Kuwait

The construction industry is looking to a series of projects, combined with increasing demand from the private sector, to generate momentum following a period of minimal growth and thin margins.

The launch of 4G long-term evolution (LTE) services in Kuwait has sparked a wave of increased activity among mobile operators as they move to attract new business in what is already a fiercely competitive telecoms market.

A recent decision by a parliamentary committee is expected to clear the way for the privatisation of Kuwait’s national airline, which in turn could reinvigorate a long-stalled programme to open up ownership of other state enterprises – or at least parts of them – to the private sector.

The opening of the long awaited, third phase of The Avenues mall in Kuwait has provided the retail sector with a major boost, while reaffirming a growing demand for luxury goods.

The year 2012 was one marked by ups and downs for Kuwait, with a record profit highlighting the country’s economic growth, but also exposing its perpetuating reliance on oil revenues. While the planning of new infrastructure projects and growth in the banking sector showed that the country is recovering well from the effects of the 2009 economic crisis, the political scene was dominated by tensions between the government and opposition, which left the parliament paralysed for most of the year.

Efforts to transform Kuwait’s logistics infrastructure are gathering pace following the announcement that the first phase of the $1.2bn Mubarak Al Kabir port development is on track for completion in the second quarter of 2014.