Kuwait

With the sixth-largest proven oil reserves in the world, and an industry that dates back to the early days of oil and gas dominance in energy, Kuwait is among the world’s principal hydrocarbons powers. Yet, given the lower oil prices seen in global markets in recent years, initiatives outlined in the New Kuwait 2035 development plan come at a critical time in terms of enhancing the state’s competitiveness as a destination for foreign direct investment.

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Following delays, the long-awaited GCC Railway looks likely to be revitalised, a move that could transform trade and connectivity across the Gulf.

Food production in the GCC has long faced obstacles ranging from water scarcity to a lack of arable soil – factors that are being exacerbated by climate change.

Nations in the MENA region have been intensifying efforts to increase their food security, with Russia's invasion of Ukraine the most recent geopolitical event to underline the fragility of global supply chains, as well as the importance of agricultural self-sufficiency.

The GCC chemicals and petrochemicals industry demonstrated considerable resilience in the face of Covid-19 and oil price fluctuations.

As oil prices reach 7.5-year highs, a number of countries in the Middle East have unveiled fiscal measures designed to balance their budgets after two years of pandemic-related spending.

In the wake of a period of severe disruption to global trade, Gulf shipping and logistics companies are adapting to government efforts to boost self-sufficiency in the region, while also investing in corporate digital solutions to improve communication with stakeholders, and predict and mitigate challenges along the supply chain.

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