Kuwait accounts for approximately 6.1% of the world’s proven oil reserves, with hydrocarbons revenues comprising more than 65% of the country’s GDP and 95% of total exports in 2013. Cautious budgetary decisions have resulted in large surpluses, creating a solid base for public expenditure programmes such as the National Development Plan, which is set to diversify the economy and boost employment.
The construction industry is widely expected to be one of the principal beneficiaries of Kuwait’s portfolio of KD30bn ($107.14bn) in large projects first proposed in 2010. With an evident determination by Kuwait’s latest parliament to implement key components of the National Development Plan (NDP), confidence is building within the sector, which is...
The industrial sector is looking forward to the substantial growth opportunities presented by a number of development projects announced by the government in February 2010. Many hope that 2013 will see progress accelerate on these projects after a number of delays, primarily the result of tensions between parliament and the Cabinet. While challenges...
In what ways will the New Companies Law (NCL) reduce the obstacles faced by businesses and investors seeking to operate in Kuwait?
Oil production retains its key role in the economy, however plans are under way to encourage diversification away from hydrocarbons towards an economy that is more knowledge based. The political climate has been characterised of late by a number of disputes, often resulting in either the resignation of the government or the dissolution of parliament, which has contributed to the slow progress of some projects.
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