Latest news with #KDIPA
Zawya
22-05-2025
- Business
- Zawya
Kuwait pushes diversification, private sector growth
KUWAIT CITY - Minister of Commerce and Industry Khalifa Al-Ajeel said the government is working hard to implement ambitious economic policies aimed at restructuring the national economy, achieving diversification, facilitating the business environment, expanding participation, and raising the efficiency of the State's financial management. Al-Ajeel made the statement at the opening of the New Kuwait Economic Strategy 2025 Conference the Kuwait Direct Investment Promotion Authority (KDIPA) organized Wednesday in cooperation with The Business Year Group. KDIPA Director General Sheikh Dr. Meshaal Jaber Al-Ahmad Al-Sabah attended the event, with the participation of a group of economic leaders in and outside Kuwait. According to Al-Ajeel, the government recently implemented a set of laws in light of these economic policies, such as the Public Debt Law, which aims to rationalize financing tools and support the financial sustainability of the State; as well as the Real Estate Developer Law, which will propel the real estate, banking and investment sectors to new stages of growth and development. He cited the initiatives and projects that were launched recently, like the Smart License Project, Office Licenses Merger System, and amendment of the Companies Law, which reflect policies to develop and improve the business environment in the country. He emphasized that 'these government reforms are manifested in the economic indicators of the country.' He explained that before the adoption of these reforms, the gross domestic product (GDP) witnessed a remarkable four percent growth in non-oil sectors, indicating a real beginning in terms of diversifying sources of income and reducing dependence on traditional resources. He stated that 'the government is looking forward to improving these rates in 2025 and the coming years. We have a historic opportunity to move Kuwait to a new phase of growth, productivity and partnership.' Regarding foreign investment, he revealed that Kuwait has adopted measures to improve the investment environment, raise the level of transparency and strengthen legal frameworks, which contributed to a 20 percent increase in foreign direct investment inflows last year. He pointed out that the country has witnessed many international investments in different sectors such as technology, renewable energy, and infrastructure, reflecting the extent of foreign investor confidence in Kuwait as a stable and ambitious investment hub. He added that mega strategic projects like Zour Refinery, Mubarak Al-Kabeer Port and Kuwait National Railway, along with the development of smart cities and infrastructure, not only strengthen the economic structure of the country, but also establish a sustainable economy based on innovation, diversity and partnerships between the private sector and the government. He said 'The noble directives of His Highness the Amir Sheikh Meshal Al- Ahmad Al-Jaber Al-Sabah are considered the compass that guides all of us in formulating the economic policies of the State. His Highness has repeatedly emphasized that Kuwait is now facing a historic responsibility that requires serious action to build a resilient and globally open economy based on knowledge and innovation, led by the private sector, supported by the State, and confidently keeping pace with rapid regional and global developments.' He believes that the challenge today does not lie in formulating visions; but in transforming them into reality through cooperation between the public and private sectors, developing national competencies, and strengthening Kuwait's position as an influential economic and investment hub in the region. 'The government looks forward to the future with confidence and treats challenges as opportunities to move assertively toward building a new Kuwaiti economic model -- one that believes in partnership, embraces modernity, and invests in people above all else,' he concluded.
Arab Times
21-05-2025
- Business
- Arab Times
Kuwait pushes diversification, private sector growth
KUWAIT CITY, May 21: Minister of Commerce and Industry Khalifa Al-Ajeel said the government is working hard to implement ambitious economic policies aimed at restructuring the national economy, achieving diversification, facilitating the business environment, expanding participation, and raising the efficiency of the State's financial management. Al-Ajeel made the statement at the opening of the New Kuwait Economic Strategy 2025 Conference the Kuwait Direct Investment Promotion Authority (KDIPA) organized Wednesday in cooperation with The Business Year Group. KDIPA Director General Sheikh Dr. Meshaal Jaber Al-Ahmad Al-Sabah attended the event, with the participation of a group of economic leaders in and outside Kuwait. According to Al-Ajeel, the government recently implemented a set of laws in light of these economic policies, such as the Public Debt Law, which aims to rationalize financing tools and support the financial sustainability of the State; as well as the Real Estate Developer Law, which will propel the real estate, banking and investment sectors to new stages of growth and development. He cited the initiatives and projects that were launched recently, like the Smart License Project, Office Licenses Merger System, and amendment of the Companies Law, which reflect policies to develop and improve the business environment in the country. He emphasized that 'these government reforms are manifested in the economic indicators of the country.' He explained that before the adoption of these reforms, the gross domestic product (GDP) witnessed a remarkable four percent growth in non-oil sectors, indicating a real beginning in terms of diversifying sources of income and reducing dependence on traditional resources. He stated that 'the government is looking forward to improving these rates in 2025 and the coming years. We have a historic opportunity to move Kuwait to a new phase of growth, productivity and partnership.' Regarding foreign investment, he revealed that Kuwait has adopted measures to improve the investment environment, raise the level of transparency and strengthen legal frameworks, which contributed to a 20 percent increase in foreign direct investment inflows last year. He pointed out that the country has witnessed many international investments in different sectors such as technology, renewable energy, and infrastructure, reflecting the extent of foreign investor confidence in Kuwait as a stable and ambitious investment hub. He added that mega strategic projects like Zour Refinery, Mubarak Al-Kabeer Port and Kuwait National Railway, along with the development of smart cities and infrastructure, not only strengthen the economic structure of the country, but also establish a sustainable economy based on innovation, diversity and partnerships between the private sector and the government. He said 'The noble directives of His Highness the Amir Sheikh Meshal Al- Ahmad Al-Jaber Al-Sabah are considered the compass that guides all of us in formulating the economic policies of the State. His Highness has repeatedly emphasized that Kuwait is now facing a historic responsibility that requires serious action to build a resilient and globally open economy based on knowledge and innovation, led by the private sector, supported by the State, and confidently keeping pace with rapid regional and global developments.' He believes that the challenge today does not lie in formulating visions; but in transforming them into reality through cooperation between the public and private sectors, developing national competencies, and strengthening Kuwait's position as an influential economic and investment hub in the region. 'The government looks forward to the future with confidence and treats challenges as opportunities to move assertively toward building a new Kuwaiti economic model -- one that believes in partnership, embraces modernity, and invests in people above all else,' he concluded.
Arab Times
22-02-2025
- Business
- Arab Times
Arab-Portuguese Chamber Strengthens Economic Ties with Kuwait
KUWAIT CITY, Feb 22: The Portuguese Business Council Kuwait (PBC) is pleased to announce the successful completion of the Arab- Portuguese Chamber of Commerce and Industry (CCIAP) business mission to Kuwait. This strategic initiative aimed to enhance economic, investment, and trade relations between Portugal and Kuwait, reinforcing a growing partnership between both nations. With Portugal recognized as a hub of quality, innovation, and talent, and Kuwait pursuing economic diversification under Vision 2035, both countries stand to benefit from deeper cooperation. The delegation was led by Mr. Nuno Anahory, Executive Board Member of CCIAP, and organized in close collaboration with Mr. António Azevedo Campos, President of the Portuguese Business Council in Kuwait. Together, they provided a strong platform for Portuguese businesses to connect with Kuwait stakeholders, facilitating key discussions on investment and economic collaboration. Summary of the Mission The delegation, composed of over 12 Portuguese companies from key sectors including energy, real estate, investment funds, construction, cybersecurity, tourism, security services, and industries, visited Kuwait from February 18 to 20, 2025. This visit coincided with the 50th anniversary of diplomatic relations between Portugal and Kuwait, a testament to the enduring mutual respect and cooperation between the two nations. During the mission, numerous business opportunities were explored, and several Kuwait companies expressed strong interest in partnering with Portuguese enterprises. The discussions focused on trade, infrastructure development, and investment-driven innovation, opening new pathways for economic collaboration. Key Highlights of the Mission - Reception at the White Palace: The delegation was honored with a reception hosted by His Excellency Sheikh Mubarak Abdullah Al- Mubarak Al-Sabah at the White Palace, where discussions centered on Kuwait's commitment to innovation and sustainability. - Meeting with Kuwait Chamber of Commerce and Industry (KCCI): Under the coordination of Mr. Firas M. AlOda, the delegation engaged in productive discussions with KCCI. The focus was on strengthening partnerships, trade and economic ties. - Engagement with Kuwait Direct Investment Promotion Authority (KDIPA): The delegation met with His Excellency Sheikh Abdullah Sabah Humoud Al-Sabah, Assistant Director General for Investment Operations at KDIPA. Discussions highlighted Kuwait's strategic initiatives to attract highvalue investments and create a business-friendly environment for international enterprises.
Zawya
19-02-2025
- Business
- Zawya
Oxford Business Group partners with KDIPA for The Report: Kuwait 2025
Kuwait City: Kuwait's efforts to enhance the investment climate and drive economic diversification will take centre stage in The Report: Kuwait 2025, by the global research and advisory company Oxford Business Group (OBG). The report will offer detailed analysis of the strategies underpinning these initiatives and the opportunities the country creates for investors and other stakeholders. A memorandum of understanding (MoU) signed between Oxford Business Group (OBG) and the Kuwait Direct Investment Promotion Authority (KDIPA) to support the economic research on Kuwait's long-term development goals that looks to highlight key achievements and opportunities shaping the nation's economic landscape. Cristina Mirica, OBG's Country Director for Kuwait, underscored the importance of KDIPA's contribution to the report. Through this collaboration, we aim to provide detailed intelligence and data-driven insights that will enable businesses and investors to capitalise on Kuwait's evolving economic opportunities effectively.' she said. The Report: Kuwait 2025 represents the culmination of over six months of extensive research conducted by OBG's team and will also include exclusive interviews with high-ranking officials and leading figures from the public and private sectors. In addition to FDI and digitalisation, it will explore the latest trends in infrastructure, innovation, and sustainable development, providing readers with a comprehensive overview of Kuwait's economic progress. About Oxford Business Group Oxford Business Group (OBG) is a global research and advisory company with a presence in over 30 countries, spanning Africa, the Middle East, Asia, and the Americas. It is recognised internationally as a distinctive and respected provider of on-the-ground intelligence on world's fastest-growing markets, termed The Yellow Slice, in reference to OBG's corporate colour. Through its range of products - Economic News and Views; OBG CEO Surveys; OBG Events and Conferences; Global Platform, which hosts exclusive video interviews; and The Report publications – as well as its Advisory division, OBG offers comprehensive and accurate analysis of macroeconomic and sector-level developments for sound investment opportunities and business decisions. OBG provides business intelligence to its subscribers through multiple platforms, including its direct subscribers, Dow Jones Factiva subscribers, the Bloomberg Professional Services subscribers, Refinitiv's (previously Thomson Reuters) Eikon subscribers, and more.
Zawya
18-02-2025
- Business
- Zawya
Kuwait Direct Investment Promotion Authority co-hosts Thought Leadership Circle event
Kuwait City — The second Thought Leadership Circle event, Urban Growth & Investments, co-hosted by KDIPA, The Business Year, and the Union of Investment Companies, took place at Chairman's Club, KIPCO Tower. Bringing together top executives, policymakers, and industry leaders, the event explored Kuwait's urban growth, investment opportunities, and strategic partnerships shaping the country's future. H.E. Abdulatif Hamed Al-Mishari, Minister of State for Municipal Affairs and Housing Affairs, delivered a keynote on Kuwait's shift to a private sector-led economy, emphasizing that land, second only to oil in value, must be leveraged through sustainable investment rather than subsidies. He highlighted new regulations driving this transformation, ensuring smart urban expansion and quality infrastructure. Mohammed Yousef Mulla Yaqoub, Assistant Director General for Business Development at KDIPA, stressed urban development as key to Kuwait's economic resilience, calling for sustainable expansion, strategic investments, and public-private partnerships to strengthen Kuwait's position Kuwait as a leader in real estate and infrastructure. Abdullah Al-Terkait, Chairman of the Union of Investment Companies, discussed Kuwait's evolving investment landscape, highlighting privatization, regulatory reforms, and Boursa Kuwait's transformation as catalysts for attracting global investors and strengthening the country's financial standing. Other distinguished speakers included Sheikh Ahmad Duaij Jaber Al Sabah (KBA), Ali Khalil (Markaz), Zeyad Tareq Al Mukhaizeem (Al Safat Investment Company), Bader Al Ghanim (Talabat), Mishary S. Al Muhailan (URC), Dr. Bader Al Hashel (Boubyan Bank), and Adel Al-Meshri (Federation of Kuwaiti Engineering Offices & Consultant Houses). Discussions focused on private sector-led investment, regulatory reforms in real estate, and emerging technologies like PropTech. Speakers emphasized ESG trends, public-private collaboration, and financial innovations such as mortgages and green bonds as essential to Kuwait's sustainable urban growth and economic resilience. The event was supported by KDIPA, the Union of Investment Companies, Talabat, Al Safat Investment Company, Markaz, the Union of Real Estate Companies (URC), Kuwait Banking Association (KBA), ITL World, and the Chairman's Club. Part of a three-event series, the Thought Leadership Circle continues to provide a platform for decision-makers to exchange ideas, foster partnerships, and shape Kuwait's urban and economic future. The final event in the series will take place soon.
