OBG Event

20 Jan 2010

The Report: Kuwait 2010 charts country’s bullish strategy for countering downturn

The steps taken by Kuwait’s government to minimise the impact of the global economic crisis are mapped out in the most comprehensive English language report on the country’s investment and business opportunities to be published.

The Report: Kuwait 2010, which has been produced by Oxford Business Group (OBG), a leading global publishing, research and consultancy firm, is launched today, 20th January 2010 at the Courtyard Marriott, Kuwait.

The business guide highlights the resilience that the country has shown in the face of the financial crisis and drop in oil prices from their July 2008 peak, including the speedy reaction of the government to inject funds into the economy, which helped cushion the blow of the downturn.

OBG’s latest report on Kuwait’s economy includes a detailed, sector-by-sector guide for foreign investors, together with a wide range of viewpoints and interviews with the most prominent political, economic and business leaders, including Sheikh Sabah Al Ahmed Al Jaber Al Sabah, Emir of Kuwait.

Abdulwahab Al Bader, Director-General of The Kuwait Fund for Arab Economic Development, Richard H Jones, Deputy Executive Director of the International Energy Agency and Sheikh Salem AbdulAziz Al Sabah, Governor of the Central Bank of Kuwait, also give their views on Kuwait’s economic development.

The Report: Kuwait 2010 includes an in-depth analysis of the hydrocarbon industry and charts its expansion as it enters a new decade. With a number of large-scale projects on the horizon, OBG’s new report explores the $84 billion investment plan for the industry, which will undoubtedly bring a confidence boost to the country. The report also provides an insight into the upstream and downstream projects earmarked for funding, exploring the plans in the pipeline for petrochemicals, transportation and a new refinery.

With alternative power sources high on the international agenda, The Report: Kuwait 2010 examines the country’s plans to tap nuclear energy as a source of energy. It also looks in detail at the progress made following Kuwait’s move to import liquefied natural gas and the plans in place to build on this decision.

As the drive to diversify and reform Kuwait’s economy continues, OBG’s new report documents the expansion of the country’s non-oil sectors, which is expected to accelerate over the years. The report considers the significant growth, which is being witnessed in sectors of industry such as manufacturing, and how this fits in with Kuwait’s overall economic development.

The Report: Kuwait 2010 has been produced in partnership with Kuwait Foreign Investment Bureau (KFIB), Moore Stephens Al Nisf and Partners, OBG’s accountancy partner, Al Sarraf and Al Ruwayeh, the group’s legal partner and Global Investment House as its capital markets partner.

Oliver Cornock, OBG’s Regional Editor, said that the forward-thinking measures adopted by the government, coupled with Kuwait’s cushion of substantial energy reserves, meant the country was well placed to bounce back quickly from the economic downturn.  “The indications are that Kuwait’s economy is in a healthy position,” he said. “As we begin to witness signs of economic recovery across the international business scene, I am confident that Kuwait will be at the forefront of the turnaround.”

Betul Cakaloglu, OBG’s Country Director in Kuwait, agreed, adding that the country was already benefiting from the government’s economic reforms. “The reforms have undoubtedly helped to increase FDI inflows,” she said, “while business-friendly measures, such as an attractive tariff regime and low energy costs, continue to catch the eye of investors and bring results.”

Cakaloglu also highlighted the important role that OBG’s partners had played in producing The Report: Kuwait 2010, saying their expertise had helped ensure that the country’s economic development was documented accurately and in detail. “The first-class business intelligence provided by our partners will help ensure that The Report: Kuwait 2010 offers key players and potential investors the information they require to make their decisions,” she said.

The Report: Kuwait 2010 marks the culmination of more than six months of groundbreaking field research by a team of analysts from OBG, assessing trends and developments in all major sectors of the economy, including energy, industry, finance, banking, tourism, transport and real estate. Available in print form and online, it forms part of the range of OBG’s publications renowned as leading sources of information on developing and emerging economies around the world.

About Oxford Business Group

Oxford Business Group (OBG) is a global publishing, research and consultancy firm, which publishes economic and political intelligence on the markets of the Middle East, Africa, Asia, Eastern Europe and the Caribbean. Through its range of print and online products, OBG offers comprehensive and accurate analysis of political, macroeconomic and sectoral developments, including banking, capital markets, insurance, energy, transport, industry and telecoms. 

The critically acclaimed economic, political and business reports have become the leading source of business intelligence on developing countries in the regions they cover. OBG’s online economic briefings provide up-to-date in-depth analysis on the issues that matter for tens of thousands of subscribers worldwide. OBG’s consultancy arm offers tailor-made market intelligence and advice to firms currently operating in these markets and those looking to enter them.