The second edition of the Kuwait Investment Forum (KIF 2018) has contributed to a spurt in global investor confidence in the nation’s economy as Kuwait’s development agenda offers a plethora of investment opportunities.
An exclusive session was held where Kuwaiti ministers interacted dynamically to showcase the progress achieved under the seven pillars of the National Vision 2035 – New Kuwait – comprising: Effective Government, Diverse and Sustainable Economy, Quality Infrastructure, Sustainable Living Communities, Quality Healthcare, Innovative Human Capital, and Prominent International Position.
This entailed several milestones include entering the era of alternative, renewable and eco-friendly energy through Al-Shaqaya Renewable Energy Complex, which has achieved over 80% of its completion and is due for completion in 2022.
The forum’s outcomes supported several other positive signs that have contributed to enhancing the confidence of international investors, including the satisfactory overall economic performance of Kuwait.
As per the International Monetary Fund report of January 2018, Kuwait’s non-oil growth for the medium term is set to increase 3% to 4%, accompanied by curtailing inflation to around 2.5%. The report commended the government’s efforts to reduce spending, diversify income sources and improve the business environment, as well as acknowledging the efforts to shift from a public-led growth model to a private sector-led model, while consolidating the fiscal and current account balances.
Investment in the technology sector in Kuwait is reported to have nearly doubled over a five-year period from $939mn in 2012 to $1.87bn in 2017, according to CyFy Africa 2018, a technology focused conference held early May.
The second edition of the Kuwait Investment Forum has contributed to a spurt in global investor confidence in the nation’s economy
