Trade & Investment
From The Report: Kuwait 2022
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Kuwait’s trade and investment profile has long been dominated by oil, with revenue from its vast reserves used to fund overseas investment, generating sustainable long-term returns and safeguarding future prosperity. As Kuwait emerges from the disruption of the Covid-19 pandemic with robust public finances and a new government in place following elections in September 2022, it has an opportunity to drive forwards projects that diversify exports and attract inward investment in high-potential industries. Kuwait has a long-established legal framework that governs public-private partnerships, which could potentially play a key role in the country’s broader efforts to widen the scope of private sector participation in the economy under the direction of New Kuwait 2035.

This chapter contains an interview with Sheikh Meshaal Jaber Al Sabah, Director-General, Kuwait Direct Investment Promotion Authority.

Articles from this Chapter

Overview

The next step: Strong fiscal position and new government provide opportunities to attract foreign investors and bolster international commerce
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Kuwait benefits from an advantageous location in the Northern Gulf that provides convenient access to major markets in Europe and Asia. The country’s trade and investment profile has long been dominated by oil, with revenue from its vast reserves used to fund overseas investment, generating sustainable long-term returns and safeguarding future prosperity. As Kuwait emerges from the disruption of the Covid-19 pandemic with robust public finances and a new government in place following elections…

Interview

Impact investing: Sheikh Meshaal Jaber Al Sabah, Director-General, Kuwait Direct Investment Promotion Authority (KDIPA), on supporting digital transformation and diversification through direct investment
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Interview:Sheikh Meshaal Jaber Al Sabah Which sectors offer promising investment opportunities in the post-Covid-19 recovery phase? SHEIKH MESHAAL JABER AL SABAH: Kuwait was in a strong and stable position after the Covid-19 pandemic due in part to the mitigating measures taken to alleviate the adverse impact of the crisis. The country has witnessed a gradual economic recovery supported by higher oil prices and export revenue. In the post-pandemic era, the country continues to work towards…

Analysis

Pioneering zones: The authorities seek to attract investment and support trade by establishing several economic zones
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To leverage its location and proximity to major Gulf markets, Kuwait plans to develop economic zones to attract investment, and support trade and industry clustering. While trade was temporarily disrupted by the Covid-19 pandemic, exports rebounded significantly in 2021. The Middle East currently accounts for a large portion of Kuwait’s external trade, with the UAE and Saudi Arabia being Kuwait’s top non-oil export markets in 2021 and Iraq its fifth. The UAE and Saudi Arabia also ranked second…

Analysis

Landmark agreements: Reaching consensus on issues ranging from food security and overfishing, to intellectual property rights and Customs duties
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In the first high-level meeting of the World Trade Organisation (WTO) since 2017, representatives from member countries met in Geneva in June 2022 for the 12th Ministerial Conference, where they signed a landmark series of agreements on food exports, illegal fishing, intellectual property (IP) rights for Covid-19 vaccines and Customs duties on electronic transactions. Food Exports & Illegal Fishing One of the most pressing global challenges is food security. Food prices have reached all-time…