In recent years Kuwait has seen steadily expanding trade activity with neighbouring countries – including the member states of the GCC and other Middle East nations – and a variety of key partners further afield. At the same time, the government has introduced a substantial amount of new legislation in an effort to boost foreign direct...
While Kuwait’s banking sector fared well in the wake of the 2007-08 international financial crisis compared to many GCC states, the sector regulators – the Central Bank of Kuwait (CBK) and the Capital Markets Authority (CMA) – have nevertheless worked to shore up the industry to ensure its long-term stability.
After setting out a broad outline of the country’s second five-year development plan in August 2014, the government approved the KD34.15bn ($117.65bn) strategy in February 2015. The announcement builds on a successful year of project implementation in 2014 and emphasises a commitment from the authorities to maintain capital investment, despite...
The Kuwait Development Plan 2015-20 looks to address a range of challenges and hurdles that have hindered the country’s economic development strategy over the last five years. While 2014 proved to be a stellar year in terms of projects awarded and implemented, the government has recognised that reforms are required in order to maximise the...
Following a collapse of the international shipping market, in 2012 the container route from Shanghai to the Gulf through Dubai experienced the second-highest freight rate growth in the entire intra-Asian region. This is part of an emerging trend, with GCC-Asia trade maturing. A relationship that was once just based on energy demand is...
As a major global oil producer, Kuwait is a key member of both the Organisation of the Petroleum Exporting Countries and the GCC. Additionally, the country is one of the most politically dynamic in the GCC, which has afforded it strong foundations to help tackle recent issues concerning parliamentary elections and accountability. By continuing...
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