Banking in Kuwait is undergoing a digital transformation, as the state’s strongest non-oil economic sector increasingly moves to meet demand from a young, tech-savvy population.
The Middle East
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Economic view | Paddy Padmanathan, President & CEO, ACWA Power, on the Saudi private sector and development of the renewable energy industry
19 Jun 2017
What greater role do you think the Saudi private sector can take with the launch of Vision 2030?
As Abu Dhabi looks to fulfil economic diversification targets as part of both its medium- and long-term development strategies, its already strong industrial base continues to develop as a key facilitator of this goal.
Coinciding with a visit from US President Donald Trump, the inaugural Saudi-US CEO Forum on May 20 in Riyadh saw a series of deals signed between numerous companies in both the oil and non-oil sectors, with Saudi Arabia looking to enhance private sector involvement in its economy and increase foreign investment as part of its Vision 2030 economic blueprint.
A reliable regulatory framework, abundant regional capital and good support infrastructure helped Bahrain deliver solid growth for its asset management sector last year.
Kuwait has maintained the tempo of its infrastructure development drive, despite a challenging economic climate that resulted in a second consecutive budget deficit in the previous fiscal year ending March 31.