative energy sectors and other vital sectors can have a promising future in the near term, especially Most of the world's countries are moving towards benefiting from the energy of the sun, wind and renewable water and working to store them.
He added that Kuwait should start investing in alternative energy and reduce dependence on oil as a main source of energy and income, especially since this matter is related to the environment in the first place.
