BYRNE INTERVIEW WITH JASON D'SOUZA branch Manager kuwait
WHICH SECTORS HAVE PERFORMED WELL THIS YEAR IN KUWAIT AND ARE LIKELY TO DO SO IN 2021?
The manufacturing sector has been steady for us this year as well as production plants and the O&G sector and we expect this to continue into 2022. The spread of Coronavirus has dealt a severe blow to the construction sector in Kuwait, with the number of building permits plunging by 40% in 2020. However with its Vision 2035 program, Kuwait has signaled that it is becoming more open to foreign investment with the plan including various mega projects, including the building of a multipurpose industrial city to the tune of USD 6.6 billion. The development plans hope to attract private investment; Kuwait’s tax framework makes it an attractive target for foreign investment. With benefits like income tax holidays and customs-free equipment importation, the country is hoping to attract more which bodes well for us in the region.
WHAT ARE YOUR GOALS AND OBJECTIVES FOR 2021?
At Byrne, we believe that 2021 will continue to be a year which will allow us to emerge from Covid-19 and be able to return to some sort of normal. Our focus will be on recovery and growth by continuing to measure sales activities and monitor our pipeline. The market remains strong albeit competitive and we intend to nurture relationships with existing customers as well as focus on the most likely areas for new business potential. We have been through downturns before, probably never on a scale like this, but we also believe that with every downturn there’s an upturn and we are going to emerge stronger.
IN TERMS OF THE MARKET OVERVIEW IN KUWAIT WHAT ARE THE KEY TRENDS YOU SEE THAT INDICATE A POSITIVE SIGN IN YOUR INDUSTRY IN THE COMING FUTURE?
With easing restrictions, the slow return of the market to normal conditions is underway. Trends that we see that indicate a
WHAT HAS HELPED YOU ACQUIRE AND RETAIN CUSTOMERS THIS YEAR?
We at Byrne are no stranger to excellent customer service and this comes first and foremost from us. We are always listening to our customers’ needs and adapting to them to provide the best possible solution and stay ahead of the competition. We have strong relationships in place which has helped us retain customers and have recently improved our customer relationship
positive sign for us would be the aforementioned emerging construction, infrastructure and urban development. Furthermore, Kuwait is a global hub for the petrochemical industry with largest capacity LNG Storage as well as the largest wastewater purification plant. We see a lot of opportunities for Byrne in this country and we look forward to what’s to come.
management process.
WHAT ARE THE CURRENT CHALLENGES IN THE MARKET AND DO YOU HAVE STRATEGIES TO STAY AHEAD OF THE COMPETITION?
The main challenges we have faced have been offsetting the negative effects of the pandemic. Though lockdown restrictions in the country are ending, the full return of pre-COVID19 fuel consumption levels has yet to be seen.
The country has many other challenges to overcome to achieve its growth and development goals for the upstream segment, with complex resources to leverage and technical hurdles to tackle. The ripple effect of the pandemic is ongoing and while we see it improving, we expect it to continue for the foreseeable future. For example, the slowdown or postponement of planned shutdowns that would typically happen in the O&G sector and represent a huge market for us. In addition, companies made changes to their production capacities and activities, again key areas where we are suppliers of products and services. The impact of the pandemic on the events sector has been a huge challenge for us. We have been a leading supplier in the events space for many years and like every other, 2020 had promised to be a huge year for us. The industry was decimated by the pandemic but a certain resilience has been maintained and we see this picking up in the last quarter of 2021 and beyond. The roll out of vaccinations across Kuwait is a sure sign for the resumption of large scale events.
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