Kuwait’s economy has long been underpinned by the production and export of crude oil. Although the rise in oil prices in 2021-22 boosted government revenue and macroeconomic stability, the Covid-19 pandemic – which preceded the commodity price boom – also underscored the risks of overreliance on an industry subject to fluctuating global demand. This has created a fresh impetus...
As part of plans to expand and diversify its global trade partners and fulfil their respective national development strategies, the GCC has launched negotiations with the UK on a free trade agreement (FTA). This partnership is expected to bolster the bloc’s economy, help attract investment and provide greater opportunities for local businesses.
Development aid is a fundamental and long-standing pillar of Kuwait’s foreign policy. Since independence, the combination of the country’s geography, relatively small armed forces and oil wealth have shaped the views of Kuwaiti leadership on the importance of bilateral and multilateral development cooperation as a tool of diplomacy. The country has pioneered regional efforts...
Situated in the north-western corner of the Gulf, bordered by Iraq and Saudi Arabia, Kuwait is a hereditary constitutional monarchy and a founding member of both the GCC and the Organisation of the Petroleum Exporting Countries. The country’s plentiful oil reserves have provided a strong platform for economic development and prosperity.
A productive cross-sectoral innovation ecosystem underpins the world’s leading economies, enabling countries such as the US, China and Germany to respond effectively to existential challenges, economic inefficiencies and commercial opportunities – ultimately bolstering economic sustainability. In recognition of this, Saudi Arabia’s government is working to plug gaps in the...
Economy-wide digitalisation and a steadily developing innovation ecosystem are aiding socioeconomic development in Saudi Arabia. When strategically implemented and harnessed, innovative and disruptive technologies not only positively impact commercial economic performance, but also equip nations to find cost-effective solutions to pressing...
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