Country Profile
From The Report: Kuwait 2022
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Kuwait has rebounded strongly from the disruption of the Covid-19 pandemic, and public finances have been bolstered by elevated oil prices in 2021-22. With one of the most dynamic political systems in the region, the hope is that the executive and legislative branches of Kuwait’s government can work together to advance the policy changes and strategies needed to fulfil the ambitions of the country’s long-term development plan, New Kuwait 2035. Recently, Kuwait has been pursuing a programme of economic diversification to jump-start expansion of the private sector via infrastructure projects and the privatisation of government assets. Among the many priorities of New Kuwait 2035 are goals to expand the role of the private sector, incentivise public-private partnerships, upgrade existing infrastructure, and generate a support mechanism for small and medium-sized enterprises.

This chapter contains a viewpoint from Crown Prince Sheikh Mishal Al Ahmad Al Jaber Al Sabah.

Articles from this Chapter

Overview

Dynamic development: The authorities are pursuing strategies to transform the country into a regional centre for trade and finance
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Situated in the north-western corner of the Gulf, bordered by Iraq and Saudi Arabia, Kuwait is a hereditary constitutional monarchy and a founding member of both the GCC and the Organisation of the Petroleum Exporting Countries. The country’s plentiful oil reserves have provided a strong platform for economic development and prosperity. Kuwait has rebounded strongly from the disruption of the Covid-19 pandemic, and public finances have been bolstered by elevated oil prices in 2021-22. With one…

Viewpoint

Prosperity and cooperation: Crown Prince Sheikh Mishal Al Ahmad Al Jaber Al Sabah, on the future of domestic development and international collaboration
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Viewpoint:Crown Prince Sheikh Mishal Al Ahmad Al Jaber Al Sabah As the representative of the Emir Sheikh Nawaf Al Ahmad Al Jaber Al Sabah, I restate Kuwait’s continuing commitment to regional and international environmental resolutions and initiatives. The Middle East Green Initiative Summit, held in Sharm El Sheikh, Egypt in late 2022, gave Kuwait an opportunity to reaffirm the New Kuwait 2035 vision as a core pillar for economic development while accomplishing our goals for environmental…

Analysis

Helping hand: A focus on development assistance has helped support regional and global initiatives geared towards multilateral cooperation
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Development aid is a fundamental and long-standing pillar of Kuwait’s foreign policy. Since independence, the combination of the country’s geography, relatively small armed forces and oil wealth have shaped the views of Kuwaiti leadership on the importance of bilateral and multilateral development cooperation as a tool of diplomacy. The country has pioneered regional efforts in the field, establishing the Kuwait Fund for Arab Economic Development (KFAED), an agency dedicated to the provision…

Analysis

Regional ties: Bilateral trade talks between the UK and the GCC are set to boost renewable energy and food security in the bloc
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As part of plans to expand and diversify its global trade partners and fulfil their respective national development strategies, the GCC has launched negotiations with the UK on a free trade agreement (FTA). This partnership is expected to bolster the bloc’s economy, help attract investment and provide greater opportunities for local businesses. On June 22, 2022, the two parties signed a joint statement and officially launched talks on a comprehensive trade deal, with Anne-Marie Trevelyan, then…