What opportunities exist for the private sector to invest in value-added activities in downstream that enhance steel’s contribution to the economy?
The Middle East Industry
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Interviews & Viewpoints | Faisal Awwad Al Khaldi, Deputy CEO, Kuwait Steel: Interview from The Report: Kuwait 2018
As Kuwait tries to curb its dependency on hydrocarbons, which accounted for over 90% of state revenues in 2017, other industries are coming into focus. Excluding refined petroleum products and nuclear fuel, manufacturing industries’ contribution to GDP rose by 6.2% in 2017 to $5.6bn, according to the central bank. Meanwhile, refined petroleum products and nuclear fuel’s portion of GDP expanded by...
As hydrocarbons forms the backbone of Kuwait’s economy, the resurgence in global commodity markets bodes well for the future and has led to a renewed sense of optimism. The recovering market is also supporting the government’s diversification efforts under the auspices of the Kuwait National Development Plan, or New Kuwait.
Economic update | Kuwait takes steps to encourage industrial growth and export competitiveness
5 Oct 2018
A new GCC accreditation for Kuwait’s laboratories, coupled with the release of more than 1000 parcels of industrial land, should boost government plans to increase industrial output by 25% in the coming years.
New investment is expected to help Oman sustain expansion of its manufacturing sector, which has established itself as a leading component of the economy on the back of strong recent growth.
Efforts to encourage greater private sector participation have coincided with strong growth in Saudi Arabia’s mining sector, a key part of the country’s diversification strategy and a prominent driver of broader economic expansion.