Industry
From The Report: Kuwait 2015
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A programme to boost oil production in Kuwait has stimulated growth in construction and petrochemicals. After hydrocarbons extraction and refining, the petrochemicals industry is the largest in Kuwait, with the bulk of production exported to Asia. Manufacturing, meanwhile, is set for continued growth as the country makes a greater push to diversify its industrial base – efforts that will be boosted by a significant influx of funds allocated to transport upgrades as part of the National Development Plan 2015-20. Local pharmaceutical companies are also poised to benefit from rising demand for health care services in the coming years, driven by high birth rates, an ageing population and sustained immigration.

This chapter contains an interview with Ahmad Al Jemaz, CEO, Kuwait Aromatics Company.

Articles from this Chapter

Overview

Investing in infrastructure: Manufacturing is set for continued growth as the country makes a greater effort to diversify its industrial base
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As part of Kuwait’s efforts to expand and diversify its economy, the country has moved to invest in its infrastructure capacity, while a programme to boost oil production levels has stimulated growth in the petrochemical and construction segments. Alongside continued moves to improve the skills of the workforce, as well as to nurture small and mediumsized enterprises (SMEs), Kuwait’s industrial sector looks set to grow over the coming years. Figures In 2013 manufacturing accounted for 6.8%…

Interview

Opportunities for growth: OBG talks to Ahmad Al Jemez, Chairman, Kuwait Aromatics Company (KARO)
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Interview: Ahmad Al Jemez What are Kuwait’s main advantages for increasing activity and growth in the petrochemicals sector? AHMAD AL JEMEZ: Kuwait, and most of the GCC oil producing countries with high refinery processing capacities, is well positioned to play a major role in the aromatics business, as we have good access to the required feedstock, naphtha or condensate. The GCC countries all have different and individual growth requirements. Naphtha production in Kuwait is over 7m tonnes per…

Analysis

The right dose: Demand for pharmaceuticals is set to rise as the population ages
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Kuwait is set to witness significant demographic changes over the coming decades, with far-reaching consequences for the local pharmaceuticals industry. High birth rates and continued immigration mean that the population is increasing in absolute terms and is set to reach 4m by 2020 and 6.3m by 2050, according to estimates by the UN’s Economic and Social Commission for West Asia. The population is slowly ageing: birth rates have fallen steadily, from 5.1 children born per woman in…