As Kuwait puts measures in place to transform itself into a world-class financial and commercial centre, there are opportunities for the private sector to grab a slice of the action. New laws on foreign investment and public-private partnerships have proved popular with investors. Other developments include opening the stock market to non-Kuwaitis, the entry of foreign firms into key sectors and the promotion of its Vision 2035, a seven pillar programme that aims to secure the future through economic sustainability.
Kuwait enjoys strong investment-grade sovereign ratings (AA/Aa2) and low political risk ratings from major credit agencies globally. It was ranked 46 out of 141 in the WEF Global Competitiveness Index 4.0 2019. Despite these advances, challenges remain, and investors want the country to improve education and skills development, reduce labour regulations, enact policies and cut red tape to make setting up a business easier, which Kuwait is working on. This has helped it improve its rank to 83 out of 190 for ease of doing business in the World Bank Doing Business Report 2020, making it one of the 10 economies that improved the most on the ease of doing business after implementing regulatory reforms.
FDI from the services sector has overtaken oil and gas in the country, and investors from the software and IT services, finance and banking, healthcare, construction, renewable energy, smart city and logistics sectors are discovering lucrative investment opportunities in Kuwait.
Financial Times Live, fDi Magazine and Kuwait Direct Investment Promotion Authority (KDIPA) present the Kuwait Investment Outreach Roadshow, Singapore, the third in a series of three events being held in London, Silicon Valley and Singapore.
Join us to find out about investing in the country; engage with business leaders who are already operating in Kuwait, and find out from experts in the region about the business environment and opportunities available.