Interview: Sheikh Meshaal Jaber Al Sabah
What role does foreign direct investment (FDI) play in Kuwait’s strategy for realising its domestic objectives and international commitments?
SHEIKH MESHAAL JABER AL SABAH: FDI serves as a critical component of Kuwait’s strategy for achieving the UN Sustainable Development Goals (SDGs) and realising the objectives of New Kuwait 2035. FDI is a crucial driver of economic growth, diversification and sustainability. All 17 of the UN SDGs for 2030 are woven into the seven pillars of New Kuwait 2035. These are comprehensively addressed through various channels as we tackle socio-economic challenges. KDIPA helped develop the national vision’s pillars in line with the UN SDGs – most notably goals 5, 8, 9, 10, 12, and 17 – as evidenced in Kuwait’s second Voluntary National Review 2023.
High-impact FDI contributes to creating a sustainable, prosperous and inclusive economy by facilitating the transfer and development of advanced technology, promoting innovation in green industries and enhancing renewable energy and smart cities. It also strengthens ties with local suppliers and producers, develops the national workforce and creates job opportunities across various sectors. Internationally, FDI supports global partnerships for sustainable development through corporate social responsibility initiatives.
Which measures are being taken to create advanced training opportunities for the local workforce?
SHEIKH MESHAAL: In line with KDIPA’s mandate to promote Kuwait as a prime location for value-added direct investment, local skills development is a central objective. This aligns with New Kuwait 2035’s focus on creative human capital and the current government work programme for 2023-27, which emphasises nurturing local talent, enhancing quality of life and building an advanced, sustainable economy.
In recent years KDIPA has worked closely with its licensed investment partners to develop national talent. These entities have announced hundreds of quality job opportunities for the local workforce in diverse fields and at various administrative professional and technical levels. These partners, in turn, have facilitated a wide array of training programmes and workshops, benefiting thousands of employees. These programmes offer specialised and accredited certificates to enhance professional and administrative skills, including financial analysis, project management, operational technology, and cloud computing. They support the broader goal of fostering the adoption and utilisation of new technologies and solutions within the Kuwaiti market.
How is the country identifying high-priority areas to attract technology investment?
SHEIKH MESHAAL: KDIPA employs a multi-faceted investment policy aligned with both national and international frameworks, including principles from the UN Conference on Trade and Development investment policy framework for sustainable development. The latest interim strategy for 2023-25 outlines three strategic directions: adopting digital transformation, fostering resilience to global challenges, and enhancing capabilities to attract and retain direct investment. These areas of focus aim to bolster competitiveness by attracting high-quality investment in priority sectors, as identified in the government’s strategy for 2023-27. Priority sectors include tourism and entertainment, transport, communications and logistics, housing, telecommunications and IT, financial services, renewable energy, and oil and petrochemicals.
In tandem with ongoing government efforts, KDIPA is overseeing the development of three economic zones to serve as industry clusters. Starting with Abdali Economic Zone, which will be launched in the near future, these zones are designed to integrate into the development of strategic regional mega-projects. KDIPA actively promotes these opportunities through digital and traditional media campaigns to highlight emerging developments and improve the investment climate.
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