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Performance has rebounded in the Kuwaiti banking and financial sectors after a number of years repairing the damage caused by the 2007-08 global financial crisis. Banks’ balance sheets show that net profits, assets, loans and deposits are all growing strongly, and financial metrics look robust, while various industry assessments show that it is well capitalised. This chapter contains a roundtable with Adel Abdul Wahab Al Majed, Chairman, Kuwait Banking Association; and Vice-Chairman and CEO, Boubyan Bank; Michel Accad, Group CEO, Al Ahli Bank of Kuwait; and Elham Y Mahfouz, CEO, Commercial Bank of Kuwait; and an interview with Mohammad Y Al Hashel, Governor, Central Bank of Kuwait.

After accumulating large amounts of wealth through the export of oil, Kuwait is now looking to deploy that wealth to develop and diversify the economy. The nation aims to attract $200bn in foreign direct investment over the next 15 years to 2035 and become a global centre for trade and finance. The government is making concrete steps towards achieving its ambitions with incentives for the private sector and investments of its own. This chapter contains interviews with Sheikh Meshaal Jaber Al Sabah, Director-General, Kuwait Direct Investment Promotion Authority; and Meshal Alothman, Director-General, Public Institution for Social Security.

Various developments point to healthy economic performance in the near term for Kuwait. Chief among them are the upgrade of the country’s stock exchange, which has been approved for addition to the MSCI Emerging Markets Index; the continuing roll-out of a large infrastructure programme; and the transition into higher value-added downstream production within the country’s leading hydrocarbons industry. Meanwhile, prudent macroeconomic policies – including building one of the world’s largest sovereign wealth funds – have helped Kuwait weather the recent protracted downturn in oil and gas prices. Foreign investment has been welcomed as Kuwait capitalises on its strong regional and international connections to mobilise global interest.

Kuwait is a constitutional sovereign state situated in the north-western corner of the Gulf, bordered by Iraq and Saudi Arabia. Despite challenges in the region, Kuwait has largely maintained a neutral stance, which has benefitted its multilateral trade, investment and political bonds with its neighbours and the wider global community. By continuing with efforts to diversify the economy and reduce its dependence on oil revenues, Kuwait is adding momentum to several large infrastructure development projects, and encouraging greater levels of private sector participation and investment. Ongoing and future projects are set to further integrate Kuwait into the global economy and raise its overall competitiveness. This chapter contains a viewpoint with Emir Sheikh Sabah Al Ahmed Al Jaber Al Sabah

Mexico’s energy and utilities sector has benefitted from increased openness and competition brought about by the 2013 energy reform. Although recent policy changes have sought to limit the involvement of foreign and private firms, there are still significant opportunities for investment, particularly as the national oil company struggles to reduce its debt. Although political risk and uncertainty are likely to deter investors, private firms are still expected to play an important role in assisting smaller local providers. As demand continues to rise, investment in upstream projects is aiming to solve the problem of dwindling crude oil and natural gas resources, and ensure the country possesses enough resources for the future. In addition, despite the new government cancelling clean energy auctions, private developments and deals in the renewables segment are moving forward, with multiple solar energy projects under way. This chapter contains an interview with Tania Ortiz, CEO, IEnova.