Although Kuwait’s economy is dominated by hydrocarbons, it is non-oil activity, alongside the rebound in crude prices experienced since January 2016, that is driving growth forecasts. National Bank of Kuwait estimated overall real GDP growth of 3.6% in 2016, and forecast growth of 1.7% in 2017 and 2.7% in 2018, while in the non-oil sector it...
A far-reaching vision for New Kuwait 2035 was unveiled in 2017, the aim of which is to develop the country into a cultural centre, a financial hub, a world-leading manufacturer of petrochemicals, a focal point for foreign investment, and a place for knowledge transfer in renewable energy and IT by 2035. Sheikh Mohammad Abdullah Al Mubarak Al...
With plans to invest KD34bn ($112.4bn) in strategic projects by 2019, Kuwait wants to raise a third of that capital from the private sector. One of the key vehicles geared up for delivering that aim is the public-private partnership (PPP) model, a relatively new concept in the country, but one that has been growing in popularity across the GCC...
The past decade has seen substantial changes in the global economy and geopolitics, with the rise of China and Russia’s re-emergence on the global stage being two particularly important trends. These developments are creating new opportunities for GCC member states as they look to diversify their economies and trade, seek investment...
Kuwait is a member of both the Organisation of the Petroleum Exporting Countries (OPEC) and the GCC. Additionally, the country is arguably the most politically dynamic in the Gulf, which has afforded it strong foundations to help tackle recent issues concerning parliamentary elections and accountability. By continuing with economic...
ETIQUETTE & DRESS: Emiratis attach great importance to hospitality. Long greetings before a meeting, either business or social, are important. In Abu Dhabi it is common to give handshakes in business settings, but it is advisable not to shake a woman’s hand unless she initiates the gesture....
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