In September 2016 Mohammad Al Ajmi, director-general of the Public Authority for Industry, announced plans to boost Kuwait’s industrial output by 25% in the coming years. Although the state controls nearly 101bn barrels of proven crude deposits, the drop in oil prices has compelled the government to push ahead with a host of economic reforms...
How can private sector industrial and manufacturing companies help diversify Kuwait’s economy?
The state-owned oil industry is by far the largest sector in Kuwait’s economy, representing more than half of GDP, 95% of exports and roughly four-fifths of state revenues. As oil and its byproducts are used to make more than 300,000 products globally, the country’s petroleum-based industries and petrochemicals hold significant growth...
The state-owned oil industry is by far the largest sector in Kuwait’s economy, representing more than half of GDP, 95% of exports and roughly four-fifths of state revenues. As oil and its byproducts are used to make more than 300,000 products globally, the country’s petroleum-based industries and petrochemicals hold significant growth potential. By comparison, non-petroleum industrial...
As Kuwait’s economy continues to adjust to the new oil price environment the country’s government is pushing ahead with investment plans and reforms that promise to put the country on a sustainable growth path in the coming years.
Increased investment in Saudi Arabia’s mining sector looks set to lift its GDP contribution significantly in the coming years, as part of an accelerating push to diversify the economy under the Vision 2030 development plan.
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