Industry
From The Report: Kuwait 2016
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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

Articles from this Chapter

Overview

A driving force: The state is developing export products and has recently improved legislation for investors
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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…

Interview

Beyond hydrocarbons: OBG talks to Ghosson Ghassan Al Khaled, COO, ACICO Industries Company
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Interview:Ghosson Ghassan Al Khaled How successful have the government’s investments been in broadening the downstream and wider industrial base of the country? GHOSSON GHASSAN AL KHALED: The government has been relatively successful in this endeavour, though not at the desired pace. With oil accounting for over 50% of GDP, 94% of exports and 89% of government income, it is obvious that industry in Kuwait is bent towards hydrocarbons and petrochemicals. However, the government is continuously…

Analysis

Building on experience: Efforts are under way to widen the range of chemicals produced and boost output
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Chemicals production is one of the leading lights of Kuwait’s industrial sector, an important contributor to its economy and an export earner. It is at the centre of the country’s drive to diversify its earnings and boost the value it obtains from its mineral wealth. Output is expected to rise as the national petrochemicals company and international partners capitalise on a growing supply of oil and gas feedstock. The chemicals industry accounted for 22.9% of Kuwait’s manufacturing added value,…