Industry
From The Report: Kuwait 2014
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Efforts to diversify the economy away from hydrocarbons have helped drive industrial development. Non-oil GDP saw 10% growth in 2012, and during the 2006-12 period, manufacturing made up an average of 6.4% of GDP a year. Land, transport and electricity prices are currently the main challenges in growing this sector, but efforts are being made to overcome these issues. In early 2013, the government also announced a new $7bn fund to develop small and medium-sized enterprises and help support further economic diversification.

Articles from this Chapter

Overview

Rising oil production is having knock-on effects for a number of industries
OBG
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The economy of Kuwait stands on the threshold of entering a major new phase in its development. Up to now, it has been based largely on the export of raw hydrocarbons or ancillary products such as petrochemicals. Now, however, a large programme of public investment is re-energising the economy across the board, and industry is set to be a major beneficiary. Regulators The Ministry of Commerce and Industry (MoCI) is charged with deepening commercial relations with overseas markets, registering companies…

Analysis

New investments in petrochemicals are aimed at markets in East Asia
OBG
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As part of Kuwait’s effort to diversify and grow its economy, authorities are launching two initiatives that are set to expand trade with East Asia. First, Kuwait is looking to increase its oil production from around 2.9m barrels per day (bpd) currently to 4m bpd by 2020. This will also boost production of associated gas, which can be used as feedstock for the petrochemicals sector. Second, because the petrochemicals industry globally has been growing faster than GDP since the 1990s, Kuwait has…