The National Day of Kuwait is observed on February 25 annually. This holiday commemorates Sheikh Abdullah al-Salim al-Sabah’s accession to power in Kuwait in 1950. Al-Sabah was an outstanding leader. In 1961, he signed a treaty securing Kuwait’s independence from Britain, bringing an end to the country’s status as a British protectorate.
Kuwait witnessed developmental progress in all fields to catch up with countries aspiring to build an honourable present and a bright future, and it contributed to playing a pivotal role in the regional and international framework, and it also became the focus of the world’s attention in humanitarian aid.
Since its independence, Kuwait has sought to pursue a balanced foreign policy, taking openness and communication as a way, believing in friendship and peace as a principle, and in human development and economic prosperity for its people as a goal, within the framework of co-operation and co-ordination with regional and international organisations and supporting their efforts, aspirations and goals.
Since the declaration of independence, Kuwait has gone through stages of development through which it sought to achieve the highest ranks among the ranks of developed countries, and pursued ambitious development plans in order to complete the process of building a modern state at all levels.
Sheikh Nawaf al-Ahmad al-Jaber al-Sabah, Amir of Kuwait, follows the footsteps of his predecessors, through his keenness on the unity of the Gulf ranks.
Kuwait is preparing to enter a new economic phase after its official institutions approved its first development plan, which includes huge projects that will be completed in the coming years.
The projects included in the plan vary, including what concerns oil, gas, electricity, water, and infrastructure such as airports and ports, housing, health, education, and social welfare.
It has also made progress in improving its commercial environment in recent years, as a result of many successive steps taken by the state.
Kuwait has a strong economy that is capable of facing and repelling any economic and financial crises, and this is proven by indicators, reports and international credit ratings for Kuwait and its economy.
The global credit rating agency Standard & Poor’s recently stated that Kuwait’s sovereign credit rating is at rank A.A with a stable outlook, and it also possesses strong financial buffers, which enabled it to stand in the face of crises, as it owns the fourth largest sovereign fund in the world with total assets of $592bn, according to data from the Sovereign Wealth Fund Institute.
Kuwait also maintains large financial and gold reserves, which have strengthened the Kuwaiti economy and enabled it to remain strong in the face of crises.
Kuwait is among the leading countries in the Arab Gulf region in many vital and important fields such as education, health, culture and public services.
It has a good reputation for caring for its citizens.
In health care, the Kuwaiti government provides free care to all citizens, including access to basic medical care and necessary treatment in government hospitals and clinics.
Kuwait also includes a group of the best schools and universities in the region, and the government provides free education for all citizens, from kindergarten to university level, and the Kuwaiti government provides adequate and affordable housing for all citizens through government housing programmes in order to improve the standard of living and well-being of citizens.
The Kuwaiti government is keen to provide public services and social facilities, such as parks, mosques, theatres, and sports centres, to improve the quality of life and well-being of citizens.
It also seeks to promote women’s rights, and provides them with jobs, educational, and political life opportunities.
Kuwait ranked fifth in the Gulf and Arab countries with a citizens share of the gross domestic product for the year 2021, which amounted to about $44,600, and Kuwait was able to move forward in improving these indicators, with a quantum leap for the Kuwaiti business environment, after the Ministry of Commerce and Industry succeeded in overcoming many obstacles, through a package of decisions and amendments to some laws, such as the competition protection law, the new insurance law, the new corporate law, and other laws and legislations that pushed for improving Kuwait’s ranking on the index of improving the business environment, and attracted foreign investments to the Kuwaiti market.
The value of income from Kuwaiti investments amounted to KD3.39bn dinars during the first half of 2022, and Kuwaiti investment income abroad is divided according to the nature of the investment into three main types between direct investment, financial portfolio and other investments.
The direct investment brought a return of KD1.36bn during the period from January to June 2022, and that investment is concentrated in shares and direct ownership in companies and factories in all economic sectors.
As for the financial portfolio: it came with a return of about KD2.4bn, and the investment in the financial portfolio is concentrated specifically in bonds and stocks.
Other investments came with a return of about KD419.2mn, and that value represents the rest of the indirect investments from partnerships, participation in projects and non-financial investments.
In light of the state’s interest in sustainable human development, the Future Generations Reserve Fund in Kuwait operates according to a tight strategy that ensures the best management of Kuwait’s financial reserves, to provide alternative revenues for oil revenues, as the fund’s investments are spread in more than 125 economies around the world between developed and emerging markets.
The fund consists of investments outside Kuwait based on an approved strategy for distributing assets in different categories, ranging from traditional assets, such as shares and bonds in government and private companies, real estate, private equity funds, alternative investments and others.
Kuwait is keen to be one of the most attractive countries for young people, investing in and developing their creative energies, enhancing their participation in decision-making and enabling them to occupy leadership positions at the societal, national and global levels, especially in accordance with its lofty vision that it recently launched, “Kuwait Vision 2035 “New Kuwait”. The number of workers in the government sector has reached 457,149, of whom 366,238 were male and female citizens, or 80.1%, compared to 90,911 non-citizens, or 19.9%.
The number of males has reached 198,987, including 148,158 Kuwaitis, or 74.5% of the total number of males, while the number of females has reached 258,162, including 218,080 Kuwaitis, or 84.5% of the total number of females.
Kuwaiti women have proven their pioneering and active role in the development process that Kuwait is witnessing in various fields, as they are considered, according to the provisions of the country’s constitution, an active individual in society, and they have been granted rights to education, scholarships and work.
The Kuwaiti women, with their experiences, capabilities and qualifications, are considered a key partner in the preparation and implementation of the New Kuwait 2035, along with Kuwaiti men.
Kuwaiti women hold many ministerial positions, entered the National Assembly, the Municipal Council, and the departments of Kuwait University, and represent Kuwaiti embassies in all international forums. They also worked in the oil field, in addition to their important role in forming the nucleus of the Kuwaiti family.
In 2009, Kuwaiti women achieved a remarkable leap in the journey to reach the parliament when four women succeeded in the parliamentary elections at that time and obtained membership of the National Assembly through the ballot boxes, and they are still getting their share in parliament.
The number of Kuwaiti female workers in the government labour market is more than 157,000, representing 79% of the employment in the government sector, where more than 55 women hold leadership positions.
Kuwait pays great attention to education, establishing an advanced and modern educational system that includes many schools, universities and educational institutes. There are many public and private universities.
Kuwait seeks to improve the quality of education through many government initiatives and programmes. Its spending on the education sector is considered one of the highest in the world, which has reached 12% of the total national expenditure. Spending on education topped the list of Kuwaiti government expenditures, after the total allocation for it during the 2022-2023 budget amounted to about KD2.9bn, an increase of KD200mn over 2021, which was KD2.7bn.
Kuwait ranks advanced in the field of healthcare in the region as Kuwait provides high-quality medical services to citizens and residents. There are many government and private hospitals and clinics that provide comprehensive medical services.
Today, after more than six decades of independence, Kuwait continues its steady development, and at the forefront of it is concern for the citizen, as the government pays great attention to human development processes in all fields.
Externally, Kuwait continues to build close relations with the countries of the world and work with the international community to prevent the outbreak of disputes and wars and solve problems by peaceful means.
