Kuwait

Kuwait is forging ahead with infrastructure upgrades as part of its $107bn National Development Plan to support all modes of transport. Home to 6% of the world’s oil reserves, hydrocarbons continue to define Kuwait’s current transport infrastructure, yet contemporary strategic goals – in line with Vision 2035 – look to develop the entire sector with diversification as the central focus. If...

Kuwait’s mall culture is currently at the forefront of a resilient and growing retail sector that continues to draw the interest of both international brands and foreign investors. The number of shopping centres continues to grow and international brands find opportunities in local markets, with luxury segments showing a strong recovery and growth. The automobile industry has also performed well...

With the introduction of 4G, the highly competitive telecoms market is likely to see growing use of smartphones and data services. The future development of the sector would be greatly aided by a new telecoms law and the emergence of an independent regulator. The need for this is clear and the Ministry of Communications has a plan to address this. In IT, state spending remains the primary growth...

Driven by a national development strategy, a raft of new projects are taking shape in the construction industry, all of which provide opportunities for both domestic and foreign contractors. Meanwhile, real estate is in the early stages of a recovery, with legislation and the high purchasing power of a young and expanding population helping the sector to regain lost momentum. This chapter...

Hydrocarbons wealth has been the central pillar of Kuwait’s economy for nearly a century, and the nation’s proven oil reserves of around 101bn barrels underwrite its future economic wellbeing. However, the supply of non-associated natural gas, which the country discovered in 2006, has fallen behind demand, as domestic electricity generation infrastructure struggles to keep pace. Still, Kuwait has...

While the insurance market has grown steadily over the past decade, market penetration in Kuwait remains limited at 0.58%, the lowest in the GCC region. Encouraged by high growth rates and favourable entry requirements, the sector has grown from six companies in 1999 to 34 today. Despite steadily increasing competition through the first half of the 2000s, the industry as a whole posted solid...