Economic diversification is at the heart of Kuwait’s long-term development strategy, as is establishing the country as a gateway to the northern Gulf and Middle East. The industrial sector has a central role to play in this, as the state looks to develop export-oriented businesses that can supplement hydrocarbons income and broaden the revenue base. Under the Kuwait Development Plan (KDP) 2015-20, which lays out a strategy for large-scale investments in infrastructure and energy, and includes a strong emphasis on private sector involvement, the government aims to raise the non-oil sector’s contribution to GDP to 64% in 2015-20, up from an average of 45.1% in 2010-13. The chemicals sector is already strong in Kuwait and is expected to raise output strongly in the coming years, leveraging the country’s wealth of resources and spurring a wave of investments. Other industries with potential include construction materials, demand for which is rising as Kuwait ramps up infrastructure projects, and food, where domestic demand and a strategic location are important upsides.
This chapter contains an interview with Ghosson Ghassan Al Khaled, COO, ACICO Industries Company