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Interview

Nouf Al Abdul Razzaq, General Manager, BP Kuwait: Interview
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Interview:Nouf Al Abdul Razzaq What incentives exist for international oil companies to develop innovative and advanced technologies in the upstream segment? NOUF AL ABDUL RAZZAQ: In the upstream segment, we focus technology on exploration, deepwater, managing giant fields and gas value chains. It is in these areas where technology can enable competitive advantages and deliver the most value…
Interview

Salman bin Abdulaziz Al Badran, CEO, VIVA Kuwait: Interview
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Interview: Salman bin Abdulaziz Al Badran In what ways is the country developing and applying the smart city concept? SALMAN BIN ABDULAZIZ AL BADRAN: We hear a lot about smart cities as win-win solutions. Cities with mature smart city deployments have significant benefits, including increased quality of life, reduced environmental impacts and increased operational efficiency. The smart city concept…
Interview

Faisal Awwad Al Khaldi, Deputy CEO, Kuwait Steel: Interview
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Interview:Faisal Awwad Al Khaldi What opportunities exist for the private sector to invest in value-added activities in downstream that enhance steel’s contribution to the economy? FAISAL AWWAD AL KHALDI: In downstream production, there are many potential investment opportunities in both long and flat-finished products. Flat products such as steel sheets, plates and strips are used in several…
Viewpoint

Alex Saleh, Partner, Al Tamimi & Co: Viewpoint
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Viewpoint:Alex Saleh There have been a number of improvements within Kuwait’s legal system over the course of the last 25 years. Back then, we had only three significant pieces of legislation: our civil code, the commercial law and a companies’ law that was already outdated for its usage. It was clear that these laws were insufficient for the requirements of modern commerce and would not…
Analysis

Substantial energy investment set to drive renewed hydrocarbons production in Kuwait

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The decision to invest $500bn in Kuwait’s energy sector by 2040 is part of the government’s drive to pursue significant increases in hydrocarbons production. Long-term goals include boosting domestic refinery throughput to 2m barrels per day (bpd) by 2035, and increasing crude oil production and non-associated natural gas output to 4.75m bpd and 2.5bn standard cu feet per day (scfd) by…
Analysis

Kuwait turns to solar energy to further renewable goals and harness low-cost power

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In early 2019 contracts could be signed for a 1-GW solar photovoltaic (PV) power plant in Kuwait, marking a significant step forward on emir of Kuwait Sheikh Sabah Al Ahmad Al Jaber Al Sabah’s pledge to generate 15% of the country’s energy needs from clean, renewable sources by 2030. While the oil-producing country may wish to play its part in achieving global warming targets, advocates…
Analysis

Kuwait works to improve water utilities and production capacity

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With no fresh surface water and an average rainfall of just 110 mm per year, Kuwait depends heavily on desalination to meet its fresh water requirements. Rapid growth in the country’s resident population, coupled with some of the world’s highest per capita consumption levels, has fuelled demand and contributed to a serious water problem. As new communities are constructed, additional facilities…
Analysis

Kuwait network providers prepare for the rollout of 5G services

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The GSMA, an international industry trade body, forecasts that 14% of the world will have adopted 5G technology by 2025, led by the US with an adoption rate of 49%. However, Kuwait has frequently punched above its weight in the adoption of telecoms technology and enjoys some of the world’s highest mobile penetration rates. In line with its positive technology uptake, the country’s major…
Analysis

Increased budget for Kuwait's real estate sector will result in dozens of new developments by 2020

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The Public Authority for Housing Welfare (PAWH), responsible for building towns, neighbourhoods and homes for Kuwaitis, is spending almost KD1bn ($3.3bn) per year on new developments, aiming to hand over 36,000 residential plots in 2017. Generous government-backed instalment loans are being extended to enable citizens to build homes on their plots. Local media reported PAHW’s budget would…
Chapter

The Report: Kuwait 2018: Retail
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Retail and wholesale trade accounts for a sizeable percentage of Kuwait’s non-oil GDP – at 9.1% as of February 2018 – and there are solid growth forecasts for the coming year. Kuwait has one of the highest per capita incomes in the world at $68,500 in 2017, according to the World Bank, and there is strong demand for luxury and imported goods among wealthy locals and foreign residents, who now…