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Analysis

Kuwait's development plan targets improving education at every level
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In August 2016 Kuwait’s Supreme Council for Planning and Development announced plans to invest KD4.75bn ($15.8bn) in its 2017-18 development plan, roughly one-third of state budget financing. The development plan has several goals, including developing a sustainable and diversified economy, and long-term livelihood for citizens. Specific education initiatives under the plan are aimed at improving…

Overview

Kuwait government invests in major infrastructure plans
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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 diversification efforts and reducing dependence on oil revenues,…

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Government reforms strengthen Kuwait's banking sector
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In a lower oil price environment such as the one that has persisted since late 2014, banking sectors in the GCC find themselves under heightened scrutiny. Kuwait is no exception, but where other banking sectors in the region have been compelled to face sizeable cutbacks in government spending, the nation’s deep reserves have enabled it to defend the development pipeline on which so much of…

Overview

New investment opportunities open up across a range of sectors in Kuwait
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With billions of dinars worth of short-term spending plans and a new vision for economic transformation over the next two decades, Kuwait offers opportunities for investment across a range of sectors. While the country adopted a save and prosper approach during the oil boom years of 2010-14, the prolonged reduction in oil prices experienced since then has coincided with a renewed appetite for…

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Foreign investment to boost diversification in Kuwait trade
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Like most GCC economies, Kuwait is well known for its buy-side investment activity – a result of its historic ability to transform oil revenues into global investments aimed at securing future economic sustainability. However, as the nation enters a third year of lower oil prices, Kuwait’s attractiveness as a destination for inward investment has come under increasing scrutiny. The government…

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New reforms in Kuwait revitalise capital markets
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After a year characterised by low trading volumes and a horizontal main index, the Kuwait Stock Exchange (KSE) opened 2017 as the fastest-growing market in the world. A number of reasons combine to make the KSE a destination of interest for investors in 2017, chief among them being new management, which has begun to implement an ambitious reform programme. With the ultimate goal of securing…

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The number of sharia-compliant banks and insurance companies in Kuwait increases
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Kuwait’s Islamic financial services (IFS) industry is one of the fastest-growing segments of the financial sector, home to an increasing number of sharia-compliant banks and insurance companies. The emergence of these industries over recent decades has brought sharia-compliant capital to account for a significant proportion of total capital domiciled in Kuwait – around 45%, according to…

Overview

Kuwait's insurance sector works to overturn decline in net profits
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The Kuwait insurance industry entered 2017 after a challenging period which saw premium growth maintained but profitability declining year-on-year. High levels of competition and low oil prices make a reversal of this trend in the short term a daunting prospect. However, a number of developments in the pipeline – including a new legislative framework and the introduction of mandatory health…

Overview

Transport development plans strengthen Kuwait as a trade centre
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Driven by measured government-backed investments, despite the downward pressure from oil prices, the Kuwait transportation sector continued to grow in 2016-17. Improving connectivity regionally and globally – via air, land and sea links – is viewed as a state priority and a promising mechanism to drive non-oil economic growth. In support of government objectives, such as enhancing local…

Overview

Kuwait in the midst of a construction infrastructure boom
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With the country beginning to clear a backlog of major projects in energy, infrastructure and housing, the construction sector in Kuwait has seen a resurgence of activity in recent years. The government’s five-year National Development Plan committed to spend KD34bn ($112.5bn) over the 2015-20 period, and KD12bn ($39.7bn) worth of projects were signed off in the plan’s preliminary year.…