“The Kuwait Development Plan (KDP) 2015-20 puts into motion the government’s broad goal of transforming the country into a regional trade and financial hub by 2035. The plan is a two-pronged strategy to push through major economic reforms to empower the private sector and to implement a significant pipeline of ambitious projects over a five-year period. The KDP was initially drafted with a $155bn budget for key developments and will focus on more than 500 projects to build core infrastructure, utilities and housing across Kuwait, and to expand the country’s vital oil and gas sector.
The government has acknowledged that the National Development Plan (NDP) 2010-14 was not successfully implemented, hence a large number of projects from the previous plan have been included under the new strategy. According to the new plan pulls 421 projects from the previous plan and identifies 92 new projects that will be implemented within the next five years. “
The Kuwaiti government is willing to diversify its economy and has launched an open policy to foreign investments.
The cost of energy is very low.
Kuwait is endowed with a good financial management and a solid banking system.
Kuwait’s population has doubled since the 2000 and hence the country with a rising demand is a highly potential market.
Kuwait has planned billions worth of projects and majority of the budget is needed from Direct Foreign Investment. FDI Law allows 100 percent foreign ownership in certain industries, including: infrastructure (water, power, wastewater treatment, and communications,etc.)
The estimated $1.2 billion Dibdibah solar-power plant in the first quarter of 2018 as part of the country’s plans to produce 15 percent of power from renewable energy by 2030 makes it a potential market with opportunities for companies around the world.
The country’s infrastructures are of high quality, the labor force provided by immigrants is inexpensive and the absences of taxes are some of the undeniable advantages to foreign investors.
Did You Know?
is the 2nd most free economy among the Middle East.
is the 4th richest country in the world in terms of Per Capita Income.